Locate Bio, a Nottingham, UK-based orthobiologics company, raised £9.2M in funding.
The round was led by Mercia Ventures and BGF.
The company intends to use the funds to further enhance its clinical study of LDGraft, a bone graft substitute for spinal fusion.
Led by CEO Locate Bio Locate Bio is an orthobiologics company committed to advancing medical innovation and transforming patient care. It combines research in advanced drug delivery systems and uses a proprietary protein encapsulation method to deliver a therapeutic protein called rhBMP-2. This is combined with an osteoconductive scaffold in LDGraft, which received a US Food and Drug Administration (FDA) breakthrough device designation in 2023.
Commenting on the news, CEO John von Benecke, said: “This oversubscribed funding round underscores the significant investor confidence in the company’s vision and the potential of LDGraft to become the most relied-on bone graft substitute globally.”
FinSMEs
29/04/2024