BONESUPPORT raises $37 million to deliver further value from CERAMENT platform
BONESUPPORT raises $37 million (SEK 327 million) in a financing round led by Tellacq AB, with participation from current major shareholders, including Industrifonden, HealthCap, Lundbeckfond Ventures, AP3 (The Third Swedish National Pension Fund) and Carl Westin.
BONESUPPORT is an emerging leader in innovative injectable bioceramic bone scaffolds to treat bone voids caused by trauma, infection, disease or related surgery. The new funds will be used to deliver further value from its unique CERAMENT platform.
Richard Davies, CEO of BONESUPPORT said, “I am delighted that we have been able to complete this new financing to help us to execute our strategy to deliver the significant potential of our unique CERAMENT drug eluting osteoconductive/osteoinductive bioceramic platform. I am also pleased that the equity element reflects the significant progress that we have made during the course of 2016. With our sales on a strong growth trajectory, an increasing body of compelling clinical data and a drug eluting platform that will allow us to develop a pipeline of novel products to treat a broad range of bone diseases, BONESUPPORT can look to the future with great confidence.”
The funding round consisted of a combination of equity and debt finance, and the debt finance was provided by Kreos Capital.