Sweden-based bioceramic bone scaffold developer Bonesupport secured $37m in debt and equity financing from backers including Lundbeckfond Ventures, the strategic investment arm of pharmaceutical group Lundbeck, today.
Tellacq led the equity portion of the round, which also featured Swedish national pension fund AP3, HealthCap, Industrifonden and private investor Carl Westin. Kreos Capital supplied the debt financing.
Founded in 1999, Bonesupport has created a range of injectable osteoconductive bioceramic products called Cerament which heals fractures and defects in bones caused by injury, disease or related surgery within a six-to-12 month period.
The capital will go to increasing sales of Cerament, which is available in the US, Europe, Southeast Asia and the Middle East, generating more clinical data on the products and developing additional Cerament products.
Bonesupport had raised approximately $73m in financing prior to the latest round, including $14m in an April 2015 round led by an undisclosed Scandinavian pension fund likely to be AP3.
Lundbeckfond Ventures, Industrifonden, HealthCap, Teknoinvest, Vencorp Partners, NBGI Ventures, Ferd Venture and Innovations Kapita had supplied its earlier funding.
– Image courtesy of Bonesupport AB