BONESUPPORT AB announces, that Dr. Håkan Björklund has been confirmed as Chairman and that Ms. Tone Kvåle has been elected as a new Board Member. The appointments were made at an EGM held on 15 December 2016.
Dr. Björklund is Partner of Tellacq AB, a private investment firm. He joined the BONESUPPORT Board in September 2016 in conjunction with the Company’s $37 million (SEK 315 million) financing, which was led by Tellacq. Dr. Björklund has a long and successful track record in the healthcare industry, including as the former CEO of Nycomed, which he grew from a small Scandinavian company into a global business before its acquisition by Takeda in 2011. He is currently chairman of the board of Swedish Orphan Biovitrum AB and an Industry Executive at Avista Capital Partners.
Tone Kvåle joins as a Board Member and Head of the Audit Committee. She is currently Chief Financial Officer of Nordic Nanovector, an Oslo-listed biopharmaceutical company, and has more than 20 years’ biotech industry experience. Prior to joining Nordic Nanovector, she was CFO of NorDiag, Kavli Holding and Dynal Biotech, and has held senior management positions at Invitrogen, Life Technologies and ThermoFisher (US). Ms. Kvåle has a diploma in Finance & Administration from Harstad University College.
Richard Davies, CEO of BONESUPPORT, said: “I am extremely happy that Håkan has been elected Chairman and that Tone will be joining the Board. This is an exciting period for BONESUPPORT following our recent $37 million (SEK 315 million) financing. We are now focused on building further additional shareholder value by growing sales of our current CERAMENT products, generating further data highlighting the clinical and health economic benefits these products deliver and progressing our pipeline. I am confident that Håkan’s and Tone’s experience will be valuable in helping us achieve our strategic goals.”
Dr. Björklund said: “I look forward to working with the management team and the Board to deliver BONESUPPORT’s potential to become a global leader in the management and treatment of bone disease based on the unique properties of its CERAMENT platform.”
BONESUPPORT AB announces that it has raised $37 million (SEK 327 million) in a combination of equity and debt finance. These new funds will be used to deliver further value from its unique CERAMENT platform. The oversubscribed equity financing was led by Tellacq AB and was supported by the Company's current major shareholders, including HealthCap, Lundbeckfond Ventures, Industrifonden, AP3 (The Third Swedish National Pension Fund) and Carl Westin.
Dr. Håkan Björklund of Tellacq AB will be joining the BONESUPPORT Board as Chairman in conjunction with the fund raising, subject to shareholder approval. Dr. Björklund has a long and successful track record in the healthcare industry, including as the former CEO of Nycomed, which he grew from a small Scandinavian company into a global business before its acquisition by Takeda in 2011. He is currently chairman of the board of Swedish Orphan Biovitrum AB and an Industry Executive at Avista Capital Partners.
Richard Davies, CEO of BONESUPPORT said, "I am delighted that we have been able to complete this new financing to help us to execute our strategy to deliver the significant potential of our unique CERAMENT drug eluting osteoconductive/osteoinductive bioceramic platform. I am also pleased that the equity element reflects the significant progress that we have made during the course of 2016. With our sales on a strong growth trajectory, an increasing body of compelling clinical data and a drug eluting platform that will allow us to develop a pipeline of novel products to treat a broad range of bone diseases, BONESUPPORT can look to the future with great confidence. »
"We are delighted to welcome Håkan Björklund to the board at this exciting time for the company and look forward to benefiting from his extensive experience in the years ahead. I would also like to take this opportunity to thank the departing chairman Dr. Örn Stuge for his significant contribution to BONESUPPORT over many years" says Björn Odlander, Managing Partner at HealthCap and board member.
Håkan Björklund, said: "Our decision to invest in BONESUPPORT was driven by the important progress that has been made over recent years. The CERAMENT drug eluting platform offers multiple opportunities to generate significant value by providing much needed and cost-efficient treatment options for patients with a broad range of bone diseases. I look forward to working with the management team and the Board to deliver BONESUPPORT's potential to become a global leader in the management and treatment of bone disease."
BONESUPPORT™ ANNOUNCES APPOINTMENT OF LIFE SCIENCES INDUSTRY VETERAN, RICHARD DAVIES, AS NEW CHIEF EXECUTIVE OFFICER
Mr. Davies Brings over 25 Years of Life Sciences Industry Experience to BONESUPPORT™
Current Chief Executive Officer, Lloyd Diamond, to Transition to Role of Chief Business Officer
Lund, Sweden, January 22, 2016 – BONESUPPORT™, an emerging leader in both injectable bone substitutes and innovative drug eluting bone scaffold technology for orthopedic trauma, bone infections and instrument augmentation related to orthopedic surgery, announced today that the Company has appointed Richard Davies as BONESUPPORT™’s new Chief Executive Officer, effective immediately. Mr. Davies is a senior commercial leader in the life sciences industry with 25 years of global experience in all aspects of sales / marketing and country / regional leadership, a track record of devising and executing growth strategies and delivering successful results in complex situations.
