LIPOGEMS RAISES €12.5M ($13.2M) TO ACCELERATE THE EXPANSION IN KNEE OSTEOARTHRITIS
ATLANTA, Dec. 23, 2022 /PRNewswire/ -- Lipogems, a clinical stage- global medical technology company that utilizes autologous adipose tissue for therapeutic use in orthopaedics and other specialties today 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).
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.
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.
About ABC Company
ABC Company S.p.A. is a permanent capital vehicle publicly listed on Euronext Milan Stock Exchange (ABC). The company’s Business Model is structured in the independent areas of Investments and Advisory. ABC Company, registered as a “Benefit Company” under Italian law, allocates 10% of the distributable profits to charity projects. Website: https://abccompany.it
About LIFTT SpA
LIFTT is a Holding Company providing Venture Capital to early and late-stage ventures in healthcare and other industries. LIFTT was founded and is chaired by entrepreneur and scientist Stefano Buono, Founder/CEO of Advanced Accelerator Applications (NASDAQ: AAAP), acquired by Novartis for USD3.9bn in 2017. Incorporated in 2020, LIFTT is currently invested in 31 companies. For more information: www.liftt.com
Lipogems is a privately held medical device company that uses adipose tissue solutions to help maintain or restore patient lifestyles and to improve quality of life and recovery times. Lipogems’ products are used in a diverse range of areas, including orthopaedics, general surgery, plastic and reconstructive surgery, exploring products for wound care and more. Lipogems is available in 29 countries and the aim is getting patients back to their lives through our global reach and scientific excellence. Information about Lipogems can be found on: http://www.understandinglipogems.com/
Website: www.understandlipogemsphysicians.com or www.understandlipogems.com
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