Cerapedics, a developer of biologic bone grafts, has raised $19m in Series C funding. Anglo-Swedish drugs company AstraZeneca’s corporate venturing division, MedImmune Ventures and CVF, an affiliate of Henry Crown and Company, co-led the round. They were joined by return backers healthcare-dedicated investment firm OrbiMed Advisors and healthcare venture capital investment firm NGN Capital.
In conjunction with the financing, Sam Wu, managing director of MedImmune Ventures, has joined Cerapedic’s board.
Cerapedics previously raised $15m in 2009 a Series B from NGN Capital and OrbiMed Advisors and $12.3m in a venture round in 2007.
Paul Mraz, Cerapedics’ chief executive, said: “We are gratified with the response received from the financial community given the challenging economic environment present industry-wide. It is a direct reflection of the merits of the clinically tested i-FACTOR product portfolio and the team we have put in place globally, Cerapedics is well-positioned to become a key player in the nearly $2 billion osteobiologics marketplace across spine, trauma and orthopedic reconstruction worldwide.”