BONESUPPORT™’s current Chief Executive Officer, Lloyd Diamond, will transition to the role of Chief Business Officer, effective immediately. Mr. Diamond will re-locate back to the U.S., establishing an executive level presence for the Company’s largest market. During his time with BONESUPPORT™.
Mr. Diamond secured an important distribution agreement in the U.S. with the world’s largest orthopedic market player, Zimmer Biomet, and transformed the Company from a Research and Development organization to a fully commercial group, with more than 20,000 CERAMENT™ procedures performed worldwide.
“I am proud of the transition BONESUPPORT™ has made from an R&D organization to a global commercial company in the four years I have had the pleasure of serving as CEO,” said Mr. Diamond. “My new role as Chief Business Officer will allow me to focus on further driving CERAMENT™commercial growth, particularly in the U.S. market.”
Mr. Davies previously spent nearly four years at Hospira, where he served as Chief Commercial Officer. While at Hospira, he drove growth, globalization and modernization across the business. Mr. Davies’ efforts led the company to an acceleration of revenue growth to 12% per year. Hospira was acquired by Pfizer at the end of 2015. Prior to Hospira, Mr. Davies spent nine years in increasingly senior leadership positions at Amgen in Europe, Australia and the U.S. His roles encompassed a start up of clinical and commercial operations in CEE, leadership of Australia and New Zealand and leadership of the U.S. Inflammation sales group, commercializing Enbrel, the most prescribed biologic medicine in the U.S. at that time. His most recent position at Amgen was General Manager, Japan and Asia Pacific. Mr. Davies began his career at Eli Lilly, spending 13 years in increasingly senior positions.
“First, on behalf of the entire Board, I’d like to thank Lloyd for his dedication and numerous achievements as BONESUPPORT™’s CEO over the past four years,” said Oern R. Stuge, M.D., BONESUPPORT™’s Chairman of the Board. “We are delighted to welcome Richard to BONESUPPORT™. His vast pharmaceutical experience will be key to leveraging the drug eluting capabilities of CERAMENT™. I look forward to working closely with Richard as we focus on the many opportunities ahead of BONESUPPORT™ in the coming years.”
“I am pleased to be joining BONESUPPORT™ as CEO at such a critical juncture in the Company’s history,” said Mr. Davies. “The technology BONESUPPORT™ has developed offers important health benefits to patients and represents significant upside value potential for investors. Lloyd has done a tremendous job in advancing the Company and I look forward to working with him and the team to continue to accelerate this growth.”
Mr. Davies is currently Chairman of the Board of Alvotech Iceland and has previously served on the Board of Zydus Hospira Oncology Products Ltd., and of several trade associations in Poland and Australia. He holds a B.Sc. in Applied Chemistry from Portsmouth University, and an MBA from Warwick Business School.
BONESUPPORT™ ANNOUNCES 20,000 PATIENTS NOW TREATED WITH CERAMENT™
Lund, Sweden, January 11, 2016 BONESUPPORT™an emerging leader in injectable bone substitutes for orthopedic trauma, bone infections and instrument augmentation related to orthopedic surgery, announced today the Company has reached a significant milestone with more than 20,000 patients treated worldwide with CERAMENT™, a novel injectable and moldable bone substitute with unique drug eluting capabilities. Adoption of the CERAMENT™ product portfolio continues to grow and gain momentum globally.
“In the past four years, we have transitioned from a Research and Development focused company to a commercial phase company,” said Lloyd Diamond, CEO of BONESUPPORT™. “In the U.S., CERAMENT™ procedure growth is being driven by the continued commercial progress BONESUPPORT™ and our U.S. distribution partner, Zimmer Biomet, continue to achieve. In Europe, the strong physician demand for BONESUPPORT’s first to market injectable antibiotic eluting products, CERAMENT™|G (gentamicin) and CERAMENT™ V (vancomycin), indicated to promote and protect bone healing in the management of bone infections, is fueling significant procedure growth in this region and in new markets with new indications.”
“Achieving this milestone of 20,000 CERAMENT™ procedures is not only recognition that our commercialization strategy is working, but validation that the utility of our novel technologies is resonating well with the global market place,” continued Mr. Diamond. “We look forward to expanding our product portfolio and extending the benefits to additional surgeons and patients worldwide.”
BONESUPPORT™ ANNOUNCES CERAMENT™ FOCUSED RESEARCH COLLABORATION WITH RIGSHOSPITALET, COPENHAGEN UNIVERSITY HOSPITAL
Rigshospitalet to evaluate CERAMENT™ platform for use in bone tumors
Lund Sweden, January 7, 2016 – BONESUPPORT™, an emerging leader in injectable bone substitutes for orthopedic trauma, bone infections and instrument augmentation related to orthopedic surgery, today announced that the Company has signed a research collaboration with Rigshospitalet, Copenhagen University Hospital, the largest hospital in Denmark, whereby the institution will evaluate BONESUPPORT™’s platform technology, CERAMENT™, in the management of bone tumors.
The study will retrospectively evaluate clinical results using bone allografts, and prospectively evaluate clinical results using CERAMENT™lBONE VOID FILLER and gentamicin eluting CERAMENT™lG, for prophylactic use in bone tumor patients. CERAMENT™ will also be evaluated in combination with different substances in order to achieve enhanced bone healing.
