Orthocon

About Orthocon

Orthocon, Inc., founded in 2005 by Dr. Richard Kronenthal, operated as a therapeutic device company focused on the surgical market. The firm developed, manufactured, and sold implantable products designed to control bone bleeding and facilitate localized drug delivery. Its business model centered on selling these specialized surgical devices directly to hospitals and surgical centers. The company's target clients were surgeons across various specialties, including cardiothoracic, craniomaxillofacial, spine, orthopedic, neurological, and trauma surgery.

A key milestone for Orthocon was securing FDA 510(k) clearance in 2010 for its flagship product, HEMASORB® Absorbable Bone Hemostat Matrix. This was followed by approvals for sale in Europe and Canada in 2011. HEMASORB is a ready-to-use, putty-like material that stops bleeding from cut or damaged bone by acting as a mechanical barrier. Unlike traditional bone waxes, it is biocompatible, water-resistant, and fully absorbable by the body within approximately 30 days. To improve precision during application, the company launched HEMASORB Apply™ in 2011, a custom-designed syringe-like applicator preloaded with the hemostatic putty. The company's technology platform was also being developed to enhance bone healing and enable controlled, local drug delivery.

Orthocon's growth was supported by venture capital financing, raising a total of $27.2 million over two Series B rounds. Key investors included Canaan Partners, ProQuest Investments, and BB Biotech Ventures. In April 2013, Orthocon was acquired by Abyrx, a new entity formed to accelerate the growth of a portfolio of biosurgical products. The acquisition integrated Orthocon's assets and product lines, including HEMASORB, into Abyrx's expanding portfolio. John J. Pacifico, who had been appointed President and CEO of Orthocon in 2011, continued to lead the new combined entity.