NanoHive Medical, a leader in 3D-printed titanium spinal fusion, announces $7 million in Series C funding to support the company’s rapid growth and increase profitability.
A significant portion of the funding will be invested in expanding the company’s commercial presence in the US. In addition, NanoHive plans to expand its innovative Hive portfolio of soft titanium implants through new product lines, launches and the development of smart sensor implants. The company also aims to enter selected international markets and expand 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 with the Series C financing, NanoHive Medical welcomes Greg Hoffman and David Scott as new members of the Board of Directors. Hoffman is Managing Partner of Hoffco Holdings and a founding member of Portfolio Group, while Scott is co-founder and former CEO of Xator Corporation and now leads a family-owned company with a broad investment portfolio. Both have extensive experience in building companies and have been active in NanoHive’s previous funding rounds. They join the existing leadership team of Sami El-Saden, Ian Helmar (CTO) and Patrick O’Donnell (CEO).
NanoHive Medical focuses on the development and commercialization of highly specialized 3D-printed spinal fusion implants. This technology offers customized solutions for patients and has already demonstrated positive clinical experience. The Soft Titanium implants are characterized by their special material properties, which offer improved integration and durability.
The current financing round will enable NanoHive to further develop its products and enter new markets. With the support of experienced investors and strategic partners, the company is well positioned to bring its innovative solutions to a broader market and make further advances in the field of spinal surgery.
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