Surgical management of bone tumors can create a residual bone defect in highly compromised patients, which requires void filling to prevent infection or fracture. Synthetic bone substitutes offer significant advantages over traditional autograft and allograft, which are associated with high morbidity and risk of disease transmission.
“We are excited to evaluate the CERAMENT™ technology platform in this research collaboration,” said Michael Mørk Petersen, Professor, MD, DMSc, Rigshospitalet, who will oversee the study. “Both autologous bone and allograft have some disadvantages and risks associated with their use. We believe CERAMENT™ can provide a safe and effective alternative long-term solution to these technologies.”
“BONESUPPORT™ is pleased to enter into this collaboration with such a prestigious medical institution,” said Dr. Eva Lidén, VP of Research and Development of BONESUPPORT™. “Our CERAMENT™ technology platform continues to gain momentum with the physician community in Europe, and we will continue to invest in important research to validate our technology and improve upon the standard of care.”
CERAMENT™|G is CE-mark approved and is commercially available in parts of Europe, SE Asia and the Middle East. CERAMENT™|BONE VOID FILLER is FDA cleared and CE-mark approved and is commercially available in the U.S., Canada, parts of Europe, SE Asia and the Middle East. Zimmer Biomet is the exclusive distributor of CERAMENT™|BONE VOID FILLER in the U.S.
BONESUPPORT™ TO PRESENT CORPORATE OVERVIEW AT STIFEL 2015 HEALTHCARE CONFERENCE
BONESUPPORT™, an emerging leader in injectable bone substitutes for orthopedic trauma, bone infections and instrument augmentation related to orthopedic surgery, today announced that Lloyd Diamond, CEO of BONESUPPORT™, will provide a corporate overview at the Stifel 2015 Healthcare Conference in New York, NY, on November 18, 2015. The presentation will be audio-webcast live and archived for replay following the conference.
CERAMENT™|G features a new documentary
August 5, 2014 – BONESUPPORT, announced that CERAMENT™|G is a prominent feature in a new documentary, ‘The Orthopaedic Revolution: Treating Osteomyelitis’, which recently aired on the National Health Channel.
The documentary features Martin McNally, Lead Surgeon and Andrew Woodhouse, Lead Infectious Disease Consultant at the Bone Infection Unit of the Nuffield Orthopaedic Centre in Oxford, and explores a multidisciplinary approach to patient care, highlighting the risk of antibiotic resistance and the impact of new innovations such as the local delivery of antibiotics directly into the bone.
The program further discusses clinical experience with CERAMENT™|G, the first injectable antibiotic eluting bone substitute indicated to promote and protect bone healing being jeopardized by infection.
Osteomyelitis (bone infection) is a $1.7 billion market where prolonged, long-term antibiotic therapy, repeated unsuccessful surgical interventions and the threat of amputation are the current standard of care. An increase in prosthetic infections, diabetic ulcers, war injuries, sports injuries, and antibiotic resistance contribute to rising rates of osteomyelitis and increased costs to the NHS.
To learn more about BONESUPPORT please visit www.bonesupport.com
The CHUV (Centre Hospitalier Universitaire Vaudois) initiates a study.
June 19, 2014 – BONESUPPORT, announced the initiation of a CERAMENT™|G Bone Healing study by the CHUV (Centre Hospitalier Universitaire Vaudois), in Lausanne, Switzerland.
The CERAMENT™|G Bone Healing study is a prospective, controlled, cohort study investigating the absorption and bone in-growth of CERAMENT™|G in one-stage surgical revisions of bone infections. Dr. Olivier Borens, head of the septic unit at the CHUV, is principal clinical investigator for the study, which will follow patients for 12 months post surgery.
Study presented at the Combined Orthopaedic Research Society Meeting in Venice, Italy
Lund, Sweden, (PRNEWSWIRE) October 28, 2013 – BONESUPPORT announced results from a five-year follow-up study on patients treated with CERAMENT™|BONE VOID FILLER, as presented at the Combined Orthopaedic Research Society (CORS) meeting in Venice, Italy. The study demonstrates long-term safety and long-lasting bone mineral density improvement, following bone remodeling after treatment with CERAMENT™|BONE VOID FILLER in osteoporotic patients.
“The study results confirm what we know to be true about CERAMENT™, its osteoconductive characteristics create a stable framework to support new bone growth, making it a safe and effective solution to filling voids such as correction osteotomies following malunited distal radius fractures,” said Professor Magnus Tägil, lead investigator in the study. “More importantly, the full bone remodeling seen within a year after CERAMENT™ treatment seems to be a long-lasting solution because the normalized bone mineral density persists at least for five years, as demonstrated in the present study.”
The aim of the study was to evaluate the long-term performance of CERAMENT™|BONE VOID FILLER in correction osteotomy following malunited distal radius fractures, a common complication after this fracture. Most often, an iliac crest bone graft is used to fill the void, however, this method is associated with a high incidence rate of donor site morbidity.
