Small Bone Innovations, Inc., an orthopedic company focused on technologies and treatments for the small bones and joints, has received a $12m Series E Preferred Stock investment from Olympus Corporation, Tokyo, Japan.
In a related transaction, SBi Asia Pacific Sdn. Bhd. has signed distribution agreements with Olympus Terumo Biomaterials Corporation (which is 66.6% owned by Olympus and 33.4% owned by Terumo Corporation) whereby they will exclusively distribute SBi products in Japan and China.
As stated by Anthony G. Viscogliosi, Chairman & CEO of SBi, this investment will accelerate the worldwide rollout of SBi’s S.T.A.R.® total ankle replacement system by providing capital for inventory and expanding surgeon education and training.
“It will also support new and expanded product offerings for both the upper and lower limb anatomies and related clinical studies. This investment further enhances the implementation of our global business strategy”, Viscolgiosi added.
In addition and separately, SBi APAC, a joint venture with Khazanah Nasional Berhad and Malaysian Technology Development Corporation Sdn. Bhd., signed agreements with Olympus Terumo Biomaterials Corporation for the exclusive distribution of SBi products in Japan and China.
SBi operates facilities in New York, NY, Morrisville, PA, Bourg-en-Bresse, France, Donaueschingen, Germany, and Kuala Lumpur, Malaysia and distributes its products and technologies globally in more than 50 countries.
In mid 2009, the company closed on $144m in Series C and Series D funding from a host of investors including, Goldman, Sachs & Co., Khazanah Nasional Berhad, (the investment firm of the Government of Malaysia), Malaysian Technology Development Corporation (MTDC), an integrated Malaysian-based venture capital company, The Family Office of Bahrain, Viscogliosi Brothers, LLC, Trevi Health Ventures, NGN Capital, 3i Group, and TGap Ventures, among others.