August 17, 2021

Monogram400x275Monogram Orthopedics, a startup developing a robotic platform for joint replacement surgery, has announced it crossed a 5,000 investor Series B milestone through crowdfunding platform StartEngine. The company is targeting a $34 million raise to scale and bring their technology to market to address the $19.6 billion joint replacement market through AI, robotics and 3D printing technologies.

The company said innovation in orthopedics has lagged behind other surgical specialties. While the rise of personalized medicine has driven advances in other fields, progress in orthopedics remains sluggish, with standardized implants and procedures “stubbornly persisting as the standard of care,” the company said. Approximately 100,000 hip and knee replacement failures occur every year, and 36% of patients say they regret the procedure altogether, Monogram added.

Improvements in robotics, new manufacturing techniques like 3D printing of medical-grade titanium alloys, and new machine learning image processing techniques are creating opportunities to improve patient quality of life, the company said. Yet all joint replacement procedures using robotic assistance today continue to use off-the-shelf implants. The company said it aims to disrupt the orthopedics field by offering a “one-size fits none” model and offer patients an enhanced individualized fit that is suited for each patient’s individual needs.

Why this matters

Joint replacement robots that can create customized joints instead of using one-size-fits-all components will appeal to more patients and improve outcomes.

“We started Monogram Orthopedics to build a completely different kind of orthopedics company, free of the constraints that many of the large companies face when trying to innovate,” said Dr. Doug Unis, a board-certified orthopedic surgeon and co-founder and chief medical officer of Monogram. “We are poised to do what no other company has done in the total joint arthroplasty market before – harness technology to build truly personalized implants that fully tap into the power of intelligent robotics.”

The company’s proprietary approach to total knee arthroplasty (TKA) surgeries will address major problems in joint replacement, including mechanical loosening, bone loss, dislocation, ease of revision and fracture. Using the Monogram software platform and product solution architecture, surgeons will be able to design optimized implants that improve stability and physiological loading.

The company has raised more than $20 million so far, and is currently raising up to $34 million through this funding round. The company is using StartEngine “to allow patients and caregivers to be active participants in the advancement of precision joint replacement surgeries,” the company said.

For more details on the company, visit the Monogram Orthopedics website here. The crowdfunding campaign can be accessed here.