Sam Brusco, Associate Editor01.25.23
Miach Orthopaedics, maker of the Bridge-Enhanced ACL Restoration (BEAR) implant, has closed a $40 million financing round. The company intends to use the funds for ongoing operations and expanded U.S. rollout of the BEAR implant.
The BEAR implant acts as a bridge to restore the patient’s own ACL, the first technology clinically proven to allow healing from a torn ACL. The standard of care reconstruction replaces the ACL with a graft.
$30 million in Series B equity was raised from lead investors Sectoral Asset Management and Endeavour Vision, as well as current investors Amzak Health, Smith+Nephew, DSM Venturing, and the NFL Players Association.
Miach also signed a $10 million venture debt term sheet with Silicon Valley Bank.
“Since launching our BEAR Implant in fall 2021, we’ve received tremendous interest from both surgeons and patients alike, who understand the benefits of healing a torn ACL rather than replacing it,” Patrick McBrayer, president and CEO of Miach Orthopaedics told the press. “More than 500 patients have been treated with the BEAR Implant commercially. This additional investment will allow us to expand our presence nationwide and bring the benefits of ACL restoration to more patients with ACL tears.”
“The Miach team has made significant progress in U.S. commercialization of the BEAR Implant over the last year and is well-poised for rapid growth in the ACL repair market,” said Joyce Erony, managing partner, Amzak Health, and chair of Miach’s board of directors. “The ability to attract sizeable investment from leading venture capital firms and banks in a difficult fundraising environment is a testament to the Miach team and the potential of the BEAR Implant to become the standard of care.”
The BEAR implant acts as a bridge to restore the patient’s own ACL, the first technology clinically proven to allow healing from a torn ACL. The standard of care reconstruction replaces the ACL with a graft.
$30 million in Series B equity was raised from lead investors Sectoral Asset Management and Endeavour Vision, as well as current investors Amzak Health, Smith+Nephew, DSM Venturing, and the NFL Players Association.
Miach also signed a $10 million venture debt term sheet with Silicon Valley Bank.
“Since launching our BEAR Implant in fall 2021, we’ve received tremendous interest from both surgeons and patients alike, who understand the benefits of healing a torn ACL rather than replacing it,” Patrick McBrayer, president and CEO of Miach Orthopaedics told the press. “More than 500 patients have been treated with the BEAR Implant commercially. This additional investment will allow us to expand our presence nationwide and bring the benefits of ACL restoration to more patients with ACL tears.”
“The Miach team has made significant progress in U.S. commercialization of the BEAR Implant over the last year and is well-poised for rapid growth in the ACL repair market,” said Joyce Erony, managing partner, Amzak Health, and chair of Miach’s board of directors. “The ability to attract sizeable investment from leading venture capital firms and banks in a difficult fundraising environment is a testament to the Miach team and the potential of the BEAR Implant to become the standard of care.”