Venture capital investors in bone disease treatment company Bone Therapeutics have returned to fund a €7.7m Series D round for the business.
Nausicaa Ventures, BAMS Angels Fund I and Life Science Research Partners contributed €6.1m to the total, with the remainder comprising grant subsidies from the Walloon region of Belgium.
Bone said it plans to use the funding to accelerate its bone cell therapy platform, especially clinical development of its PREOB product.
Chris Buyse, a Bone Therapeutics director representing Life Science Research Partners, said, “By participating in this new round we wanted to demonstrate our belief in Bone Therapeutics and its senior management team.
“The major therapeutic advances of the company’s broad, late-stage pipeline, as well as its potential and competitiveness in the field of regenerative medicine were key elements in our continued support of the company.”
In December last year US medical device company Cerapedics completed a $19m Series C round led by corporate venture capital group MedImmune Ventures and CVF, an affiliate of Henry Crown and Company.
Proceeds were earmarked for supporting the company’s ongoing US clinical trial studying its enhanced bone graft for cervical spine applications, and preparation for commercialisation following approval from the FDA.
Existing investors including OrbiMed Advisors and NGN Capital also participated.
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