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Vivoxid Ltd closed €5M financing round


Vivoxid Ltd closed €5M financing round

Turku, Finland: Vivoxid Ltd today announced it completed a €5 million private placement. Vivoxid Ltd, a Finnish medical device company develops, manufactures and markets new biomaterial products and services for tissue repair and regeneration in dentistry, head and neck, orthopaedic, vascular and wound care areas.

The financing round was led by Sentica Partners Oy. Other two major investors were Varma Mutual Pension Insurance Company and Sitra. Number of private persons and companies also participated. The Company will use the proceeds for expansion of its international marketing activities, enlarging its clinical program and other R&D activities as well as production capacity. Vivoxid is actively pursuing partnering projects with potential companies.

- We are ready to expand our international business, which means both larger volume and geographical area, says Dr Kauko Kurkela, CEO of the Vivoxid Ltd.
- The high-profile group of investors gives us confidence in many different areas like business partnering, distributorships, alliance and financing operations.

- Vivoxid Ltd. has with unusual efficiency delivered medical products based on the state of the art biomaterials research of Finnish universities. Many of the success factors are already in place, such as a very competent team of key personnel and clinically tested products. The biomaterial industry in Finland, and especially in Turku, is acknowledged to be world class. Thus, the needed additional resources for Vivoxid’s growth are available. The company is at such stage of development and business, that the resources we investors provide, can have a very favourable impact on company’s growth, says Investment Director Matti Lappalainen from Sentica Partners Oy.


FOR ADDIONAL INFORMATION, PLEASE CONTACT:

Dr. Kauko Kurkela, CEO, Vivoxid Ltd, Tel: +358 2 251 8466,
Email kauko.kurkela@vivoxid.com
Address: Tykistökatu 4A, Fin-20520 Turku, Finland

Mr Matti Lappalainen, Investment Director, Sentica Partners Oy, Mobile +358 400 671 110
Email matti.lappalainen@sentica.fi
Address: Box 1750, Fin-70211 Kuopio, Finland

Enclosure: Notes to editors:

About Vivoxid Ltd

Vivoxid Ltd, Turku, Finland develops, manufactures and markets new biomaterial products for tissue repair and regeneration in dentistry, head and neck, vascular, orthopaedic and wound care areas. In addition to bioactive glass products (AbMin™) it develops bioactive glass / polymer composites, cellulose sponge products (Cellonex™) and titanium oxide surface modification (MetAlive™) services.

Vivoxid launched in Europe last year AbMinCranio™ bioactive glass products for the treatment of sinus obliteration, repair of frontal bone and repair of orbital floor.

About Sentica Partners Oy
Sentica Partners, www.sentica.fi, is the leading private venture capital management company and development partner for SMEs in Finland. The company was formed as Sentio Invest Oy and Teknia Invest Oy merged in 2004. Sentica has offices in Kuopio, Tampere, Lahti, Joensuu, Mikkeli and Vantaa. Sentica manages € 83 million investments through 13 different funds. The company has investments in over 100 companies.

About Varma Mutual Pension Insurance Company
Varma Mutual Pension Insurance Company is the largest private sector pension insurer in Finland; entrusted with pension funds of more than € 21,2 billion. Varma is the biggest investor in Finland. The Company is an important actor in the capital markets, as well as being a significant real estate investor.

About Sitra
Sitra, The Finnish National Fund for Research and Development, is an independent public foundation under the supervision of the Finnish Parliament. Its activities are designed to promote the economic prosperity of the Finnish people. The means used to achieve this are research and training, innovative projects and business development, and venture capital. Sitra’s activities are fina


Publisher Contact Information:

Vivoxid Ltd.
+358 2 251 8466
kauko.kurkela@vivoxid.com

Company profile of Vivoxid Ltd.
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