Industrifonden in $14m round for Bonesupport

The round was led by an unnamed Scandinavian pension fund, which was joined by existing investors Innovationskapital, Teknoinvest, Vencorp Partners, HealthCap Private Equity, NBGI, Ferd Venture, Lundbeckfond Ventures and Industrifonden.

Bonesupport has now raised in excess of $80m over six funding rounds since 2003, according to unquote" data.

The fresh capital will be used to grow Bonesupport's global sales and marketing, as well as accelerate expansion of the company's Cerament synthetic bone substitute platform.

Previous funding
Bonesupport has raised capital on five previous occasions before its latest funding round. The business first received fresh equity in May 2003, when Herkules Capital, Innovationskapital, Teknoinvest and Vencorp Partners injected SEK 45m.

A further SEK 135m was invested in December 2006, with HealthCap and NBGI joining the investor group as Herkules exited.

Ferd invested alongside the existing backers two years later, contributing around SEK 10m in a SEK 122m round.

Bonesupport received further investments of SEK 101m and SEK 70m in June 2011 and June 2012, respectively, with Industrifonden and Lundbeckfond joining the shareholders base.

Company
Based in Lund, south of Sweden, Bonesupport is a developer and producer of injectable bone graft substitutes.

Its main product is Cerament, an injectable synthetic bone substitute that can be used in the treatment of fragility and fractures caused by disease and trauma, including osteomyelitis.

The company was founded in 1999 and has offices in the US and Germany.

People
Lloyd Diamond is the CEO of Bonesupport.

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• Topics
• Nordics
• Expansion
• Healthcare
• Sweden
• Industrifonden