GreenBone closes a €10m Series B funding round
GreenBone Ortho SpA, among the most innovative companies in the field of bone regeneration, has completed a €10m Series B funding round.
Investoes include 3B Future Health Fund, Innogest SGR, Meta Group, CDP Venture Capital Sgr, Italian Angels for Growth and other private investors. The company raised €22m equity investments since its inception in 2015 in Faenza, Italy.
Millions of people worldwide have bone repair surgery to treat bone loss resulting from trauma, cancer or bone degenerative conditions. Bone replacement use bone transplant (the best option today) or bone grafts (ceramic, polymer and metal alloys), but particularly for larger bone replacements medical professionals are grappling with the limitations of existing solutions. GreenBone researchers identify a nature inspired solution to develop a new generation bone graft designed to meet the highest standards in tissue-engineered performance.
The new funding will be intended to expand the clinical use of the product also through new developments in further indications for use such as spinal and maxillofacial surgery. The funds will also be used for the construction of a new production line and for the market launch of the approved product.
The new board of directors comprises the Chairman Claudio Giuliano (partner of Innogest SGR, previously in Carlyle Group, Bain&Co), the CEO Lorenzo Pradella (previously in Zambon SpA, Cardinal Health Ltd and Zcube srl), Roberto De Ponti (partner at 3B Future Health Fund), Francesco Granata (partner at 3B Future Health Fund, with more than 35 years’ experience in biopharmaceuticals, private equity, venture capital and board management), Francesca Natali (Fund Managing Director Meta Group, Board Member in different start-ups).
“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.