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FREMONT, Calif.--( BUSINESS WIRE )-- Moximed , an innovative medical device company on a mission to improve the standard of care for people with knee osteoarthritis (OA), today announced the closing on $61 million of Series D preferred stock financing with an option to close on up to an additional $30 million. The round was led by Elevage Medical Technologies , a Patient Square Capital platform, with participation from new investors Cormorant Asset Management and Warren Point Capital and existing investors New Enterprise Associates (NEA), Future Fund, Advent Life Sciences, Gilde Healthcare, Vertex Ventures HC, GBS Venture Partners, and Morgenthaler Ventures. Proceeds from the financing will be used to accelerate U.S. commercialization of Moximed’s MISHA ® Knee System, the world’s first implantable shock absorber (ISA) for knee osteoarthritis. OA is a common, debilitating condition, affecting the lives of over 32 million adults in the U.S, and projected to impact 70 million Americans by 2040 . Moximed utilized the clinically established benefits of weight load reduction on diseased joints to design and develop the MISHA Knee System, which is dedicated to helping people with mild-to-moderate OA preserve their knee joints while enjoying active lives. Implanted during an outpatient procedure, the MISHA Knee System has been shown to alleviate pain, improve function, and delay the need for total knee replacement in some patients. “ This financing is validation of the significant market opportunity for the MISHA Knee System,” said Chris Gleason, President and Chief Executive Officer of Moximed. “ We are seeing tremendous interest from surgeons and patients, and we are excited to rapidly expand our commercial infrastructure to address evolving patient needs in this growing market.” As part of the financing, Michael Wasserman, Ph.D., of Elevage Medical will join Moximed’s Board of Directors. Prior to Elevage, Dr. Wasserman served as Managing Partner of Maverix Private Equity and spent 17 years at H.I.G. Capital. Dr. Wasserman has served on the boards of numerous growth-stage businesses including HyperBranch Medical Technologies (Stryker), NeuWave Medical (Johnson & Johnson), and VertiFlex (Boston Scientific). “ Elevage is thrilled to partner with Moximed as it continues to generate commercial momentum,” stated Wasserman. “ The size of Moximed’s market opportunity, the product differentiation, and its clinical value proposition are highly compelling attributes. We are pleased that our investment will help fuel significant expansion of the Moximed business and positively impact the lives of countless patients.” “ A medical device financing of this magnitude is a strong vote of confidence in this competitive funding environment,” said James Leech, Chief Financial and Strategy Officer of Moximed. “ Our unique market opportunity, technology, and high caliber team enabled us to attract blue-chip investors in this important financing. We look forward to using these proceeds to expand patient and surgeon access to our breakthrough technology.” “ I am extremely proud of the Moximed team for taking the next steps in delivering a highly impactful product that addresses a significant clinical need for a large number of people,” noted Josh Makower, M.D., Co-founder and Chairman of the Board of Directors of Moximed. “ The MISHA Knee System has the potential to help millions of patients suffering from medial knee OA who are not ready for joint replacement.” About Moximed Moximed’s technology, the MISHA Knee System, is the result of over a decade of clinical research and development and is the first implantable shock absorber for the treatment of medial compartment knee osteoarthritis (OA). With experienced med-tech leadership and strong investor support, Moximed is poised to elevate the standard of care and quality of life for millions of pre-arthroplasty knee OA sufferers hindered by arthritic knee pain and function loss. Moximed is based in Fremont, California. To learn more, visit www.moximed.com . About The MISHA ® Knee System Moximed’s MISHA Knee System is for people with medial knee OA who failed to find relief from previous treatments. These patients continue to experience pain that interferes with daily activities, and are ineligible for, or unwilling to undergo, joint replacement due to age or absence of advanced OA. Knee OA develops when the joint’s natural shock absorbers, cartilage and meniscus, no longer cushion the joint from daily activities, leading to chronic pain and activity limitation. Many people with mild to moderate OA are otherwise healthy, in their prime working years, and have busy lives. For these patients, total knee replacement is a reluctant option, as it is an end-stage treatment for end-stage disease. OA patients without end-stage disease seek options that preserve their knee, activity level, and quality of life. Reducing weight on painful osteoarthritic joints is known to reduce pain and improve function. The MISHA Knee System is the first implantable shock absorber that reduces weight on the knee joint with every walking step, easing pain, preserving function, and possibly delaying joint replacement surgery. The implant is placed on the medial knee and moves with the natural joint, reducing about 30% of the peak force on the knee with every walking step. The MISHA Knee System is FDA cleared. About Elevage Medical Technologies Elevage Medical Technologies is a platform established by Patient Square Capital and is dedicated to supporting medical technology companies that can meaningfully improve health outcomes and quality of life for patients. Elevage provides capital along with deep technical, regulatory, and operational expertise to companies ranging from advanced clinical development to commercial acceleration stage. Elevage supports rapidly growing, highly differentiated companies with paradigm shifting technologies and strives to help build industry leading medical technology businesses. To learn more about Elevage, please visit www.elevagemedical.com .

