SYNOSTE raised €5.1MM (~USD $5.9MM) to support clinical investigations and new application development as it pursues the third generation of patient-friendly bone lengthening and deformity correction devices.
The funding was provided by Lifeline Ventures and AO Foundation-backed AO Invest, and brings the total equity invested in SYNOSTE to €10MM. Other investors include Evonik Venture Capital; High-Tech Grunderfonds, Germany’s largest seed investor; Innovestor Ventures, with the largest portfolio of venture backed companies in Finland; and Mectalent, a partner company that provides SYNOSTE component manufacturing and precision mechanics.
Using smart materials and a controllable treatment device, the company seeks to lower complication rates and enable faster recovery to daily activity. “They have created not just a product, but a platform that will enable various intelligent solutions from traditional intramedullary nails to flat plates that can be used in the treatment of extremely painful and psychologically debilitating conditions,” commented Michel Orsinger, Chairman of AO Invest.
SYNOSTE raised €5.1MM (~USD $5.9MM) to support clinical investigations and new application development as it pursues the third generation of patient-friendly bone lengthening and deformity correction devices.
The funding was provided by Lifeline Ventures and AO Foundation-backed AO Invest, and brings the total equity invested in SYNOSTE to...
SYNOSTE raised €5.1MM (~USD $5.9MM) to support clinical investigations and new application development as it pursues the third generation of patient-friendly bone lengthening and deformity correction devices.
The funding was provided by Lifeline Ventures and AO Foundation-backed AO Invest, and brings the total equity invested in SYNOSTE to €10MM. Other investors include Evonik Venture Capital; High-Tech Grunderfonds, Germany’s largest seed investor; Innovestor Ventures, with the largest portfolio of venture backed companies in Finland; and Mectalent, a partner company that provides SYNOSTE component manufacturing and precision mechanics.
Using smart materials and a controllable treatment device, the company seeks to lower complication rates and enable faster recovery to daily activity. “They have created not just a product, but a platform that will enable various intelligent solutions from traditional intramedullary nails to flat plates that can be used in the treatment of extremely painful and psychologically debilitating conditions,” commented Michel Orsinger, Chairman of AO Invest.
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