BOSTON, Aug. 5, 2024
/PRNewswire/ -- NanoHive Medical, a leader in 3D-printed titanium
spinal interbody fusion devices, announces a $7M Series C Financing to capitalize the
company's rapid growth and a priority on company-building to
profitability. Outcome Capital served as Strategic and Financial
Advisor to NanoHive.
The primary use-of-proceeds include: (i) expanding the U.S.
commercial organization; (ii) expanding the company's innovative
Hive™ portfolio of Soft Titanium® spinal interbody
fusion devices by way of product line-extensions, product launches,
and "smart" sensor implant delivery research and development; (iii)
entering select international markets; and (iv) expanding strategic
partnerships. NanoHive's CEO, Patrick
O'Donnell, states: "The company is quite fortunate to have a
group of investors that strongly support our team and technology
who also bring a distinguished track record of building companies
to and through profitability. The entire organization is excited to
further execute on the company's invigorated strategy aimed at
broadening our Hive™ Soft Titanium® portfolio's
successful clinical experiences with more patients and surgeons
into more markets."
Concurrent to the Series C Financing, the company is pleased to
welcome Greg Hoffman and
David Scott to the company's
Managing Directors Board. Mr. Hoffman is the Managing Partner of
Hoffco Holdings and founding member of Portfolio Group. Mr. Scott
was the cofounder and CEO of Xator Corporation and leads his family
office that has investments in a broad range of industries. Both
Mr. Hoffman and Mr. Scott are successful company-builders with
significant operating expertise as well as investors in the
company's Series A, B, and C financing rounds. Mr. Hoffman and Mr.
Scott will join current Managing Directors Sami El-Saden, Ian
Helmar (Chief Technology Officer), and Patrick O'Donnell (Chief Executive Officer).
About NanoHive Medical LLC
NanoHive Medical is a pioneer and leading innovator in 3D printed
spinal interbody fusion implants and instrumentation. The company's
proprietary, biomimetic Soft Titanium® technology
clearly distinguishes their products in the $2.2B spinal interbody fusion device market. The
Hive™ portfolio of interbody fusion devices provide
surgeons and their patients ideal biomechanical elastic modulus
properties, clear and precise diagnostic imaging capability,
osteoblast cell attraction and integration – all features that lead
to consistently strong fusion constructs and efficacious clinical
experiences. NanoHive Medical is based in Woburn, Massachusetts U.S.A. Learn more at
www.NanoHive.com.
Contact: Patrick O'Donnell, CEO
& President, NanoHive Medical
LLC, Patrick.odonnell@nanohive.com
Website: www.nanohive.com
NanoHive Medical, LLC,12 Gill Street, Suite 4500 ,Woburn, MA 01801, 844-943-5433
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SOURCE NanoHive Medical