CAPITAL
After the close of our Seed Prime II round in January, we received significant interest from follow-on investors, so we extended the round through Q2 to accommodate them. We’re pleased to welcome several new shareholders onto our cap table who contributed an additional $320k. These funds are being applied to completing our first-in-human safety and performance study in Canada and advancing R&D on our manufacturing capabilities, including our proprietary toolset, packaging design, and shelf-life testing. Capital will also be applied to sterilization validation, which enables us to manufacture terminally sterilized final finished products.
We plan to open a $30M Series A in Q4 2026, once we have achieved at least 3 months of interim clinical data demonstrating safety and performance, as measured by pain assessments and MRI. This next funding round will be allocated to our two-year, multi-site pivotal trial and preparations for our FDA submission. Additionally, Nanochon is preparing to have a growing presence at key industry meetings to continue building relationships with PIs for studies, key opinion leaders, and strategic acquisition partners. We will share further details on the fundraising timeline and process as the next quarter approaches.
CLINICAL
Nanochon is actively screening patients in our first-in-human safety study in Canada, and we’re thrilled to announce that we have added a new site in Toronto. Dr. Jihad Abouali, an experienced clinical investigator and specialist in regenerative sports medicine, will serve as the Investigator at this site. We invite you to monitor trial progress on ClinicalTrials.gov (ID: NCT07249489) and the Canadian registry (ID: 101-2024-CAN).
COMMERCIAL
Nanochon turned 10 years old this quarter! Over the past decade, we’ve grown from a concept into a clinical-stage company focused on advancing Chondrograft™, our novel 3D printed, off-the-shelf implant for cartilage restoration. We’ve raised over $14M, received multiple patents, and been accepted into top-tier accelerators. Every day, we’re striding towards achieving the goal we set in 2016: providing patients who don’t yet qualify for knee replacement with a solution to help them regrow their own cartilage.
This week, the team is attending the American Orthopaedic Society for Sports Medicine (AOSSM) meeting in Seattle, where we hope to interact with clinical partners for our pivotal trial at our booth. Following this event, we’ve been invited to pitch in Boston at the exclusive Seed2Table networking event, where we hope to meet investors who can help anchor our Series A round.