Orthonika Awarded £1.34 Million Innovate UK Grant

To Accelerate Development of Its Total Meniscus Replacement Towards the Clinic

Orthonika Limited, a spin-out from Imperial College London, has been awarded a £1.34 million grant from Innovate UK, the UK’s innovation agency, to complete pre-clinical development and testing of its synthetic total meniscus replacement in preparation for the clinic.

Meniscus injury is severely debilitating, causing pain and restricted movement that limits everyday activities. Current treatment options are limited to suture repair or meniscal allografts, which are in short supply and lead to long waiting times. Where suture repair is not possible, the injured part or remaining meniscus is removed (meniscectomy) to alleviate symptoms in the short term. However, such patients are 14 times more likely to develop osteoarthritis. Meniscectomy has become the most common orthopedic surgical intervention worldwide, with nearly 2 million interventions performed each year. There are currently no approved total meniscus replacements for these patients.

Orthonika’s total meniscus replacement is an orthopedic implant for the knee joint that represents an entirely novel solution, replicating the structure and function of the native meniscus in a first-of-its-kind synthetic option for patients. The implant design is unique, featuring an inherent attachment mechanism incorporated into the underlying structure which allows for optimal load transfer and distribution in the knee joint during mobility. Orthonika’s implant aims to restore the biomechanical function of the meniscus to help reduce pain, improve mobility and ultimately delay the onset of osteoarthritis. It is intended to fill the gap between minimally invasive meniscus repair and total knee replacement.

“There is currently no widely available treatment solution that allows patients to return to a pain-free active lifestyle following meniscectomy,” said Maria Kristina Bartolo, Ph.D., Chief Technology Officer at Orthonika. “We are delighted that Innovate UK has recognised the potential for our novel total meniscus replacement to fulfill a significant unmet clinical need and further promote joint preservation.”

Dominique Kleyn, Co-Founder and Chief Operating Officer said: “This highly competitive award brings additional resource for Orthonika to further expand the team, engage with development partners and manufacturers, and accelerate plans to take our total meniscus replacement product into first in human studies.”

This is the fifth Innovate UK grant awarded to Orthonika, bringing total grant funding to £2 million. The company has also raised equity funding to further support its R&D efforts.

Medical Device News Magazinehttps://infomeddnews.com
Medical Device News Magazine provides our readership with breaking medical device / biotechnology news. Our subscribers include medical specialists, device industry executives, investors, and other allied health professionals, as well as patients who are interested in researching various medical devices. We hope you find value in our easy-to-read publication and its overall objectives! Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

More News!

MMI notes the funds will support commercialization of the Symani® Surgical System in high-growth markets and continued investment in studies that generate clinical evidence and enable indication expansion. Investments will also accelerate advanced technology capabilities and enable MMI to scale its operational capabilities globally.
“We are excited to begin our journey as a public company with this additional investment. We believe Tevogen’s patient-centric approach, which merges a focus on affordability with advanced science, is a blueprint for sustainable success in the current era of healthcare. I am pleased that investors now have the opportunity to participate in Tevogen’s mission to become the very first life science company offering commercially attractive and affordable personalized T cell therapies for large patient populations in virology, oncology, and neurology, said the CEO of Tevogen Bio.
MB2 Dental notes the financing will be used to fund upcoming acquisitions and future growth for the company, following a record year of growth in 2023 with 150 new partnerships.
Procyrion notes the funding will support the DRAIN-HF pivotal IDE trial evaluating the company's Aortix pump, internal R&D programs to improve manufacturability, and commercialization preparation.
PhotoniCare, in January of this year, announced that the U.S. Food and Drug Administration had granted clearance for its TOMi™ Scope for non-invasive imaging of the middle ear.

By using this website you agree to accept Medical Device News Magazine Privacy Policy