D.C.’s Nanochon LLC is raising $3.5 million to make it through the final leg of its journey to bring a 3D-printed knee cartilage implant to market.
The company has already raised $1.8 million toward the round, according to a Securities and Exchange Commission filing. The company said it plans to use the funds to begin human trials and ultimately get Food and Drug Administration approval for its 3D-printed implant.
Nanochon has raised $5 million since its founding in 2016 to fund the clinical trials needed to bring its medical device to market.
The requirement of close to $10 million just to get to market might seem like a daunting task, but for Nanochon co-founder and CEO Ben Holmes it’s a small hurdle to be a billion-dollar asset.
“That FDA process goes from a liability to actually becoming an asset because you’re actually building verifiable clinical data to show that what you’re doing actually has efficacy and that’s an extremely powerful marketing tool,” Holmes said.
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