MVM leads €10m round for Onbone
MVM Life Science Partners has led a £10m funding round for Onbone, a Finnish developer of material for medical casts and splints.
Finnish Industry Investment and existing Finnish investor Inveni Capital also participated in the round alongside private Finnish investors.
The fresh capital will be used to bring Onbone's Woodcast range of casting and splinting products to the international market.
Stuart Ashman, the former president of Andover Medical, will join Onbone as CEO following the financing round.
Company
Founded in 2008, Helsinki-based Onbone develops and produces a wood composite called Woodcast for splinting and casting applications.
Woodcast is manufactured from wood and biodegradable plastic, which means it is mouldable and remouldable.
People
Bali Muralidhar is a partner at MVM and Heli Ahlroos is an investment director at Finnish Industry Investment. Stuart Ashman is the CEO of Onbone.
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