“We believe CERAMENT™|BONE VOID FILLER offers significant advantages over current treatment methods and we are pleased to see the positive outcomes demonstrated in this study,” said Lloyd Diamond, CEO of BONESUPPORT. “Studies such as this help improve and advance medical care and help health care decision makers direct resources to the strategies and treatments that work best.”
BONESUPPORT AB Plans Medical Mission To Deliver CERAMENT™|G To University Teaching Hospital Of Butare (CHUB)
Referral Center for Osteomyelitis in Rwanda
LUND, Sweden, April 18, 2013 /PRNewswire/ -- BONESUPPORT, an emerging leader in injectable bone substitutes for orthopedic trauma, bone infections and instrument augmentation related to orthopedic surgery, today announced plans for a humanitarian medical mission to bring CERAMENT™|G, the first CE-marked injectable antibiotic eluting ceramic bone graft substitute, to the University Teaching Hospital of Butare (CHUB) in Rwanda. CERAMENT™|G is indicated to promote and protect bone healing being jeopardized by infection, a widespread problem in Rwanda. CERAMENT™|G is not yet freely available in Rwanda but has been cleared for the compassionate-use mission to provide access to this breakthrough treatment for those in Rwanda suffering from bone infections.
The University Teaching Hospital of Butare (CHUB) is the referral site for osteomyelitis for all of Rwanda, a rural country of 8 million people. The 700-bed hospital averages up to 10 cases per month of chronic osteomyelitis, mostly in children with infections that have been long neglected. Physicians from the University Teaching Hospital of Butare requested access to CERAMENT™|G after learning of its recent CE approval.
Lloyd Diamond, Chief Executive Officer of BONESUPPORT, and Professor Fredrik Lindberg, Chief Scientific Officer and Co-Founder, will deliver CERAMENT™|G to the University Teaching Hospital of Butare, observe cases and exchange ideas with doctors and medical students.
"CERAMENT has been used in more than 4000 clinical cases with excellent results," said Lloyd Diamond, CEO of BONESUPPORT. "We are proud to partner with CHUB to bring this level of care to the people of Rwanda."
Rwanda is known for the 1994 genocide that killed 800,000 people. CHUB was closed following the genocide. Most doctors were killed or fled for their lives. In ashes nearly 20 years ago, today the country has made great strides in restoring peace and improving the living and health conditions of its people. Life expectancy in Rwanda has increased from 48 years to 58 years in the past ten years, while deaths of children under the age of 5 have been reduced by half in five years. However, despite the progress, the per capita income is only $550 a year, making Rwanda one of the world's poorest countries and greatly in need of outside support.
The company has set up a blog to document and share photographs, videos and stories of this medical mission at: http://www.BONESUPPORT.com/blog/ .
BONESUPPORT is an emerging leader of injectable bone graft substitutes for orthopedic trauma focusing on bone infection, instrument augmentation and spinal applications. CERAMENT™ is an injectable, synthetic bone substitute that mimics the properties of cancellous bone, allows for controlled resorption to support future bone ingrowth and is injectable under local anesthesia for minimally invasive surgery. CERAMENT's unique biologic properties deliver a consistent, pre-packed and ready-to-use formulation to facilitate optimal delivery. CERAMENT™|G is the first CE-marked injectable antibiotic eluting ceramic bone graft substitute. CERAMENT™|G is indicated to promote and protect bone healing in the management of osteomyelitis, (bone infections) in CE marked countries. CERAMENT™|G is not available in the United States.
CERAMENT™ is a fully developed product platform that is commercially available in the U.S. and Europe and is revolutionizing the treatment of fragility and other fractures caused by disease and trauma. Scientific research of CERAMENT spans more than eleven years. Over forty-five pre-clinical, clinical and animal studies have been conducted and more than 4,000 patients have been treated with CERAMENT. The company was founded in 1999 and is based in Lund, Sweden with subsidiary locations in the US and Germany. To learn more about BONESUPPORT please visit www.bonesupport.com.
BONESUPPORT Announces CE-mark And Launch Of CERAMENT™|G The First Injectable Gentamicin Eluting Bone Substitute To Promote And Protect Bone Healing In Osteomyelitis
LUND, Sweden, Feb. 13, 2013 /PRNewswire/ -- BONESUPPORT, an emerging leader in injectable bone substitutes for orthopedic trauma, bone infections and instrument augmentation related to orthopedic surgery, announced today that the next generation product of the CERAMENT™ family, CERAMENT™|G has received CE-mark. It is indicated to promote and protect bone healing being jeopardized by infection. CERAMENT|G is the first injectable antibiotic eluting, osteoconductive, ceramic bone substitute to receive CE-mark and is supported by the robust clinical evidence of CERAMENT, including data from more than 4,000 patients with outcomes reported up to four years. The company is launching CERAMENT™|G immediately in CE mark countries.
"The extraordinary antibiotic eluting properties of CERAMENT|G allow surgeons to manage challenging bone infection cases with confidence," said Lars Lidgren, Professor of Orthopedic Surgery at Lund University Hospital in Sweden. "CERAMENT|G is an important advancement in the management of osteomyelitis with great potential to enhance outcomes for patients, and improve the health economics of infection management by reducing the systemic antibiotic burden, with less surgical interventions per patient, and less risk of developing antibiotic resistance."
