UPPSALA, Sweden--(Marketwired - November 04, 2015) - OssDsign AB today announced that it has successfully raised SEK 93 million (EUR 9.6 million) in a new equity financing. The financing is led by the new investors SEB Venture Capital and Fouriertransform with continued investment from Karolinska Development. The proceeds will be used for the market expansion of OssDsign's product line of unique craniofacial implants based on an innovative material technology with excellent biological and biomechanical properties.
With funds secured, the company now moves forward with its strategy to become the global leader in market segments addressing bone defects and deficits that today lack effective treatment. The company's first products, Craniomosaic for cranioplasty and Sculpter for facial reconstruction have been successfully launched in Germany, the United Kingdom and the Nordic countries and further expansion in Europe is scheduled for 2016. The key feature of OssDsign products making them different from competitors is its bioactivity, which leads to better healing and a reduction in complication rates. OssDsign is working with regulatory authorities to expand access for its products in new key markets, with clearance expected in the US in 2016.
Anders Lundqvist, CEO, OssDsign:
"We today have more than 150 patients treated with OssDsign products in cranial and facial repair, many have been difficult patients on whom competitive techniques have been tried and failed. Our success rate is very high, giving patients improvements in quality of life and hospitals reductions in therapy costs for these costly patient categories. This financing round allows OssDsign to effectively pursue our 2016-2020 plan and we are delighted that our new and existing investors share our vision."
Filip Pettersson, Investment Manager, SEB:
"OssDsign is a pioneer orphan medtech, addressing difficult and uncommon conditions not effectively treated today. The orphan concept is common in the pharma industry but until now absent in medtech making OssDsign a very attractive investment for us. Innovations in design, material and processing techniques allow OssDsign to pursue the orphan medtech approach with advantages such as a high concentration of target customers in fewer hospitals and a faster spread of new innovations globally."
Per Aniansson, Investment Director, Fouriertransform:
"OssDsign is an excellent example of a Swedish company with core competence in medtech and an exciting outlook for international expansion. OssDsign is well in line with Fouriertransform's strategy to invest in world class manufacturing technologies with a high potential for global company exports."
Jim Van Heusden, CEO, Karolinska Development:
"This financing of OssDsign is an important example of our core strategy to pro-actively syndicate our investments with recognized specialist investors such as SEB Venture Capital and Fouriertransform. Both of our new co-investors in OssDsign have an excellent track record of making successful investments within this sector and we are very pleased to have them on board. With these new funds, OssDsign will be able to deliver a number of key commercial and developmental value inflection milestones with their innovative implant product line."
About OssDsign AB
OssDsign is a Swedish medtech company dedicated to creating regenerative implants for improved healing of bone defects and deficits in skull, facial and other types of surgery. OssDsign has marketing authorization for sales of patient specific implants in Europe with very positive results in patients treated so far. OssDsign has launched Craniomosaic and Sculpter, its first products, in Germany, the UK and the Nordic countries and are currently pursuing regulatory clearance in new markets, notably the US. By combining latest clinical insights and implant designs with its proprietary technology, OssDsign supplies an expanding range of tailored solutions for cranial repair and facial bone reconstruction. OssDsign's technology is the result of collaboration between clinical researchers at the Karolinska University Hospital, Stockholm, and material science experts at the Ångström Laboratory at Uppsala University. For more information: www.ossdsign.com.
About SEB Venture Capital
SEB Venture Capital is an evergreen fund investing in high-tech Life Science and Technology companies with skilled entrepreneurs and global ambitions. Since SEB Venture Capital was founded in 1995, we have invested over SEK 3bn in more than 105 companies. So far, 75 companies have been divested with top-tier returns. Over the past 20 years working with venture capital, we have developed a best-in-class network of industrialists, advisors, industry experts and market analysts in the Nordic region and internationally. More information at: www.sebgroup.com.
About Fouriertransform
Fouriertransform is a state-owned venture capital company tasked with supporting, on a commercial basis, innovative companies and entrepreneurs who can help revitalize the Swedish manufacturing industry. The company has a total investment framework of SEK 3 billion and, in addition to capital, provides expertise through its highly qualified employees and a network of experts. For more information, please visit www.fouriertransform.se.
About Karolinska Development AB
Karolinska Development AB is an investment company focused on identifying medical innovation and investing in the creation and growth of companies developing these assets into differentiated products that will make a difference to patients' lives and provide an attractive return on investment. Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success. Karolinska Development has established a portfolio of 12 companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases. The Company is led by a team including investment professionals with strong venture capital backgrounds, experienced company builders and entrepreneurs, with access to a strong global network. For more information, please visit www.karolinskadevelopment.com.
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Link: OssDsign Raises SEK 93 Million (EUR 9.6 Million) for Commercial Expansion