Innogest, Invitalia in €8.4m series-A for GreenBone Ortho

Luxembourg-based investment holding Helsinn Group led the funding round with a €2m injection via its Helsinn Investment Fund. Innogest, Invitalia, Italian Angels for Growth (IAG), several Italian high-net-worth individuals and the company's founders provided the remaining capital.

The company intends to use the fresh capital to complete its product's clinical development and conduct pre-clinical development for further applications in other skeletal diseases.

Previous funding
In September 2015, the company raised a €3m seed funding round led by ZernikeMeta Ventures via Ingenium Emilia-Romagna fund, IAG and high-net-worth individuals.

Company
Founded in 2014 and headquartered in Faenza, GreenBone develops a patented wood-derived bone regenerative implant. The device focuses on severe bone damage and diseases in non-loaded and load-bearing skeletal segments such as long-bone non-union fractures, spinal damage, trauma and cancer-induced bone loss.

The pre-revenues company currently employs seven people.

People
Innogest – Pietro Puglisi (investment manager).
Invitalia Ventures – Ciro Spedaliere (investment manager).
GreenBone Ortho – Lorenzo Pradella (co-founder, CEO).

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• Topics
• Early-stage
• Healthcare
• Southern Europe
• Venture
• Italy