Cohesys SPV | BoneTape MedTech Investment
Alto Securities
Cohesys SPV
Closed
Offering details About the issuer Meet the team Performance
Alto Capital’s SPV will invest in Cohesys, an early-stage private medtech startup building BoneTape, an innovative new technology for use in surgery on fractured bones.
Offering Details
Offering Name: Cohesys SPV
Minimum Investment Size: $10,000
Type of Offering: 506(c)
Investor Type: Accredited Investors
Launch Date: May 20, 2024
Fees: The SPV charges a 2% upfront management fee, and an additional 0.25% (25 basis points) annual fee will be applied, included in the first year.*
Anticipated Final Close: September 2024
Asset Class: Private Company SPV
*The SPV will collect a 4.50% upfront fee, which will be held in reserve. For a detailed breakdown of additional fees and expenses associated with the underlying Fund, please refer to the offering documents.
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About the Investment
Meet BoneTape, Cohesys’ flagship product
BoneTape is a resorbable, flexible fixation system designed to realign and stabilize bone fragments and fixate fractures, bone grafts, and bone substitutes. It consists of a thin polymeric backing that contains a novel polymer designed to anchor to bone, potentially reducing surgical time, reoperation rates, and trauma associated with fracture repair surgery.
Cohesys
Founded in 2018 and based in Toronto, Canada, Cohesys is a medical device company currently focused on bringing its flagship product BoneTape to the market. BoneTape aims to disrupt a legacy surgical-repair industry dependent on invasive rigid plates and screws.
The business sits at the intersection of scientific advancement and the potential for positive, real-world impact on everyday people.
Founders
Early Team
Alto Capital
The surgical-repair industry for fractured bones appears ripe for disruption
The process of repairing fractured bones with surgical solutions is complex and highly invasive. Existing bone quality issues complicate these procedures, and postoperative pain and device failure are not uncommon, with hardware removal rates reported between 10% and 40%.
Metal plates to fix bone fractures have been used since 1895. Despite the shortcomings of this method, improvements in technology have been slow. New materials have been introduced, but existing fixation systems still require drilling, plates, and screws. Research into new materials and methods remains limited.
Cohesys aims to change the trajectory of surgical bone repair with biodegradable, conformable, and resorbable material. BoneTape is intended to be easier to use and have a lower risk of long-term complications as it dissolves naturally, differing from many permanent devices.
BoneTape targets a substantial market opportunity, estimated at $30 billion
The target customers — surgeons in trauma centers — prioritize ease of use and patient outcomes over cost. These customers tend to be concentrated in hospitals and trauma centers, providing advantages for BoneTape sales efforts.
Cohesys plans to initially address the craniomaxillofacial (facial reconstruction) fracture-surgery market. With 536,500 procedures per year and an average payment of $16,604, the total market opportunity for CMF is estimated at $8.8 billion, of which $2.6 billion is for implantable devices like BoneTape.
Cohesys has found early traction in fundraising and development
Regulatory Pathway
Cohesys is preparing an FDA application for BoneTape through the 510(k) pathway, which does not normally require clinical data. However, the FDA may request it, which is why they are running a clinical trial at Sunnybrook Hospital.
Simpler, cost-efficient surgeries
BoneTape aims to provide a paradigm shift in orthopedics, offering a new method for surgeons to provide critical care to patients.
The Cohesys team intends for BoneTape to revolutionize orthopedic repair procedures by:
Newfound prioritization of patients
For patients, BoneTape offers a less-invasive option with a more comfortable healing journey. Unlike titanium plates and screws, BoneTape dissolves within 18 months, simplifying the surgical process and leading to reduced distribution costs for medical professionals.
For a minimum investment of $10,000 into the Alto Capital Cohesys SPV, individual accredited investors can back Cohesys in its early days as it navigates clinical trials and early customer adoption.
Investing in early-stage medtech companies involves significant risks, including potential delays in regulatory approvals and market adoption challenges.
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Offering Documents
Please refer to the investment offering details for more information.