The University of Aberdeen bone grafting spinout has been acquired after raising more than $4.8m from investors including Armourers and Brasiers.
Sirakoss, a UK-based bone grafting technology spinout of University of Aberdeen, has been purchased by restorative implant supplier OssDsign.
OssDsign has paid $11m in cash up front but could add more in milestone payments and royalties.
Founded in 2010, Sirakoss has developed a synthetic material called Osteo3 ZP Putty for bone grafting surgery. It has been granted regulatory approval in the US, where OssDsign hopes to expand following the acquisition.
Sirakoss raised $4.8m in a 2014 series A round led by venture firm Epidarex Capital that included Scottish Investment Bank, part of state-owned enterprise development board Scottish Enterprise.
Armourers and Brasiers, a traditional guild based in the City of London, also took part in the 2014 round, alongside undisclosed additional investors. Epidarex Capital said it had also led Sirakoss’s subsequent funding rounds but did not provide further details of that investment.
