PR Newswire01.27.22
SetBone Medical Ltd. is $1.6 million richer, thanks to an oversubscribed investment round from various supporters.
"This financing, completed with deeply experienced spine and orthopedics investors, allows us to advance our development program toward FDA clearance to provide a superior solution to those suffering from vertebral compression fractures," SetBone CEO Nimrod Kaufmann said.
Investors in this most recent funding round include The Trendlines Group; Agriline, a trust of which Vincent Tchenguiz is a discretionary beneficiary; Chicago ArchAngels; and other private investors. SetBone will use the funds to develop and initiate a first-in-human pilot study.
SetBone Medical's patent-pending bone cement is designed for use in a various orthopedic and spine procedures. Its first product indication will be for the treatment of vertebral compression fractures (VCF), primarily caused by osteoporosis, which leads to approximately 1.4 million fractures each year, of which more than 750,000 occur in the United States. SetBone Medical's bone cement provides safer and more efficient treatment, as it does not contain any toxic monomers. It comes in a ready-to-use, prefilled cartridge for use "right out of the box." SetBone's cement allows extended working time, and its low exothermic reaction keeps cement curing temperature low preventing damage to surrounding tissue.
Douglas Beall, M.D., a SetBone advisor and specialist in treating VCFs with several published research papers and book chapters on the topic, stated, "This new material is promising and addresses many gaps we have today with current technologies, I look forward to seeing its availability for clinical use."
Bone cements are widely used for various orthopedic and spine applications, including the support of fractured bones, and anchoring of artificial joints. Current bone cements require on-site preparation which involves release of toxic monomers and have handling limitations, which include inconsistent cement viscosity and a short working time. In addition, the curing of current bone cements in the human body generates high temperatures (exothermic reaction) that may damage surrounding tissue. The global bone cement market is projected to reach $1.4 billion by 2028.
"SetBone brings a novel solution to answer a huge market need, and we are highly encouraged by the interest we have received from the medical device community validating this need. We look forward to SetBone going to market," Trendlines Investments Israel CEO, Barak Singer said.
SetBone Medical is a Trendlines Group portfolio company based in Israel founded by Nimrod Kaufmann and Royi Kaufmann, Ph.D. SetBone is focused on developing and commercializing novel cements that overcome the limitations of current cements and provide physicians with a safer and more efficient work environment, disrupting a $1 billion-plus market.
"This financing, completed with deeply experienced spine and orthopedics investors, allows us to advance our development program toward FDA clearance to provide a superior solution to those suffering from vertebral compression fractures," SetBone CEO Nimrod Kaufmann said.
Investors in this most recent funding round include The Trendlines Group; Agriline, a trust of which Vincent Tchenguiz is a discretionary beneficiary; Chicago ArchAngels; and other private investors. SetBone will use the funds to develop and initiate a first-in-human pilot study.
SetBone Medical's patent-pending bone cement is designed for use in a various orthopedic and spine procedures. Its first product indication will be for the treatment of vertebral compression fractures (VCF), primarily caused by osteoporosis, which leads to approximately 1.4 million fractures each year, of which more than 750,000 occur in the United States. SetBone Medical's bone cement provides safer and more efficient treatment, as it does not contain any toxic monomers. It comes in a ready-to-use, prefilled cartridge for use "right out of the box." SetBone's cement allows extended working time, and its low exothermic reaction keeps cement curing temperature low preventing damage to surrounding tissue.
Douglas Beall, M.D., a SetBone advisor and specialist in treating VCFs with several published research papers and book chapters on the topic, stated, "This new material is promising and addresses many gaps we have today with current technologies, I look forward to seeing its availability for clinical use."
Bone cements are widely used for various orthopedic and spine applications, including the support of fractured bones, and anchoring of artificial joints. Current bone cements require on-site preparation which involves release of toxic monomers and have handling limitations, which include inconsistent cement viscosity and a short working time. In addition, the curing of current bone cements in the human body generates high temperatures (exothermic reaction) that may damage surrounding tissue. The global bone cement market is projected to reach $1.4 billion by 2028.
"SetBone brings a novel solution to answer a huge market need, and we are highly encouraged by the interest we have received from the medical device community validating this need. We look forward to SetBone going to market," Trendlines Investments Israel CEO, Barak Singer said.
SetBone Medical is a Trendlines Group portfolio company based in Israel founded by Nimrod Kaufmann and Royi Kaufmann, Ph.D. SetBone is focused on developing and commercializing novel cements that overcome the limitations of current cements and provide physicians with a safer and more efficient work environment, disrupting a $1 billion-plus market.