Onkos Surgical™ Secures $17.6M in Series B Funding Led by Canaan Partners

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Apr 19, 2017, 07:09 ET

PARSIPPANY, N.J., April 19, 2017 /PRNewswire/ -- Onkos Surgical, Inc., a specialty medtech company focused on surgical oncology, today announced that it closed a $17.6 million round in Series B funding. Canaan Partners led the funding round and existing investors 1315 Capital and 3D Systems also participated. Onkos will use the new funding to expand its sales, marketing, and R&D platforms to drive aggressive growth and advance the pace of innovation that will dramatically change the lives of surgical oncology patients.

"Every day, musculoskeletal oncologists and their patients are faced with clinical challenges that have been overlooked for too long," said Patrick Treacy, CEO and Co-founder. "We have the portfolio to deliver meaningful innovation with our advanced 3D printing capabilities, limb restoration technologies, and biologic solutions - all enabled with a unique service and surgical planning platform called uDesign^TMPatient Solutions. The addition of leading investor Canaan Partners to our roster of investors further validates our opportunity to serve this unique and underserved market," said Treacy. "The combined intellectual capital and operating experience that Canaan Partners, 1315 Capital and 3D Systems provides to our leadership team will enable us to scale our business rapidly and efficiently."

With Canaan's investment, Stephen Bloch, General Partner at Canaan Partners, joins the Onkos Surgical Board of Directors. "The Onkos team brings unmatched experience and commitment to serving the challenges and needs of the surgical oncology community," said Bloch. "Patients and physicians trust Patrick Treacy and his Onkos colleagues to translate those clinical needs into innovative products that improve patient care."

About Onkos Surgical
Based in Parsippany, NJ., Onkos Surgical is a privately held surgical oncology company founded in 2015. Onkos Surgical believes surgical oncology deserves attention, focus and innovation. Through dedication and strategic partnerships, Onkos Surgical will advance surgical oncology solutions and advocate for and support the surgeons and caregivers that dedicate their lives to the surgical treatment of cancer.

For more information, visit www.onkossurgical.com

About Canaan Partners
Canaan Partners is an early stage venture capital firm that invests in entrepreneurs with visionary ideas. With $4.2 billion under management, a diversified fund and 190 exits to date, Canaan has invested in some of the world's leading technology and health care companies over the past 30 years. Canaan's focus areas include fintech, enterprise/SaaS, marketplace, e-commerce, biopharma, digital health and medtech. To learn more about our people and our portfolio, please visit canaan.com.

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SOURCE Onkos Surgical