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BONESUPPORT raising in total 170 MSEK ($ 26 mill, ? 18 mill)

The Swedish MedTech company BoneSupport is implementing a follow-up share issue with the Danish investment fund Lundbeckfond Ventures. Together with the share issue in June this year, the company has raised totally 170 MSEK during 2011. The company markets CERAMENT T, an injectable biologic that remodels into bone and heals fractures. The raised capital will secure a successful commercialization of the company’s product portfolio and further development of a product line for treatment and prophylaxis of orthopedic infections.

Bonesupport’s material, CERAMENT T, is non-toxic and tissue-friendly, in contrast to the heat-generating plexiglass-based material often used today. It has the same hardness as cancellous bone and has been shown to produce significantly fewer fractures in adjacent vertebrae while promoting fracture healing. Ongoing product development includes prophylaxis of hip fractures and combination with antibiotics for prophylaxis or treatment of orthopedic infections.

The potential for Bonesupport’s material is large and growing as more people face age-related disorders such as osteoporosis,” says Johan Kördel, at Lundbeckfond Ventures.

Based in Lund, Bonesupport was founded in 1999 by the internationally renowned professor Lars Lidgren. At that point he had been working for many years in collaboration with researchers at Lund University to develop a flowable biologic promoting bone remodelling and with high radiovisibility to allow mini-invasive surgery.

“We are very pleased to have added Lundbeckfond Ventures as an investor,” says Bonesupport CEO Fredrik Lindberg. “Together with the existing shareholders, Industrifonden and HealthCap, we now have three financially strong, knowledgeable investors that can help us to shift our expansion into higher gear.”

For additional information, feel free to call:
Fredrik Lindberg, President, Tel. +46 708 86 53 70
Johan Kördel, Senior Investment Director, Lundbeckfond Ventures, Tel. +45 3912 8000

Press photos are available at www.bonesupport.com

BONESUPPORT
BONESUPPORTAB is an innovative Swedish medical technology company that specializes in the development of high-tech solutions for the treatment of vertebral compression fractures and other osteoporotic fractures. Founded in 1999, the company has over 30 employees and is headquartered at Ideon Science Park in Lund, Sweden. BONESUPPORT has subsidiaries in the United States, Netherlands and Germany. Its key trademark is CERAMENTT.

About Lundbeckfond Ventures
Lundbeckfond Ventures is an open and evergreen life science venture fund investing in companies primarily in Europe, but selectively also in the US. It invests in late stage drug discovery and development, as well as in medtech and diagnostics. Lundbeckfond Ventures is part of the asset management subsidiary of the Lundbeck Foundation which has majority ownerships in H. Lundbeck A/S and ALK-Abelló A/S.”

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