Osteomyelitis, or Bone Infection is a $1.7 billion market where prolonged, long term systemic antibiotics over months and sometime years combined with surgical debridement and management of the resulting dead space is the current standard of care. Emerging prosthetic infections, diabetic ulcers, war injuries, high energy trauma and sports injuries, combined with an increasing resistance to antibiotics; are today in immediate need of new therapeutic solutions.
CERAMENT|G is an injectable, resorbable, ceramic, biphasic bone graft substitute which remodels into healthy native bone within 6 to 12 months, and is designed to fill bone gaps and voids and can augment hardware and bone fractures during surgical procedures. The efficient elution profile and the focused local delivery of gentamicin obtained with CERAMENT|G is intended to prevent colonization of sensitive microorganisms, thereby protecting the bone healing, particularly in challenging cases of deep bone infection.
"Osteomyelitis affects 150 million people worldwide each year, " said Lloyd Diamond, CEO of BONESUPPORT. "Many of these people suffer from deep bone infections and face years of antibiotic therapy, multiple surgical interventions and ultimately the threat of amputation. Expanding the CERAMENT portfolio to include this first in class antibiotic eluting formula provides a critical bone healing treatment option for the management of this debilitating condition, and continues our commitment to improve outcomes for physicians and patients."
BONESUPPORT is an emerging leader of injectable bone substitutes for orthopedic trauma focusing on bone infection, instrument augmentation related to orthopedic surgery and spinal applications. CERAMENT™ is an injectable, synthetic bone substitute that mimics the properties of cancellous bone, allows for controlled resorption to support future bone ingrowth and is injectable under local anesthesia for minimally invasive surgery. CERAMENT's unique biologic properties deliver a consistent, pre-packed and ready-to-use formulation to facilitate optimal delivery.
CERAMENT™ is a fully developed product platform that is commercially available in the U.S. and Europe and is revolutionizing the treatment of fragility and other fractures caused by disease and trauma. Scientific research of CERAMENT spans more than eleven years and over forty-five pre-clinical, clinical and animal studies have been conducted. More than 4,000 patients have been treated with CERAMENT. The company was founded in 1999 and is based in Lund, Sweden with subsidiary locations in the US and Germany.
BONESUPPORT Announces Exclusive Supply And Distribution Agreement With Biomet, Inc. For BONESUPPORT's Proprietary CERAMENT™|BONE VOID FILLER
Agreement Covers Distribution Rights of CERAMENT™ in United States and Canada
LUND, Sweden, Sept. 5, 2012 /PRNewswire/ -- BONESUPPORT, an emerging leader in injectable bone substitutes for orthopedic trauma, bone infections and instrument augmentation related to orthopedic surgery, today announced the signing of a multi-year exclusive distribution agreement with Biomet, Inc., a global leader in the manufacture of musculoskeletal medical products. Under the agreement, Biomet will have exclusive distribution rights for BONESUPPORT's proprietary CERAMENT™|BONE VOID FILLER product line in the United States and Canada for Orthopedics, Trauma and Foot and Ankle indications.
The agreement is an important step in BONESUPPORT's planned commercialization strategy to expand access and accelerate adoption of the CERAMENT™ product portfolio.
"The completion of this agreement with such a distinguished partner as Biomet is an endorsement of the CERAMENT™ product line," said Lloyd Diamond, CEO of BONESUPPORT. "In Biomet we have found an experienced partner dedicated to bringing innovative treatments to the world."
Mr. Diamond added, "Biomet's leadership position and strong distribution channel provide full and immediate territory coverage for CERAMENT™ in two critical markets, the United States and Canada and provides an excellent platform from which we can launch future product line extensions."
"We are very excited to be partnering with BONESUPPORT to bring the CERAMENT™ product line to the U.S. and Canadian markets," said Joel Higgins, Vice President and General Manager of Biomet Biologics. "Not only does CERAMENT™ complement our existing portfolio of products, this agreement demonstrates our commitment to bring innovative products to market which offer better therapeutic options to our customers and improved care for their patients."
BONESUPPORT Closes Second Tranche of Funding
LUND, Sweden, June 19, 2012 /PRNewswire/ -- BONESUPPORT, an emerging leader in injectable bone substitutes for orthopedic trauma, bone infections and instrument augmentation related to orthopedic surgery, reported today that it received SEK 70M; $9.9M; euro 8M in cash within the second and final tranche of funding. This is part of a larger investment that was announced in June 2011 when the company received approximately SEK 101M; $19m; euro 13m. In this round of funding, thirteen investors contributed, the majority coming from lead investors Healthcap, Industrifonden and Lundbeckfond Ventures.
The funds will allow BONESUPPORT to accelerate commercial expansion in the US, Europe and Asia, with a focus on the upcoming launch of an antibiotic formulated CERAMENT. Funding will also be used to further drive research and development and widen the Company's offerings.
"BONESUPPORT'S enhanced cash position improves our ability to support the short and long term growth strategy," said Lloyd Diamond, CEO of BONESUPPORT. "We believe this financing round will especially enable the Company to focus on its near term goal of launching the CERAMENT antibiotic portfolio, an exciting development in the CERAMENT platform that we believe will continue to drive our sales growth."
