Moximed has announced it has secured approximately $33 million in funding.

Moximed, based in Hayward, Calif., is focused on developing minimally invasive, joint preserving solutions for patients with knee osteoarthritis.

The funding round included new investor Vertex Venture Holdings and returning investors New Enterprise Associates, Gilde Healthcare Partners, Morgenthaler Ventures and GBS Venture Partners.

Moximed indicated the funding will go toward the company’s efforts to gain FDA approval of the KineSpring System, a joint unloading knee implant for pre-arthroplasty patients, and grow commercial sales in Europe.