Orthox Closes $12.5M Series A Financing For Clinical Trials Of Knee Cartilage Repair Fibrofix™ Product Platform

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Orthox is a clinical stage company developing medical devices to repair damaged cartilage and other orthopaedic injuries. Orthox's FibroFixTM technology, originating from Oxford University, is a revolutionary tissue scaffold based on fibroin, a tissue regenerative protein extracted from silk fibres. FibroFixTM implants remove only the damaged tissue, employing bone-sparing, minimally invasive surgical techniques which enable rapid patient rehabilitation. By combining superb strength and low friction with tissue regeneration FibroFixTM offers the potential for better long-term outcomes, nurturing the body's innate capacity to heal itself. FibroFixTM products have the potential to address an annual market in the knee joint alone estimated at over $2 billion. The company was spun out of Oxford University and is led by experienced medtech entrepreneurs. The company has raised over £21m, including awards from leading biomedical funding programmes including Wellcome (£2.65m in Translation Awards), the NIHR i4i Programme (£1.9m in Late Stage Product Development Awards), the UK's Innovation Agency (a £1.7m Biomedical Catalyst Fund Award) and Horizon 2020's EIC Accelerator (a €2.5m grant). Orthox employs 18 people at its site in Oxfordshire. See our website here: http://www.orthox.com/