Devicemaker Moximed has raised $40 million to develop what the company says is the world's first implantable shock absorber for the knee.
The Misha knee system is designed to be implanted in an outpatient procedure, Moximed said Aug. 16. It is intended as an alternative to total knee replacement for patients with mild to moderate osteoarthritis.
The series C equity and debt financing round was led by Advent Life Sciences, Moximed said.