• Investment syndicate led by Euroventures
• Funding for additional product launch in 2016
Krems an der Donau, Austria, December 15, 2015 / B3C newswire / -- Shortly after market launch of our first product BoneAlbumin via our separately funded dental subsidiary OrthoSera has managed to successfully close the first institutional investment round led by leading Hungarian venture capital firm Euroventures. The syndicate was joined by a group of experienced Hungarian and US business angels with a strong track record in life science investing. The undisclosed investment volume will be used to fund the company’s ongoing preclinical and clinical development efforts as well as the commercialization of OrthoSera’s portfolio of serum-based technologies in regenerative medicine.
OrthoSera has established a business advisory board. First chairman is S. George Simon, an industry vereran with over 20 years of worldwide business development and licensing experience and is member of the board of several life science companies. He is joined by Florian Kemmerich supporting OrthoSera with a long-standing track record of building and leading international regenerative medicine companies. Mr. Kemmerich is the former President of Olympus Biotech International and held senior management positions at Small Bone Innovations (now Stryker) and B. Braun.
“We are delighted to welcome the new investors to OrthoSera. Together with the set-up of an experienced board of industry experts it puts us in a position to capitalize on our excellent scientific and clinical results,” stresses Björn Ehring, CFO of OrthoSera GmbH. “With this funding we will have the means to speed up market entry of our autologous serum isolator device in 2016 further underscoring OrthoSera’s ability to develop innovative orthobiologics from bench to bedside.”
About Euroventures
Euroventures is one of the longest-established and leading independent private equity and venture capital firms in Central Europe. The team has advised/is advising four investment programmes since 1989. Euroventures’ nearly 40 current and former portfolio companies illustrate the commitment to provide steady support through the cycles of the regional economy. The most current Euroventures IV Venture Capital Fund, with a volume of HUF 7.1 billion started its activity in 2010.
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.
