Orthogem, a Nottingham, UK-based developer of a family of synthetic bone graft products and application devices, has received a “significant” venture capital financing.
Investors include Midven, New Wave Ventures and existing shareholders including Oxford Technology Management.
The company intends to use the funds to gain regulatory clearance for pre-packed delivery devices in Europe and the US and for the manufacture and approval of its flagship product, TriporeTM Matrix, a malleable bonded version which can be pre-shaped and seeded with stem cells, prior to implantation, which will be released later in the year.
Orthogem is based on its Tripore TM technology, which is used in spinal fusion operations to facilitate fusion of vertebrae.
Founded in 2001 by Dr Wei-Jen Lo, a biomaterials scientist with a background in clinical ceramics, the company will move its sales and administrative headquarters to Leek Wootton in Warwickshire, while continuing manufacturing at Biocity in Nottingham.
Orthogem also announced that Paul Markgraf has joined the company as CEO.