Sirakoss, an Edinburgh and Aberdeen, UK-based medical device company, secured $4.8m in Series A financing.
The round was led by Epidarex Capital, with participation from the Scottish Investment Bank and the Worshipful Company of Armourers & Brasiersplus existing shareholders. This equity investment also secures a further $1.5m Biomedical Catalyst award from Innovate UK, which was previously awarded to the company in a competitive funding program and subject to matching investment.
This investment will enable the company to complete product development and to implement its regulatory strategy for both the European and US markets.
Incorporated in 2010 and led by Brian Butchart, CEO, Sirakoss has developed synthetic bone graft substitutes for the treatment of bone defects and fusions. Its MaxSiTM Graft range of products is entirely synthetic, containing no animal or human tissue and can be manufactured in high quality batches. Synthetic bone grafts are used in trauma, spinal and dental surgery to fuse bones together to correct congenital or degenerative conditions (such as curvature of the spine) or following a traumatic injury where the bone fails to heal.