By Gina Hall
Medical device company Moximed raised $33 million in private equity on Thursday to help patients suffering from knee pain.
The round included new investor Vertex Venture Holdings and returning investors New Enterprise Associates, Gilde Healthcare Partners, Morgenthaler Ventures and GBS Venture Partners. Christopher Shen, managing director and head of U.S. healthcare investing at Vertex, will join the board of directors as part of the investment. The company has raised $80.6 million to date.
Vice President Anton Clifford co-founded the Hayward-based company in 2006 to improve the standard of care for patients with osteoarthritis. CEO Kevin Sidow now heads up the company, which makes a joint-unloading knee implant for pre-arthroplasty patients who lead an active lifestyle.