Oern Stuge, Executive Chairman added, "This funding is a testament to the confidence of our investors. It demonstrates their support of the management team and strategy, as well as their strong belief in the attributes of CERAMENT and the pending launch of our next generation products with antibiotic formulations."
For more information about BONESUPPORT and CERAMENT, visit the site at www.bonesupport.com.
BONESUPPORT Appoints Andreas Muchowski to VP of Sales Germany
LUND, Sweden, April 17, 2012 - PRNewswire
BONESUPPORT, an emerging leader in injectable bone substitutes for orthopedic trauma, bone infections and instrument augmentation related to orthopedic replacement surgeries, today announced the appointment of Andreas Muchowski to the position of Vice President of Sales Germany. Andreas will lead sales recruiting efforts and prepare for the upcoming market launch of exciting new bone remodeling products for the prevention of deep bone infections related to disease and trauma.
Andreas brings more than 20 years of successful sales and management experience within the medical device industry. Prior to joining BONESUPPORT, Andreas was Regional Manager of North and Eastern Regions for Stryker, and before that, he held several key positions at KCI.
"Andreas Muchowski brings a wealth of career achievements in the device industry," said Lloyd Diamond, CEO of BONESUPPORT. "He is a proven leader at driving revenue growth and we are confident that he will successfully guide our German sales team through the next phases of expansion."
Drawing upon his vast experiences, Andreas is well positioned for his role at BONESUPPORT. "I look forward to building our direct sales organization and driving dynamic growth for the company," said Mr. Muchowski. "CERAMENT is an exciting product that will have a significant impact on patients suffering from fragility fractures and bone infections. I'm proud to be a part of this effort to improve patient outcomes."
For more information about BONESUPPORT and CERAMENT, visit their new site at www.bonesupport.com.
LUND, Sweden, April 4, 2012 - PRNewswire
BONESUPPORT, an emerging leader in injectable bone substitutes for orthopedic trauma, bone infections and instrument augmentation related to orthopedic surgeries, today revealed details of a One Hundred Day Plan presented by Chief Executive Officer Lloyd Diamond. Mr. Diamond addresses key initiatives aimed at accelerating global commercialization of the company's flagship product platform, CERAMENT™.
Focusing resources on key market segments where CERAMENT™ offers a unique and significant clinical advantage over traditional bone grafting or other bone substitutes
Strengthening direct sales channels in Germany while expanding distribution in the U.S. and other key markets.
Building brand awareness of CERAMENT™ through clinical substantiation, relationship building among key opinion leaders and centers of excellence, and through patient and physician education efforts.
Continuing to develop a robust product pipeline to further extend the benefits and applications of CERAMENT™.
"We have a strong foundation in the CERAMENT™ platform and in our management team," said Lloyd Diamond, Chief Executive Officer of BONESUPPORT.
"Streamlining our efforts on these initiatives will position us well to attract quality distribution partners and will enable us to achieve our growth goals more efficiently and effectively."
CERAMENT™ is an injectable, synthetic bone substitute that mimics the properties of cancellous bone, allows for controlled resorption to support future bone ingrowth and is injectable under local anesthesia for minimally invasive surgery. CERAMENT™'s unique biologic properties deliver a consistent, pre-packed and ready-to-use formulation to facilitate optimal delivery.
As previously announced, Mr. Diamond joined BONESUPPORT in January of 2012. Mr. Diamond brings to BONESUPPORT a wealth of industry experience with leading global companies such as Laserscope, Kyphon and Conmed Linvatec; formerly Zimmer when it was a subsidiary of Bristol-Myers Squibb.
Fredrik Lindberg is this year’s Ideon prizewinner
President and cofounder Fredrik Lindberg is awarded the Ideon prize for his journey with BoneSupport from an incubator enterprise to an international medical technology corporation.
Ideon Science Park announced today that this year's Ideon prize is awarded to Fredrik Lindberg, president and cofounder of BoneSupport AB.
BoneSupport works with a ceramic, injectable bone substitute for treatment of osteoporosis fractures, among others. The corporation's basic product was developed from research at the Orthopedic Clinic at Lund University under the direction of Prof. Lars Lidgren.
Today, 10 years after the founding of BoneSupport atts Ideon’s first incubator enterprise, the corporation has subsidiaries in the USA, the Netherlands and Germany with more than 30 employees.
”To be able to receive the Ideon prize from such an illustrious group as the members of the Ideon Society is recognition far beyond the usual. As an entrepreneur, one always places his company and its employees in the front row, but once in a while it can be a pleasure to be singled out personally. I am both happy and proud and now have more fuel for my passion to turn BoneSupport into an internationally successful corporation', says Fredrik Lindberg.
The citation reads as follows:
”This year's Ideon prizewinner has spent a good 10 years starting and building a very promising company that is now going into a commercial phase and has great possibilities for finding the world at its feet.