● Gleason has a track record of leading teams and scaling innovative technology FREMONT, Calif.--(BUSINESS WIRE)-- Moximed, a medical device company on a mission to improve the standard of care for people with knee osteoarthritis (OA), today announced that Christopher Gleason has been appointed President and Chief Executive Officer (CEO). Gleason is an experienced medical device leader who has successfully commercialized multiple disruptive medical technologies through periods of exponential growth and dramatically improved the delivery of patient care. Most recently, he was Vice President of Sales at Relievant (acquired by Boston Scientific Corporation for an upfront cash payment of $850MM and additional undisclosed milestone related payments). He previously served as Vice President of Sales of Interventional Urology at Teleflex and in other sales leadership roles at NeoTract prior to acquisition by Teleflex in 2017. Gleason also served in leadership roles at Xenex Healthcare and Acclarent at Johnson and Johnson. “It is an honor to join Moximed as we expand access of the MISHA® Knee System to the many knee OA patients in the U.S. who may benefit,” said Gleason. “I have spoken to a number of patients, and I’m inspired by the amazing stories of how the MISHA Knee System has positively impacted their lives. We have a talented team who is relentlessly dedicated to advancing patient care, and I look forward to helping Moximed realize its tremendous potential.” “I’m thrilled to have Chris take the leadership role at Moximed and drive the expansion phase of the company,” said Moximed Co-Founder and CTO Anton Clifford, Ph.D. “We’re seeing tremendous clinical results from commercial use of the MISHA Knee System, and it’s the perfect time for Chris to broaden our commercial reach and enable greater product access for the benefit of patients.” “The Board enthusiastically welcomes Chris Gleason as our new CEO,” said Josh Makower, M.D., Co-Founder and Chairman of the Board of Directors at Moximed. “Moximed has a transformational, breakthrough product for the treatment of medial compartment knee osteoarthritis, and it is exciting to see Chris step in to lead this talented and resilient team towards the establishment of the MISHA Knee System as a new standard of care for patients suffering from this widespread condition.” “I have had the pleasure of being part of Chris’s success disrupting markets and creating businesses that generate over $100 million in annual revenues in two consecutive med-tech companies, NeoTract and Relievant. Now I look forward to him doing it again at Moximed.” noted Dave Amerson, Board Director, Moximed. “He is a uniquely qualified leader with expertise in commercial execution and fostering high performing cultures. I know he will relish the challenge of creating a new market in the orthopaedic space.” About The MISHA® Knee System Moximed’s MISHA Knee System is for people with medial knee OA who failed to find relief from previous treatments. These patients continue to experience pain that interferes with daily activities, and are ineligible for, or unwilling to undergo, joint replacement due to age or absence of advanced OA. Knee OA develops when the joint’s natural shock absorbers, cartilage and meniscus, no longer cushion the joint from daily activities, leading to chronic pain and activity limitation. Many people with mild to moderate OA are otherwise healthy, in their prime working years, and have busy lives. For these patients, total knee replacement is a reluctant option, as it is an end-stage treatment for end-stage disease. OA patients without end-stage disease seek options that preserve their knee, activity level, and quality of life. Reducing weight on painful osteoarthritic joints is known to reduce pain and improve function. The MISHA Knee System is the