Bone Biologics, Corp., an Edison, NJ-based company that is developing a proprietary protein for use in bone regenerative medicine, completed a $2m funding round.
The backer was Hankey Capital, LLC, of Los Angeles, CA.
The company intends to use the funds to continue process development leading to the manufacturing of Nell-1 in preparation for human clinical trials to validate the technology in regenerative medicine for bone.
Led by Michael Schuler, CEO, Bone Biologics is developing a proprietary protein for use in bone regenerative medicine using the patented recombinant human protein known as UCB-1 (or Nell-1) for use with patients undergoing spinal fusion.
Nell-1 is a bone growth factor developed in partnership with University of California, Los Angeles (UCLA) and the Musculoskeletal Transplant Foundation (MTF) as a more specific alternative to other bone growth factors used in health care today. In large animal studies, it exhibited none of the side effects currently associated with other bone growth factors including ectopic bone growth, extraneous bone growth or cyst formation.
The next phase will be completing the development and testing work needed to seek regulatory approval for the initial pilot study in human clinical trials.