The prizewinner has a highly developed ability to combine both leadership and salesmanship and has the heart and soul of a research scientist as well. The company that he has built out of the original laboratory report has produced products that already have helped and are going to help many people to a significantly better life.”
With strong financing, BoneSupport has been able to attract significant risk capital totaling 490 million kronor and this year alone Industrifonden, HealthCap and Lundbeckfond Ventures invested 170 million kronor in the company. The potential market for bone substitute in Europe alone is around 3 billion kronor and many times that for the US market.
Lloyd Diamond new CEO of BONESUPPORT
Lloyd Diamond has been recruited CEO of BONESUPPORT – the Swedish medical technology company with a revolutionary orthobiologic platform for treatment of osteoporotic fractures and deep bone infections. Mr. Diamond replaces Dr. Fredrik Lindberg, the co-founder and present CEO, who will remain in the company as Chief Scientific Officer.
By the recruitment of Lloyd Diamond BONESUPPORT is taking the next step in accelerating the commercialization of its Cerament oesteoconductive bonesubstitute. There is strong support and a firm commitment from the owners to build a world class company within the segment for injectable orthobiologics.
“Lloyd’s very strong international experience from the device industry, including spine and orthopedics, will help us accelerate our ambitions to grow the company. I am very pleased that we have attracted Lloyd to join us with his solid commercial and operational background”, says Oern Stuge, Chairman of BONESUPPORT.
“I am very excited about joining BONESUPPORT – an innovative
high-tech company which has developed top class products based on solid scientific evidence. In addition, the company has an exciting pipeline of future orthobiologic products ”, says Mr. Diamond.
Mr.Diamond has held positions in the medical device industry with leading global companies such as Laserscope, Kyphon and Conmed Linvatec; formerly Zimmer when it was a subsidiary of Bristol-Myers Squibb. He most recently served as the President Lumenis EMEA. Previously Mr. Diamond served as Sr. VP and General Manager of Lumenis’ Surgical and Vision businesses. He holds a BS Degree in Biochemistry and Marketing, as well as a Masters in Business Administration from Thunderbird School of Global Management in Arizona. Mr. Diamond will commence his new position at BONESUPPORT on Jan 16, 2012.
Fredrik Lindberg, co-founder and current CEO will remain in the company as Chief Scientific Officer being responsible for key customer relations, driving the clinical publication program as well as the product development pipeline for “the first of its kind” products for the treatment and prophylaxis of deep bone and orthopedic prosthesis infections.
“As a co-founder I am very pleased to get the chance to work with Lloyd. With his background from commercial operations within the international medtech industry I am convinced BONESUPPORT will expand more rapidly in the international market,
says Fredrik Lindberg.
BONESUPPORT raising in total 170 MSEK ($ 26 mill, € 18 mill)
The Swedish MedTech company BoneSupport is implementing a follow-up share issue
with the Danish investment fund Lundbeckfond Ventures. Together with the share issue
in June this year, the company has raised totally 170 MSEK during 2011. The company
markets CERAMENT ™, an injectable biologic that remodels into bone and heals
Bonesupport’s material, CERAMENT ™, is non-toxic and tissue-friendly, in contrast to the
heat-generating plexiglass-based material often used today. It has the same hardness as
cancellous bone and has been shown to produce significantly fewer fractures in adjacent
vertebrae while promoting fracture healing. Ongoing product development includes
prophylaxis of hip fractures and combination with antibiotics for prophylaxis or treatment of
Vencorp Partners with its unique focus on the problematic of ageing is proud to announce it will be for the third time a co-sponsor at the Medtech Investing Conference in Lausanne, March 7-8.2011
Industrial top name to chair BONESUPPORT
BONESUPPORT, a Swedish medical technology company with a revolutionary biologic treatment of vertebral compression fractures, has appointed Oern Stuge Chairman of the Board. Mr. Stuge has held leading positions for twelve years at Medtronic, the world’s largest medical technology company. His latest position at Medtronic was President EMEA, Latin America, Canada & India.
American industrial leader joins BONESUPPORT board
BONESUPPORT, a medical device company that develops injectable bone for the healing of vertebral compression fractures, has elected Michael Baker – President and CEO of Pulmonx in the United States – to its Board of Directors.
Michael Baker has joined the board of BONESUPPORT, a medical device company in Lund, Sweden that develops CERAMENT™ for the treatment of osteoporotic fractures. BONESUPPORT has subsidiaries in the United States, the Netherlands and Germany.
BONESUPPORT hires four top names in sales and marketing
BONESUPPORT, a medical technology company that develops and markets injectable bone substitutes, has upgraded its commercial organization by hiring four top names in sales and marketing. The company is also adding additional sales representatives and a number of customer service representatives.
BONESUPPORT hires Fredrik Groth as Chief Financial Officer
BONESUPPORT, a Swedish medical technology company that develops injectable bone filler, has hired Fredrik Groth as its new Chief Financial Officer. With more than 20 years of experience in the Swedish industrial sector, Mr. Groth was last employed by Cardo AB, where he served as Senior Vice President and head of the Pump division, as well as other senior positions.
