Onkos Surgical, a leading innovator of solutions for musculoskeletal oncology and complex orthopedic procedures based in Parsippany, announced Wednesday that it has raised $15 million in Series C funding from its existing investor syndicate.
The new funding will drive revenue growth by accelerating the company’s research and development pipeline, expanding its commercial footprint and evolving manufacturing capabilities. These investments support the company’s focus on delivering surgeon-driven and patient-inspired approaches to address three main clinical challenges of complex orthopedic procedures — implant loosening, soft tissue failures and infection.
Onkos Surgical co-founder and CEO Patrick Treacy said the funding marks another significant milestone.
About Onkos Surgical
Onkos Surgical is a leader in innovative solutions for musculoskeletal oncology and complex orthopedic procedures. The company says its personalized approach supports improved patient outcomes and experiences using the latest innovations in virtual surgical planning, 3D modeling and printing, implant design and workflow optimization. More than 350 of the leading academic medical institutions in the U.S. choose Onkos Surgical Precision Orthopaedics.
“Despite the challenge and the impact associated with the pandemic, we were able to demonstrate significant revenue growth while executing on our innovation and commercial initiatives,” he said. “From the beginning, we have never wavered on our ‘why’ — which is that we believe individuals with cancer requiring surgery deserve solutions designed specifically for them. With this additional investment, Onkos is well-positioned to accelerate our growth and deliver meaningful innovation for our surgeon customers and the patients they care for.”
Adele Oliva, founding partner of 1315 Capital, the lead investor, and an Onkos Surgical board member, was thrilled by the news.
“The market Onkos serves has been ripe for disruption based on the unmet clinical needs of these highly specialized surgeons and their patients,” she said. “Driven by their unique purpose and highly-focused strategy, Onkos is delivering on the promise of innovation and solving clinical challenges that will lead to improved patient outcomes.
“With every key milestone achievement, the team demonstrates they are successfully creating a valuable and important business, and we continue to be excited about the company Onkos is building.”