Medical technology company Lipogems has secured $13.2m in growth capital to support the recent US Food and Drug Administration (FDA)-approved investigational device exemption (IDE) studies for a separate and specific indication in knee osteoarthritis (OA).

The investment round saw the participation of investors like ABC Medtech and LIFTT investors. They will provide the necessary financial resources to open the path for knee OA indication and reimbursement in the US.

According to the medical technology firm, the funds will also be used to develop infrastructure to support growth. It will also help to educate and raise awareness among consumers and patients about knee OA.

Lipogems said that the latest round would help to enter other markets with common conditions with limited therapeutic options and where MicroFat can offer relief.

The investors undertook thorough due diligence as part of the deal to confirm the regulatory approach and overall investment in the company.

Lipogems USA CEO and president Carl Llewellyn said: “In this highly regulated field, Lipogems is the proven leader in adipose tissue technologies and is currently being utilised in 250+ US orthopaedic centres and military installations, with 60,000 procedures performed to date worldwide.

“Of the 125+ independent peer-reviewed publications supporting Lipogems, over 35 are in Knee OA and this FDA study will prove the positive results that are commonly seen in this prevalent and disabling condition.

“This study and new funding validate our responsible regulatory and commercialisation strategy and the trust our shareholders hold in Lipogems. Our roadmap is geared to provide common debilitating conditions have a simple and effective treatment option.”

The firm uses adipose tissue solutions to maintain or restore patient lifestyles and to boost the quality of life and recovery times.

Its products are used in sectors like orthopaedics, general surgery, plastic and reconstructive surgery, and exploring products for wound care.

The independent, investigator-initiated studies have shown that Lipogems’ minimally invasive procedure improves the pain, function, and quality of life of patients with this disabling disease, the US-based medical device firm claimed. It is completed one time in a sterile setting (outpatient or operating room) in about 40 minutes.