Biedermann Motech, a Germany-based medical device company, has helped Biomimedica, a US-based cartilage replacement company, raise $11.9m, with $2.8m of the round being raised in bridge loans.
Biedermann Motech was joined in the B round by Troika Ventures, a venture unit of Russia-based bank Troika Dialog, and venture firms Emergent Medical Partners and Asset Management Ventures.
Artyom Yukhin, managing partner of Troika Ventures, said: “Biomimedica’s technology is designed to treat a variety of cartilage defects, including osteoarthritis affecting the entire joint. This unique approach is intended to maximize the preservation of natural bone and restore the natural function of cartilage, with the goal of allowing patients to return to their normal lifestyle. We believe this technology will be particularly important for younger, more active patients who desire better alternatives to conventional total joint replacement. We are very pleased to join this investment group and support Biomimedica’s efforts to commercialize this exciting new product platform.”