US-based tissue repair technology developer Miach Orthopaedics has closed a $22.5m series A round co-led by DSM Venturing, the open innovation arm of health, nutrition and material product supplier DSM.
The round was co-led by Amzak Health Investors, a subsidiary of private equity and asset management group Amzak Capital Management, and included labour organisation the NFL Players Association.
Founded in 2016, Miach is working on technology dubbed Bridge-Enhanced ACL Repair (BEAR), which involves using bio-engineered surgical implants to repair tissue in order to help heal torn anterior cruciate ligaments in the knee joint.
The system will be an alternative to surgical reconstruction, which has a 20% re-tear rate for teenage patients while a high proportion of patients go on to develop arthritis in the 20 years after surgery.
The series A funding will support clinical trials for BEAR and the upgrading of Miach’s manufacturing capabilities.
Miach founder Martha Murray said: “We believe that BEAR technology has the potential to transform connective tissue repair, and we are gratified that Amzak, DSM and the NFL Players Association share our vision to explore its application in ACL repair.
“We look forward to accelerating clinical trials to further evaluate the less-invasive BEAR technology as a viable alternative to ACL reconstruction.”
