Regenerative craniofacial implant manufacturer OssDsign has amassed $19.7m altogether as it prepares to take its products based on Karolinska and Uppsala university research into new markets.
OssDsign, a Sweden-based developer of regenerative implants founded on research from Karolinska University Hospital and Uppsala University, closed a SKr64m ($6.9m) private placement on Tuesday backed by investment manager Alto Invest.
The round also featured unnamed Swedish private investors.
Founded in 2011 as Oss-Q, OssDsign designs and manufactures healing implants for bone defects made from titanium and a calcium phosphate material that has regenerative properties.
Each OssDsign implant is custom-built for the individual patient through 3D printing and computer-assisted design technologies. The company’s products currently include implants for cranial and facial defects in the skull.
OssDsign plans to list on the Nasdaq First North stock exchange later in 2019 and will use capital from the private placement to enter new markets including Japan, where it will complete regulatory and pre-marketing activities.
Karolinska Institute investment arm Karolinska Development currently owns a 25% fully-diluted stake in OssDsign, which last raised $10.8m in a 2015 round featuring Karolinska Development that was co-led by SEB Venture Capital, the corporate venturing arm of financial services provider SEB.
SEB co-led the round alongside Fouriertransform, a subsidiary of Swedish government-owned VC firm Saminvest, after OssDsign had obtained $2m in a round backed by Karolinska Development and its KCIF Co-Investment Fund, according to the Wall Street Journal.
– Feature image courtesy of OssDsign
