A few years ago, 3D printers seemed to be everywhere. Today, less so, but the technology still holds profound promise in real-world applications. Monogram Orthopaedics is one of them.
Currently, when you get a joint replacement or perhaps an update on your hip, surgeons grab an off the shelf product and bolt it into the patient. It works pretty well, I guess.
But as we all know, one size fits all is not optimal. Even more so for something as vital as a ball joint. Monogram apparently has the solution:
According to the company:
“Monogram Orthopaedics is attempting to refine a potentially revolutionary approach to joint implant surgery. Our model utilizes machine learning and 3D printing to create customized and patient-specific implants. By linking 3D printed implants and advanced robotics via automated digital image analysis algorithms, Monogram has achieved greater stability, implant insertion accuracy, and fit than current conventional methods, based on our collaborative study with UCLA Biomechanics Laboratory.”
As we understand it, no one else is doing this today. To quote the company:
“Currently, we are not aware of any well-known orthopaedic companies that broadly offer robotic technology in combination with surgical navigation for the insertion of patient-specific orthopaedic implants.”
One company is doing “patient optimized implants” but is described as a “completely different paradigm than Monogram.”
Monogram custom prints a hip or knee generating far better outcomes for the patient. If you think about it, this really makes sense. It makes you wonder why custom printed parts were not being utilized years ago. Additionally, Monogram utilizes a surgical robotics system for the implants.
Founded by Dr. Douglas Unis, an attending orthopaedic surgeon for the Mount Sinai Health System, Unis received a $30,000 grant from the ELabNYC biotech startup incubator to get things going.
The grant was followed by a Seed Round in 2017 at a valuation of $6 million. Last year, several convertible notes raised additional capital at a valuation of $10 million (final round).
Now Monogram is raising capital on SeedInvest using the Reg A+ exemption.
Today, the Series A round is seeking up to $20 million at a pre-money valuation of $21.25 million. So far, $4.5 million has been raised. Investors are receiving preferred equity once again. The company is hoping to receive FDA approval to move forward with the Medtech and the company says it needs up to $7 million to receive this approval
It is a fascinating pitch for something the founders believe is the future of orthopaedic surgery. The end goal may be an acquisition if things work out.
There are presentations and webinars available on the offering page if you are interested in more information.
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