Graftys, an Aix-en-Provence, France-based early stage company focused on advanced bone biologics, completed a €4m (approximately $5.3m) third round of financing.
This round was led by Ventech, with participation from existing investors Octalfa, Oreo Finances and Viveris Management.
In conjunction with the financing, Laurent Assaraf from Ventech has joined Graftys’ board of directors.
The company intends to use the funds to complete its first pilot clinical study for a combination medical device to address osteoporosis on a local basis (the Matériaux Innovants Actifs contre les Dérèglements de la Résorption OSseuse – “M.I.A.D.R.OS” – project) and to support establishment of commercial efforts in the US market for its advanced bone void filler products, which are already FDA cleared.
In 2009, Graftys opened a local office in Chicago, IL.
Created in 2005, the company currently has a team of 23 employees.