CAPITAL
Following the formal close of our Seed Prime II round at $4.1M (pre-money valuation: $24M) announced in January, additional funds bring our total capital raised to $11.3M to date. These funds are allocated to three primary objectives: completing our first-in-human study in Canada, advancing R&D on our manufacturing capabilities and our proprietary toolset, and initiating preparatory activities for our pivotal U.S. trial, including FDA-required preclinical work and recruitment of clinical partners.
We plan to open a $30M Series A in Q3 2026, contingent on 3-month interim clinical data from our first in human, demonstrating safety and efficacy. Nanochon has already been actively engaging with potential leads for this round and we will share further details on the fundraising timeline, terms and process as the next quarter approaches.
CLINICAL
Nanochon is actively enrolling patients in our first-in-human safety study in British Columbia, Canada, with our principal investigator, Dr. Alex Hoffer. We are currently screening candidates for the initial cohort of 10 patients. Key inclusion criteria require participants to have an articular knee cartilage lesion confirmed on recent MRI, be between the ages of 22 and 60, and be able to attend follow-up visits.
In parallel with the clinical program, Nanochon has commenced additional preclinical testing in preparation for an IDE submission package to the FDA. Our manufacturing footprint at the Launchport has been expanded, and most validations are now complete, positioning us to produce commercial-ready Chondrograft devices.
COMMERCIAL & BUSINESS DEVELOPMENT
We are pleased to report a growing scientific and commercial presence at key industry forums. Our abstract — “Can 3D Printed Nanochon Implants Offer a Solution for Full-Thickness Cartilage Lesions in an Equine Preclinical Model?” — was accepted and presented at the American Academy of Orthopedic Surgeons (AAOS) 2026 Annual Meeting. AAOS is among the most prominent forums for orthopedic surgery, and we’re also thrilled to debut our first dedicated conference booth at this event, a meaningful milestone in our commercial visibility strategy.
Dr. Nathan Castro, Chief Technology Officer, has prepared additional abstracts for submission to the Military Health System Research Symposium (MHSRS) (August 3–6) and the American Orthopaedic Society for Sports Medicine (AOSSM) (Seattle, July 8–11), both drawing on our equine MRI data.
The team recently concluded a productive week at LSI USA and delivered a well-received pitch at the Maryland MedTech Summit. Additionally, we look forward to representing Nanochon at the American Orthopedic Society for Sports Medicine (AOSSM) in Seattle, July 8-11.
We look forward to keeping you up to date about our progress and invite you to follow us on LinkedIn for the most up to date information.