# Hyalex Orthopaedics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hyalex-orthopaedics

- Industry: Medical Devices & Equipment
- Headquarters: Lexington, US
- Website: www.hyalex.com
- Total disclosed funding: $33M
- Latest round: Series A (Mar 28, 2019)
- Investors on record: 5

## About

Hyalex Orthopaedics Inc. is a company focused on developing innovative synthetic cartilage products. Their cutting-edge technology aims to restore damaged joint surfaces during surgical procedures, enhancing patient outcomes in orthopedic care.Founded in 2016, Hyalex Orthopaedics Inc. is based in Lexington, US. The company specializes in synthetic cartilage solutions and has not undergone any major pivots or changes in its business strategy. The firm was co-founded by Carl Vause and Mira Sahney, who have experience in the medical device industry. The most recent funding round occurred in March 2019, raising USD 17 mn in a Series A round from investors including Canaan Partners, DSM Venturing, Johnson & Johnson Innovation, and Treo Ventures, bringing the total amount raised to USD 17 mn.Hyalex Orthopaedics, Inc. specializes in the development of innovative synthetic cartilage products aimed at restoring damaged joint surfaces during surgical procedures. Their flagship offering, the HYALEX® Knee System, utilizes a biomimetic material designed to replicate the structure and functionality of native cartilage, addressing the needs of patients suffering from cartilage damage. The company markets its products primarily in the United States, targeting hospitals, orthopedic surgeons, and medical facilities that require advanced treatment options for cartilage repair.Hyalex Orthopaedics generates revenue through direct sales of its proprietary HYALEX® Knee System and related products to healthcare providers and institutions involved in orthopedic care. The transaction structure typically involves B2B sales, where hospitals and surgical centers purchase these products for use in surgical procedures. Pricing plans for the HYALEX® system are structured to accommodate varying needs of different healthcare providers, fostering partnerships that ensure access to the latest advancements in cartilage restoration technology.In March 2019, Hyalex Orthopaedics Inc. raised USD 17 mn to further its growth initiatives. The company is focused on developing new products aimed at enhancing joint health, with plans for future launches in the next 18 to 24 months. Additionally, Hyalex aims to expand its market reach beyond the United States, targeting Europe and Asia by 2023, leveraging recent funding to support these ambitious growth strategies.

## Funding rounds

- Series A, Mar 28, 2019, $17M — Canaan Partners, Johnson & Johnson Innovation, DSM Venturing, Treo Ventures
- Series A, May 31, 2017, $16M — Canaan Partners, Johnson & Johnson Innovation, OUP (Osage University Partners)

## Investors

- Canaan Partners (https://capitalatlas.ai/funds/canaan-partners) — Series A
- Johnson & Johnson Innovation (https://capitalatlas.ai/funds/johnson-johnson-innovation) — Series A
- OUP (Osage University Partners) (https://capitalatlas.ai/funds/oup-osage-university-partners) — Series A
- DSM Venturing (https://capitalatlas.ai/funds/dsm-venturing) — Series A
- Treo Ventures (https://capitalatlas.ai/funds/treo-ventures) — Series A