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| Injecting Cerament G--Courtesy of BoneSupport |
Swedish startup BoneSupport has raised $14 million to back the drug-eluting aspects of its synthetic bone substitute. Its injectable, antibiotic-eluting product Cerament G was CE marked in 2013 and is the first such product indicated to promote and protect healing in patients with bone infections.
BoneSupport's original product is known as Cerament, which is a synthetic, bioceramic, and injectable bone substitute made of calcium sulfate and hydroxyapatite combined with liquid Iohexol. The company's most recent version, Cerament G, elutes the antibiotic gentamicin.
"The drug eluting properties of Cerament have the potential to change the standard of care in the management of bone infections and joint replacement surgery," Lloyd Diamond, CEO of BoneSupport, said in a statement. "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."
In clinical testing, Cerament demonstrated bone remodeling within 6 to 12 months. It allows for controlled resorption in the body that is intended to support bone in-growth. The synthetic bone substitute is injected under local anesthesia. It's designed to mimic the properties of cancellous bone, also known as spongy bone, which is a type of tissue found at the end of long bones, in pelvic bones, ribs, skull and spinal vertebrae. It's very porous and it typically weaker than cortical bone, which makes up the shaft of long bones.
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| BoneSupport CEO Lloyd Diamond |
In September, the startup presented European data for Cerament G data showing that after 6 months, 75% of osteomyelitis (or bone infection) patients demonstrated complete wound healing and full bone remodeling. And 80% of the remaining patients showed evidence of ongoing remodeling.
Most cases of osteomyelitis are due to staphylococcus bacteria that are commonly on the skin's surface, according to the Mayo Clinic. The infection can be introduced into the bone via the bloodstream, an open wound or when bone punctures the surface of the skin. Prosthetic infections, diabetic foot ulcers as well as injury or trauma can be involved in the establishment of bone infections.
"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," BoneSupport Executive Chairman Dr. Oern Stuge said in a statement. The latest investment "represents a significant vote of confidence in the Cerement platform by our new as well as by our long-terms investors," he added.
Late last year, the startup partnered with Australian stem cell player Orthocell to develop a collagen scaffold for a next-gen bone repair product that induces bone growth. BoneSupport is also planning to further build out its drug-eluting applications.
The latest financing was led by an undisclosed, major Scandinavian pension fund with participation from undisclosed existing investors. The company's most recent prior financing was in June 2012 when it brought in an additional $10 million to bring a previously disclosed round up to $29 million. Thirteen investors participated in that financing, with the majority coming from European investors Healthcap, Industrifonden and Lundbeckfond Ventures.
Concluded Diamond, "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."
- here is the release