Lipogems, a clinical stage- global medical technology company that utilizes autologous adipose tissue for therapeutic use in orthopaedics and other specialties announces it has raised €12.5M (approx. $13.2M) in growth capital in 2022 to support the recent FDA approved IDE Studies for a separate and specific indication in Knee Osteoarthritis (OA).
Lipogems announces it raised €12.5M (approx. $13.2M) in growth capital for the FDA IDE Studies in Knee Osteoarthritis
The current economic size of osteoarthritis therapies is about $7 billion and is expected to reach $16 billion by 2030. Lipogems’ minimally invasive procedure is performed one time in a sterile setting (outpatient or operating room) in about 40 minutes and has shown in independent, investigator-initiated studies to improve the pain, function and quality of life of patients with this disabling disease.
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Leading investors ABC Medtech and LIFTT investors are providing Lipogems with the financial resources necessary to:
- Pave the pathway for a knee OA indication and reimbursement in the US
- Build infrastructure to support growth
- Educate and raise awareness to consumers and patients about Knee OA
- Expand into other markets with common conditions that have limited therapeutic options and where MicroFat can provide life-changing relief
As part of the transaction, the investors conducted extensive due diligence to validate the regulatory strategy and overall investment in the company, supported by Mazars and Fantozzi & Ass. (financial, accounting and tax matters), Bonelli, Erede and Partners (legal), Nomisma (business), Intexo SB (regulatory).
“In this highly regulated field, Lipogems is the proven leader in adipose tissue technologies and is currently being utilized in 250+ US orthopaedic centers and military installations, with 60,000 procedures performed to date worldwide. Of the 125+ independent peer-reviewed publications supporting Lipogems, over 35 are in Knee OA and this FDA study will prove the positive results that are commonly seen in this prevalent and disabling condition. This study and new funding validates our responsible regulatory and commercialization strategy and the trust our shareholder’s hold in Lipogems. Our roadmap is geared to provide common debilitating conditions have a simple and effective treatment option,” said Carl Llewellyn, CEO and President of Lipogems USA.
SOURCE: PR Newswire