Cerapedics, Inc., a Westminster, CO-based orthobiologics company engaged in the development and commercialization of bone graft substitute products for the treatment of orthopedic injuries, received a $20m senior secured term loan.
Oxford Finance provided the financing.
Led by Glen Kashuba, chief executive officer, Cerapedics Cerapedics is focused on developing and commercializing proprietary synthetic small peptide (P-15) technology platform. i-FACTOR Peptide Enhanced Bone Graft is a biologic bone graft that incorporates a small peptide as an attachment factor to stimulate the natural bone healing process. This mechanism of action is designed to support safer and more predictable bone formation compared to commercially available bone growth factors. The product is FDA-approved product for Anterior Cervical Discectomy and Fusion (ACDF).
The company will use the loan proceeds for the ongoing commercialization of i-FACTOR’s use in cervical spine procedures and fund a FDA study on its application in Transforaminal Lumbar Interbody Fusion (TLIF.)