Locate Bio, a pioneering orthobiologics company, announced the completion of an oversubscribed £9.2 million (USD $11.5 million) funding round from both new investors and existing investors, Mercia Ventures and BGF. The proceeds will fund a clinical study of LDGraft, a bone graft substitute for spinal fusion.
This funding and the clinical trial known as RESTORE (A Randomized Study of LDGraft in Single Level Anterior Lumbar Interbody Fusion) marks a significant milestone in the company’s mission to relieve suffering and restore the quality of life for millions of patients suffering from debilitating orthopedic conditions worldwide.
Locate Bio combines decades of research in advanced drug delivery systems and utilizes a proprietary protein encapsulation method to deliver a powerful therapeutic protein called rhBMP-2. This is combined with an osteoconductive scaffold in LDGraft, which received a FDA Breakthrough Device Designation in 2023.
“This oversubscribed funding round underscores the significant investor confidence in the company’s vision and the potential of LDGraft to become the most relied-on bone graft substitute globally,” said Locate Bio CEO John von Benecke. “With the rapidly aging global population, there is an urgent need for products that address chronic, progressive, and debilitating back pain.”
Locate Bio, a pioneering orthobiologics company, announced the completion of an oversubscribed £9.2 million (USD $11.5 million) funding round from both new investors and existing investors, Mercia Ventures and BGF. The proceeds will fund a clinical study of LDGraft, a bone graft substitute for spinal fusion.
This funding and the clinical trial...
Locate Bio, a pioneering orthobiologics company, announced the completion of an oversubscribed £9.2 million (USD $11.5 million) funding round from both new investors and existing investors, Mercia Ventures and BGF. The proceeds will fund a clinical study of LDGraft, a bone graft substitute for spinal fusion.
This funding and the clinical trial known as RESTORE (A Randomized Study of LDGraft in Single Level Anterior Lumbar Interbody Fusion) marks a significant milestone in the company’s mission to relieve suffering and restore the quality of life for millions of patients suffering from debilitating orthopedic conditions worldwide.
Locate Bio combines decades of research in advanced drug delivery systems and utilizes a proprietary protein encapsulation method to deliver a powerful therapeutic protein called rhBMP-2. This is combined with an osteoconductive scaffold in LDGraft, which received a FDA Breakthrough Device Designation in 2023.
“This oversubscribed funding round underscores the significant investor confidence in the company’s vision and the potential of LDGraft to become the most relied-on bone graft substitute globally,” said Locate Bio CEO John von Benecke. “With the rapidly aging global population, there is an urgent need for products that address chronic, progressive, and debilitating back pain.”
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
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