Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


Swedish Medtech company BONESUPPORT AB receives SEK 135 million from new share issue


Swedish Medtech company BONESUPPORT AB receives SEK 135 million from new share issue

The medical technology company BONESUPPORT AB in Lund, which develops synthetic, injectable ceramic bone substitute, has received SEK 135 million from a new share issue. The new investors include the venture capital companies HealthCap of Stockholm and NBGI Ventures of London. The new funds will mainly be used for the impending launch of BONESUPPORT’s first product CERAMENT™|BONE VOID FILLER, to expand patient studies of the main product CERAMENT™|SPINE SUPPORT, and to continue developing the company’s R&D pipeline.

The new share issue means BONESUPPORT will expand ownership in the company with venture capital companies HealthCap and NBGI Ventures joining existing owners, including, Innovationskapital, Teknoinvest, FERD Venture and Vencorp Partners to give a capital injection of SEK 135 million.

“Skeletal disease is a widespread and growing modern-day problem. Our research and the studies we have carried out also show a very large potential for our products. The new funds mean that we will now be able to invest more heavily in launching our first product, CERAMENT™|BONE VOID FILLER,” says BONESUPPORT’s CEO Fredrik Lindberg.

BONESUPPORT focuses on developing products based on injectable ceramic bone substitute mainly for the treatment of bone defects and osteoporosis. The market for bone graft material is estimated at around USD 2 billion with an annual increase of over 25 per cent. BONESUPPORT’s synthetic bone substitute CERAMENT™|BONE VOID FILLER has been approved by the FDA for launch on the US market. The product is aimed at the spinal fusion segment as well as broader orthopaedic applications. The US launch is scheduled for the end of 2006, following which the product will be launched in Europe and Asia.

“BONESUPPORT, with its innovative products, is ready to breakthrough onto markets with vast potential. Our investment in this company, alongside other prominent investors in life sciences, is consistent with our strategy of investing in first-class European medical technology companies with global ambitions and underlines our belief and high expectations from BONESUPPORT”, says Aris Constantinides partner at NBGI Ventures.

In connection with the new share issue Dr. Björn Odlander, partner/founder of HealthCap and Aris Constantinides, a partner at NBGI Ventures will become members of BONESUPPORT’s board of directors.

For further information, please contact:
Fredrik Lindberg, CEO BoneSupport
Tel. +46 (0)46 286 53 79 or +46 (0)708 86 53 70

For press images, please refer to www.bonesupport.com

Facts about BoneSupport’s products
The main product CERAMENT™|SPINE SUPPORT, which is expected to be approved in Europe next year, is a product for treating fractured vertebrae as a result of brittle bones. The product has many advantages, for both surgeon and patient, i.e. that it’s easy to use and can be applied quickly and safely under local anaesthetic. CERAMENT™ bone substitute penetrates and strengthens the patients’ own bones while allowing new bone growth. CERAMENT™|BONE VOID FILLER is now being launched on the US market, initially in the spine segment, but will eventually be used in other orthopaedic areas. The product has received a very positive response after being introduced at a number of international congresses and negotiations with potential partners are underway.

Facts about Healthcap and NBGI Venture
HealthCap is a family of multi stage venture capital funds, investing internationally in life sciences, with the Odlander Fredrikson Group as their exclusive investment advisor. With committed capital exceeding SEK 7 bn HealthCap is the largest specialized provider of venture capital within life sciences in the Nordic countries and one of the largest independent actors in the sector in Europe. The funds have made initial investments in 80 companies and have successfully taken 21 companies public o


Publisher Contact Information:

BoneSupport AB
+46462865370
info@bonesupport.com

Company profile of BoneSupport AB
Past press releases of BoneSupport AB.

Data


27,722
Tech investments
From our Online Data Service
17,881
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Dec 21€50.0MKnowledge management
Dec 20€16.0MSemiconductors
Dec 17€18.0MOther Computers & Electronics
Dec 17€5.2MBiotechnology
Dec 17€17.0MBusiness applications
Dec 15€17.0ME-Commerce
Dec 4€3.3MNanotechnology

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


Sep 30
TetaVi
tetavi raises $6 million to help more companies bring 3d holograms ...

May 28
Identiq
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
Nethone
nethone raised over $1 million from innovation nest

Mar 31
CompPair
the fit allocates chf 100'000 to comppair technologies

Jan 29
Yumpingo
yumpingo raises $10m to transform guest experiences in restaurants





About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.