Bone Biologics, Inc., a Thousand Oaks, CA-based convergence biotechnology company focused in the orthobiologics space, received an undisclosed round of investment from the Musculoskeletal Transplant Foundation (MTF).
MTF, which now owns 51% of the company, also provided a line of credit to fund continuing operations that have allowed Bone Biologics to progress from research through development of UCB-1TM.
It is a proprietary skeletal specific growth factor which only targets cells that exhibit an activated master switch to develop into bone or cartilage.
The platform technology has application in delivering improved outcomes in the surgical specialties of spinal, orthopedic, general orthopedic, plastic reconstruction, neurosurgery, interventional radiology, and sports medicine.
The platform technology will be subject to the FDA review and approval process, including clinical trials. It is not currently approved for use in humans.
Additionally, Mark Spilker, PhD, MTF’s Vice President, Research & Development, has been elected to the Bone Biologics’ board of directors.