Krems an der Donau, Austria, December 1, 2015 / B3C newswire / -- OrthoSera (formerly Lacerta Technologies), an orthobiologics company developing serum-based solutions for musculoskeletal indications has reached a major milestone by putting their first product on the market. BoneAlbumin is a serum albumin enhanced bone substitute made of fully human materials of donated bone and blood. After a series of clinical studies showed positive effects of the patented albumin coating technology, there was a strong demand among physicians to use this graft. Classification of BoneAlbumin as a ‘human tissue product’ opened the possibility for distribution through regional tissue banks.
The field of bone grafts is among the most promising markets in the orthopedic industry, generating more than 2 bn USD revenues globally and capturing an ever growing segment of the total orthobiologics market. The majority of bone substitutes are used in orthopedics and spine surgery while the dental field offers an additional opportunity with uniform dosing and self-paying customers. In order to capture this market opportunity OrthoSera launched a dental subsidiary with independent management and financing.
The Hungarian institutional investor Széchenyi Capital Investment Fund invested in OrthoSera Dental in exchange for a minority stake in the company. József Török, BizDev and Startup Director at the Fund comments: “Hungary is the leading global destination for dental tourism. Our investment enables the successful establishment of a fully human alternative to existing bone graft solutions in this segment further adding to the competitive advantage of regional dentists and implantologists.”
“Upon market entry with BoneAlbumin as our first commercial product we could convince a strong financing partner to join forces in setting up a fully-funded new entity. This is reflecting our transition to a commercial-stage company with additional exciting projects in the development pipeline. We felt that this is the perfect time to transform into OrthoSera,” stresses Dr. Zsombor Lacza, CEO of OrthoSera GmbH. “We expect to reach more significant milestones in the near future further underscoring our ambition to become a leading player in orthobiologics.”
About Széchenyi Capital Investment Fund
Széchenyi Capital Investment Fund (Széchenyi Tokebefektetési Alap/SZTA) has been set up to invest HUF 14 bn. (approx. EUR 45 mn.) into innovative Hungarian SMEs. 85% of the fund’s capital is coming from EU sources, the remaining 15% from the Hungarian government. SZTA’s investment policy is directed towards the stimulation of economic growth, the creation of new jobs, and the support of less-developed regions while ensuring maximum efficiency in the use of EU capital. Until November 2015 SZTA has invested more than HUF 10 bn. in about 75 companies.
About OrthoSera
With headquarters in Krems/Austria and subsidiaries in the US and Hungary OrthoSera GmbH is a commercial-stage regenerative medicine company. The serum-based approach to address various degenerative diseases like osteoarthritis is driving the ambition to become a game changer in the orthobiologics market. OrthoSera puts special emphasis on designing simple and affordable protocols allowing a wider patient population to benefit from their solutions. The first commercial product BoneAlbumin, an innovative albumin-coated bone allograft, is currently marketed in Europe with a special focus on dental and orthopedic indications.
