GALWAY, Ireland--(BUSINESS WIRE)--Loci Orthopaedics Ltd, a clinical stage orthopaedic medical device company, is pleased to announce its participation at the prestigious 79th Annual Meeting of the American Society for Surgery of the Hand (‘ASSH’), taking place from 18-21 September 2024, in Minneapolis, USA. Professor Filip Stockmans, Scientific Advisory Board member and Primary Clinical Trial Investigator, will present at the International Wrist Investigators Workshop at the Great Lakes B, Hyatt Regency Minneapolis on Wednesday, 18 September 2024.
ASSH, accredited by the Accreditation Council for Continuing Medical Education, is renowned for its commitment to advancing the science and practice of hand and upper extremity surgery through education, research and advocacy on behalf of patients and practitioners. ASSH’s annual meeting serves as a platform for experts from around the globe to share the latest advancements and techniques in hand surgery.
Professor, Filip Stockmans, Scientific Advisory Board member and Primary Clinical Trial Investigator, commented: “The current most popular surgical option worldwide for thumb base-joint arthritis is resection arthroplasty of the trapezium using various methods to stabilize the joint in an attempt to counteract expected thumb shortening. Total joint arthroplasty is the most effective solution to avoid thumb shortening. The main failure modes of total joint replacement are linked to the trapezial cup with dislocation and cup loosening.
Loci Orthopaedics’ InDx Implant System is a hemi-arthroplasty implant which does not feature a fixed trapezial cup. The InDx Implant is designed to preserve the trapezium and replicate the natural biomechanics of the thumb joint. This innovative dual mobility implant is a novel treatment option with the potential to eliminate the principal cause of current joint failures and deliver more successful surgical outcomes.”
Barry Russell, CEO, Loci Orthopaedics, added: “With exciting positive preliminary results from our initial clinical investigation, our novel InDx Implant System has the potential to transform the lives of the growing number of underserved patients suffering from thumb base joint arthritis, a painful and disabling condition. We look forward to meeting and sharing our progress with surgical experts, key opinion leaders and the investment community at this prestigious conference.”
Loci Orthopaedics develops novel technologies that target major unmet clinical needs in orthopaedics extremities. The company’s primary device, its patented InDx Implant System, is an innovative, evidence-based implant for thumb base joint arthritis. Thumb base joint arthritis is a highly and increasingly prevalent condition, which is estimated to actively affect up to 5% of the US and EU population and 100 million people worldwide1.
The InDx implant is designed to replicate the functional biomechanics of the thumb base joint, with the aim of restoring natural motion for those affected by this painful and disabling condition. InDx’s novel design and biomechanics have the potential to address the limitations of current thumb implants which are often unsuccessful and are prone to both dislocation and movement post implantation.
Loci Orthopaedics recently announced the successful closing of an oversubscribed €12.8 million Series A financing, the largest medical technology fundraising so far in Ireland in 2024 and the largest orthopaedic fundraising ever for an indigenous Irish startup company. The financing round was led by new investors Seroba, Johnson & Johnson Innovation, JJDC, Inc., (JJDC) and the European Innovation Council (EIC) Fund. This brings the total grant and equity financing the company has raised to over €22 million.
About Loci Orthopaedics
Loci Orthopaedics was founded by Mr Gerry Clarke and Dr Brendan Boland as a concurrent spin-out from the University of Galway (Ireland), University College Cork (Ireland) and KU Leuven (Belgium). The company develops orthopaedic technologies to meet major unmet clinical needs with a primary focus on the orthopaedics extremities market. The company focuses on evidence-based design to ensure that its technologies are physiologically optimal to restore natural movement for superior clinical outcomes.
Following the oversubscribed €12.8 million Series A financing in July 2024, to date the company has raised over €22 million in grant and equity financing. The financing will enable the company to strengthen its team, augment the initial clinical investigation which indicates positive preliminary results, and develop additional clinical programs to support regulatory approval applications and future commercialisation in different geographies.
For more information, please visit www.lociorthopaedics.com
1 Zhang Y, Niu J, Kelly-Hayes M, Chaisson CE, Aliabadi P, Felson DT. Prevalence of symptomatic hand osteoarthritis and its impact on functional status among the elderly: The Framingham Study. Am J Epidemiol. 2002 Dec 1;156(11):1021-7. doi: 10.1093/aje/kwf141. PMID: 12446258.