first implantable shock absorber that reduces weight on the knee joint with every walking step, easing pain, preserving function, and possibly delaying joint replacement surgery. The implant is placed on the medial knee and moves with the natural joint, reducing about 30% of the peak force on the knee with every walking step.i The MISHA Knee System is FDA cleared. About Moximed Moximed’s technology, the MISHA Knee System, is the result of over a decade of clinical research and development and is the first implantable shock absorber for the treatment of medial compartment knee osteoarthritis (OA). With experienced med-tech leadership and strong investor support, Moximed is poised to elevate the standard of care and quality of life for millions of pre-arthroplasty knee OA sufferers hindered by arthritic knee pain and function loss. Moximed is based in Fremont, California. To learn more, visit . i Morgan OJ, Hillstrom HJ, Ranawat A, Fragomen AT, Rozbruch SR, Hillstrom R. Effects of a Medial Knee Unloading Implant on Tibiofemoral Joint Mechanics During Walking. J Orthop Res. 2019;37(10):2149-2156. doi:10.1002/jor.24379.

BKS Uni is a partial knee replacement system designed to provide surgeons with medial fixed-bearing implants and instruments to facilitate intraoperative adjustments for precise and balanced treatment of unicompartmental knee arthritis BKS Uni partial knee replacement system. (Credit: Ortho Development) Ortho Development, a US-based designer and manufacturer of orthopaedic implants and instruments, has rolled out its BKS Uni partial knee replacement system. BKS Uni is the latest product in the company’s portfolio of Balanced Knee implant systems. The partial knee replacement system is designed to preserve bone, simplify surgical technique, and deliver the clinical benefits of the Balanced Knee System. It provides surgeons with medial fixed-bearing implants and instruments to facilitate intraoperative adjustments for precise and balanced treatment of unicompartmental knee arthritis. BKS Uni, when used together with other Ortho Development Balanced Knee Solutions, allows surgeons with a continuum of care to treat a wide array of knee pathologies. The integrated solution allows them to treat from partial knee replacements to advanced revision procedures, ensuring customised solutions for diverse patient needs. Ortho Development president Brent Bartholomew said: “We’ve created simple, intuitive implants and instruments to aid in streamlining workflow and make a technically demanding surgery more predictable. Surgeons and distributors will absolutely love this ASC-friendly two-tray system.” Straub Medical Centre orthopaedic surgeon Cass Nakasone said: “The BKS Uni is an intuitively and instrumentally simple system that allows surgeons to adjust the flexion gap to match the created extension gap or vice versa. “The simple instrumentation allows surgeons with varying levels of experience with unicondylar knee arthroplasty to achieve efficient and consistent surgical outcomes.” Earlier this year, Ortho Development entered a distribution partnership with Naviswiss, a Swiss medical technology company. The collaboration combines Ortho Development’s hip and knee arthroplasty products with Naviswiss’ advanced miniaturised hand-held navigation solutions. It includes Naviswiss’ pre-operative planning tool Naviplan, which enables fine-tuning of the pre-operative plan that can be transferred to the Naviswiss System and used during surgery. The collaboration also includes Naviswiss Knee, which provides accurate and straightforward navigation with axial alignment, resection depth and range of motion analysis. Naviswiss Hip, which provides both landmark- and CT-based navigation, will be commercially offered with Ortho Development’s Entrada, Ovation, Ovation Tribute and Legend implants.