Biomimedica, Inc. Raising $14.2 Million for Synthetic Cartilage to Repair Joints

A medical device company developing an earlier intervention for cartilage damage and osteoarthritis is raising a $14.2 million round. Biomimedica Inc. has already secured $11.9 million from 10 investors, according to a U.S. Securities and Exchange Commission filing. CEO Jeff Roberts did not return a call for comment. The company is developing synthetic cartilage for joint repairs, particularly in osteoarthritis, a degenerative disease of articular cartilage that can lead to the formation of lesions and bone spurs that cause pain in the joints upon weight bearing and movement.