BELGRADE, Mont., Feb. 12 /PRNewswire/ -- Bacterin International, Inc. (Bacterin), a developer of biological scaffolds for orthopedic indications, today announced the completion of a $3 million private placement of Secured Convertible Promissory Notes led by Middlebury Securities, LLC.
Commenting on the successful capital raise, Guy Cook, Bacterin’s founder and CEO, said, “We are very pleased with the investor reception of our business model. Over the last nine years, Bacterin’s team of highly experienced professionals have worked diligently developing and perfecting its technology and creating a facility that would position the company to effectively market and deliver innovative products to the orthopedics industry. Our OsteoSponge(R) product, made from demineralized cancellous bone and optimized to preserve bone morphogenetic proteins, provides surgeons with an osteoinductive scaffold that is highly economical with superior handling and wicking properties.”
About Bacterin International
Bacterin International, Inc. designs, tests and licenses bioactive coatings for medical applications. The Company incorporates a variety of classes of active agents into coatings: antimicrobial, analgesic, anti-thrombotic, anti-inflammatory, and other drugs suitable for medical applications. Bacterin also produces and markets innovative biologic alografts for transplantation. The Company’s products, OsteoSponge(R), OsteoSpongeSC(R) and OsteoWrap(TM), are made from demineralized bone that is malleable and flexible, which enables more efficient and precise handling. It also markets OsteoLock(R), used in spine surgery, minimizes graft back-out, and increases osteoinductivity. Headquartered in Belgrade, Montana, Bacterin operates a 32,000 sq. ft., state-of-the-art, full compliant and FDA registered facility, equipped with five Class 100 clean rooms.
CONTACT: Guy Cook of Bacterin International, Inc., +1-406-388-0480,
gcook@bacterin.com
Web site: http://www.bacterin.com/
