London-based orthopedic technology company OSSTEC has raised $8 million to support its first U.S. procedures using ASCENT, a cementless, fixed-bearing partial knee replacement system.
The financing round was led by EMBRYO Ventures, with participation from Neovate Capital, New Wave Ventures, Oxford Technology Innovation Finance and Empirical Ventures, according to a Nov. 3 news release.
The funding will support efforts to secure FDA clearance for ASCENT and its accompanying CLARITY surgical instrumentation, with first-in-human U.S. procedures planned for the first half of 2027. Neither product has received FDA clearance or is available for sale in the U.S.
The funding also will support training of OSSTEC’s surgeon faculty at leading partial knee centers. The company established U.S. operations earlier this year.
OSSTEC said about half of knee replacement patients are suitable for a partial knee, but only about 10% receive one. Its implant technology uses 3D printing and is designed to enable biological fixation without cement.
The company is expanding a pipeline of cementless applications beyond partial knee replacement and evaluating integration with robotic surgery platforms.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
