Monogram Orthopedics, a pioneer in developing patient-optimized, 3D-printed orthopedic implants enabled by robotics and advanced pre-operative imaging, will conclude their Reg A+ funding round on May 10, 2023. This marks an important milestone for the company as it prepares for a planned NASDAQ listing under the ticker symbol “MGRM.”
Monogram Orthopedics IPO
Following the conclusion of their Reg A raise, the startup is set to IPO on the NASDAQ on May 18th, 2023.
Knee replacement surgeries are common, with approximately 1.7 million patients receiving the procedure each year. However, up to 20% of these patients experience chronic pain after surgery, and 40% of total knee replacement revision surgeries are caused by mechanical loosening. Monogram Orthopedics aims to address these issues by 3D-printing FDA-approved implants tailored to each patient's unique anatomy, reducing the number of incisions and bone loss during surgery.
CEO Benjamin Sexson highlights the company's ambition: “By 2027, 50% of knee replacement surgeries will be performed robotically. Monogram is currently the only company offering FDA-approved, 3D-printed, patient-specific implants that, in the future, will be inserted with active milling robots.” The upcoming NASDAQ listing will be a significant achievement for the company, reflecting its success in transforming the field of orthopedic surgery.
Monogram Orthopedics has already demonstrated its innovative technology with a total knee replacement surgery performed by a surgeon in New York City on a cadaver patient in Austin, Texas. Their patented 3D-printed replacements facilitate a bone-to-implant bond, eliminating the need for bone cement.
About Monogram Orthopedics
Monogram Orthopedics is revolutionizing the orthopedic surgery landscape by combining personalized knee implants with precision robotic surgical assistants, providing patients with better-fitting knee replacements through minimally invasive surgery. With 100,000 knee replacements failing each year in a $19.4 billion market, the company is poised to capitalize on a significant opportunity to improve patient outcomes.
Monogram's StartEngine Raise & Retail Investor Wins
Monogram Orthopedics has been a crowd favorite raising one of the largest equity crowdfunding raises on StartEngine. The startup raised a whopping $23.7 million on StartEngine, making it the third largest raise on the platform ever. In total, the company has more than 14,000 investors on its cap table from that raise alone. But it has conducted several other raises on platforms like SeedInvest and DealMaker, making that number considerably higher.
The Monogram Orthopedics IPO will be the second high-profile IPO in the equity crowdfunding space. Knightscope conducted an IPO in early 2022 with over 20,000 investors on its cap table, and rose to unicorn status a day after its IPO.