Bonesupport Completes $14 Million Funding Round

Lund, Sweden-based Bonesupport, which makes injectable bone substitutes for orthopedic trauma, bone infections and instrument augmentation related to orthopedic surgery, has closed a $14 million round of funding. The round was led by a new investment from a major Scandinavian pension fund, with additional participation from existing investors. The funds will be used to continue to grow global sales and marketing and accelerate expansion of the Cerament platform, especially as it relates to new drug delivery products and market opportunities.

“The drug eluting properties of Cerament has the potential to change the standard of care in the management of bone infections and joint replacement surgery,” said CEO Lloyd Diamond. “We are uniquely positioned to address an unmet clinical need and this additional funding will help us quickly expand our product offerings and accelerate market penetration.”

Cerament, a synthetic bone substitute clinically designed to remodel into bone within 6-12 months, is Bonesupport’s flagship offering. The global bone graft and substitutes market is valued at $2.1 billion. According to Bonesupport, Cerament is the first CE-marked injectable gentamicin antibiotic eluting bone graft substitute indicated to promote and protect bone healing in the management of osteomyelitis. Osteomyelitis (bone infection) represents a $1.7 billion market. Emerging prosthetic infections, diabetic foot ulcers, war injuries, high-energy trauma and sports injuries, combined with an increasing resistance to antibiotics; fuel the need for more effective therapeutic solutions.

“We are excited that a new cross-over investor from one of the largest Scandinavian pension funds was a major investor in this round. They have high confidence that Bonesupport’s proprietary drug eluting technology will create unprecedented new opportunities in the management of bone infections caused by disease, trauma or revision surgery,” said Diamond.

“We have a truly disruptive technology with Cerament. Our aim is to open a whole new way of delivering medicines that have the potential to transform outcomes,” said Oern R. Stuge, M.D., executive chairman of Bonesupport. “Today’s announcement represents a significant vote of confidence in the Cerament platform by our new as well as by our long-terms investors.”