Parsippany, NJ based Onkos Surgical, Inc., was founded in 2015 as specialist medtech company with a focus on surgical oncology. Early investors in the company were 3D printing venture, 3D Systems who has now provided further finance.
Raising a total of $17.6 million in this Series B funding round, Onkos will use the money to grow sales, marketing, and R&D platforms, “to drive aggressive growth and advance the pace of innovation that will dramatically change the lives of surgical oncology patients.”
3D printing for surgical planning
The Series B round was led by Canaan Partners, and together with 3D Systems existing investors 1315 Capital provided further monetary support. Canaan has $4.2 billion under management and to date has made 190 exits.
Onkos offer a surgical planning platform called uDesignTM Patient Solutions and has previously made use of 3D printing. Dr. Francis Patterson, Attending Musculoskeletal Oncology Physician and Assistant Professor at University Hospital in Newark, worked with the company to assist in preparation for a tumor removal operation.
3D Systems subsequently printed the tumor model using the patient’s CT scan and imaging technology. At the time Onkos Surgical Co-founder and CEO, Patrick Treacy remarked, “It is truly amazing how the advent of 3D printing technology has influenced healthcare. Personalized medicine is going to continue to grow and surgical oncology patients will benefit immensely from the innovation and customization that 3D printing technology enables.”
Regenerative biologics and modular limb salvage
Onkos also offer several other products including, GenVieTM Regenerative Biologics, “a suite of biologic products with applications specific to musculoskeletal oncology and healing” and ELEOS a “modular limb salvage system that is indicated for procedures where radical resection and replacement of the distal femur, proximal femur, proximal tibia or total femur is required.”
Under the My3D brand Onkos offer personalized implant, instrument and anatomic model designs as surgical aids. With My3D Onkos work with the surgeon and, “in partnership with technical experts to generate essential pre-operative and intra-operative surgical solutions.”
Investment part of longer term strategy
Healthcare is a key vertical for 3D Systems. From their specialist healthcare facility in Colorado the company has participated in a number of landmark medical procedures, even attending the operating room during particularly complex cases.
3D Systems CEO Vyomesh Joshi (VJ) has repeatedly stated the importance of Healthcare to the company’s success. The rationale behind such an an approach is that given the tightly regulated healthcare sector and the lengthy process necessary to certify and qualify technology, materials and processes then success in this market can be replicated across over segments.
Also, don’t forget that 3D Printing Industry readers can vote now in the 1st Annual 3D Printing Industry Awards where 3D Systems are nominated for their role in the landmark surgery to separate the conjoined McDonald twins.
Featured image shows 3D Systems Healthcare Technology Center in Colorado. Photo by Michael Petch.