GreenBone Ortho completed a €10 million (USD ~$11.9 million) Series B investment round, bringing the total raised to €22 million (~$26.3 million) since 2015.
GreenBone specializes in bone regeneration using a proprietary 3D scaffold made of natural wood-derived materials. Its highly porous graft has an optimal biomaterial surface area of resorbable nano-crystalline hydroxyapatite and beta-tricalcium phosphate plus magnesium and strontium ions to mimic natural bone chemistry, morphology and 3D architecture.
GreenBone has shown the ability to actively drive a de novo bone mineralization response at ectopic site. Two ongoing international clinical studies are investigating the treatment of large bone defects.
GreenBone's product was approved under the CE Mark in 2019 for a portfolio of solutions to serve a variety of orthopedic applications including large segmental bone defects.
The new funding will support expanded clinical use of the product through new developments in further indications for use such as spinal and maxillofacial surgery. The funds will also help build a new production line, and market launch of the approved product.
“Thanks to this additional financing and the precious support of our investors, we now have the opportunity to complete the development of our product also towards further indications for use. This will allow us to accelerate production improvement and market entry of our innovative 3D regenerative scaffold. Our objective is to bring a significant improvement in the quality of life to patients suffering from severe damage to the skeletal system," said Lorenzo Pradella, CEO.