3i continues support for ApaTech in $45m deal

Founding investor 3i has led a $45m funding round for ApaTech Ltd, a developer and provider of synthetic bone graft technologies. HealthCor Partners invested alongside 3i.

ApaTech received its first funding of £3m in 2001 from 3i when it spun out from Queen Mary, University of London. At that time, the university also took a significant stake in the company. In 2004, MTI led a £6.5m second round of funding alongside 3i and in 2006, the company received a series-B extension of £2m from 3i, MTI and the management. In 2007, private investors supported ApaTech with £700,000 in a series-D round. Over the past seven years Noble Venture Finance has provided $7m in debt.

ApaTech is based in Elstree, London, and was founded in 2001 with the rights to bone materials research and intellectual property from Queen Mary, University of London and Cambridge University. It develops synthetic bone graft technologies and provides surgeons with proprietary bone grafts. (Page 26).

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