MiRus Raises $65 Million to Expand Rhenium-based Medical Devices

MiRus LLC, a commercial stage life sciences company, has completed a highly oversubscribed funding round for growth of its spine and extremity portfolios and development of structural heart disease solutions using its proprietary Rhenium-based alloys (MoRe). The round was led by Mammoth Scientific and multi-generational family offices who have supported MiRus from its inception.
 
MiRus has broad global patent coverage for all medical implants made from Rhenium-based superalloys which have superior mechanical strength, fatigue resistance and dramatically better biological performance as compared to traditional titanium, cobalt and nickel-based alloys used in medical implants.
 
“We are delighted to see the validation and excitement around our Rhenium-based materials since FDA clearance of the first MoRe-based spine implant in 2019,” said Jay S. Yadav M.D., founder and CEO. “This funding will allow us to meet the overwhelming demand from spine surgeons across the country for our highly differentiated products and procedural solutions using the MoRe superalloy and continue our planned expansion into other important areas including structural heart disease.”
 
Bill Gallagher, a member of MiRus’ Board of Directors, indicated “Our implant technology is making complex spine surgeries less invasive and more durable. The properties of MoRe allow us to offer the MoRe Promise: if the MoRe rod ever fails leading to revision surgery, MiRus will pay for the cost of all revision implants. This has set a new bar for performance and trust in spine surgery.”
 
Tommy Martin, CEO of venture capital firm Mammoth Scientific, stated, “We are excited to partner with the blue chip team at MiRus and see the application of its disruptive technology platform across medical implants. MiRus has already revolutionized spine surgery and has a remarkable pipeline for groundbreaking products in complex extremity surgery and TAVR (transcatheter aortic valve replacement).”
 
MiRus spine implants are distributed through hospitals and surgery centers around the country. Chief Commercial Officer ahesh Krishnan stated, “Over the last two years, spine surgeons have been enthusiastic regarding our lumbar and cervical products and in response we are expanding our product portfolio with launches of innovative offerings for expandable and standalone interbodies, adult and pediatric deformity systems and posterior cervical systems. We are also launching GALILEO RPM (Remote Physiologic Monitoring), the only spine surgery focused outcomes and analytics platform. We are expanding our national sales and distribution network with multiple contracts with GPO, IDN, IHN and regional health networks around the country.”
 
MiRus is a life sciences company headquartered in Marietta, Ga., that develops and commercializes proprietary biomaterials, implants, and procedural solutions to treat spine, orthopedic conditions, and structural heart disease.