Bonesupport gains its second EU product approval
The medical technology company Bonesupport has received EU approval for
Cerament™ Bone Void Filler. The product is a ceramic bone substitute
primarily used for the treatment of osteoporotic fractures. Bonesupport is
now launching an aggressive marketing campaign targeting selected
markets within the EU.
This is Bonesupport's second EU approval
Vencorp is pleased to co-sponsor the 8th MedTech Investing Europe Conference, 12th February & 13th February, 2009 in EPFL Lausanne, Switzerland.
MTI Europe is the leading European event for bringing together investors and innovators from around the world.
Injectable bone substitute receives EU approval for treatment of vertebral fractures
Cerament™ Spine Support, key product of medical technology company Bonesupport, has received EU approval for treatment of vertebral fractures in patients with osteoporosis. The approval gives Bonesupport the impetus to enter the major European markets. The company is already active in the USA.
”The EU approval means a major breakthrough for Bonesupport in the European market. We are preparing launches in several markets and have already established sales in the USA. The approval has therefore come at a very opportune moment”, explains Fredrik Lindberg, CEO of Bonesupport.
Vertebral compression fractures are a worldwide problem. There are 700 000 annually in the US, 500 000 in Japan, and 350 000 in Europe. In the European Union, vertebral fractures are responsible of 8% of the hospital costs of all osteoporotic fractures with an estimated yearly expense of 377 €M.
The MIVCF (minimally invasive vertebral compression fracture) treatment market for 2008 is estimated to €M 109.7 comprising France, Germany, Italy and UK.
In an initial stage the approval applies to use of the injectable bone substitute for treatment of vertebral fractures primarily in patients with osteoporosis. Bonesupport foresees approval of its other product Cerament™ Bone Void Filler in the coming months.
“I believe I speak for the majority of my colleagues in welcoming the CE Mark clearance for a biological material alternative for the treatment of vertebral compression fractures and vertebral augmentation procedures. Options have been very limited and with the growing number and complexity of patients requiring treatment the opportunity to use a biological material is very exciting”, said Professor Johannes Hierholzer, Chefarzt der Diagnostischen und Interventionelle Radiologie, Klinikum Ernst von Bergmann gemeinnützige GmbH., Potsdam, Germany.
full press release at www.bonesupport.com
BONESUPPORT acquires Ultrazonix and implements SEK 122 million ($20 mill; €13 mill) new share issue
The medical device company Bonesupport has acquired Ultrazonix, a medical technology company which has developed a new ultrasound based method for treatment of herniated discs. At the same time Bonesupport is implementing a new share issue of SEK 122 million to guarantee continued expansion. The acquisition allows Bonesupport to broaden its product offering and strengthen its position in the market for treatment of spinal disorders.
”Through the acquisition of Ultrazonix we are bringing in a new and exciting technology platform which means that we will be able to treat herniated discs alongside our existing products for treatment of vertebral compression fractures,spine surgery and different orthopaedic conditions. This will give our operation a broader base and allow us to focus even more on the treatment of painful but very common spine disorders”, comments Fredrik Lindberg, CEO of Bonesupport.
”The deal with Bonesupport is a very good fit for Ultrazonix. We will now be able to draw on Bonesupport’s international contact network and existing channels to expand the sales of our products”, says Eugen Steiner, Chairman of Ultrazonix.
The Ultrazonix product is intended for high intensity focused ultrasound treatment of chronic back pain caused by herniated discs. The product is CE marked and has FDA clearance in the United States. The US and European market for this product amounts to about 600 million euros.
There are several positive synergies between Bonesupport and Ultrazonix. Both companies see the EU and North America as their prioritised markets. They have the same target groups, i.e. spinal surgeons, neurosurgeons, orthopaedic specialists, radiologists and anaesthesiologists. The merger will enable Bonesupport to broaden its product offering and market the products through its existing and developing distribution and marketing channels. The acquisition of Ultrazonix is being financed through a directed new share issue to existing Ultrazonix owners.
New share issue of SEK 122 million
Bonesupport will also implement a new share issue of approx. SEK 122 million (€ 13 million) for subscription by existing as well as new owners. The capital infusion will primarily be used for marketing initiatives and an extensive clinical programme in advance of planned product launches within EU and selected markets such as the US and Canada. The new share issue is one of the largest in the Swedish healthcare sector during 2008.
”Bonesupport has major potential and we want to use the new share issue to accelerate commercialisation of our operation and guarantee our continued expansion”, says Michael Pålsson, Chairman of Bonesupport.
Through the new share issue, venture capital companies HealthCap, Stockholm and NBGI Ventures, London will increase their holdings in Bonesupport. Other major stakeholders include Teknoinvest, FERD Venture, Vencorp Partners, Innovationskapital and Teknoseed.
Ultrazonix is a medical technology company established in 2001. The company has developed an ultrasound based method for treatment of herniated discs. The method is a minimally invasive intervention where an ultrasound probe is placed on the surface of the intervertrebral disc surface whereupon focused ultrasound is applied and the gelatinous disc proteins coagulate. Coagulation reduces the hydrophilic properties of the proteins which results in shrinkage of the disc and relief of the patient’s pain. The Ultrazonix method replaces conventional surgery, currently the most common way to treat a herniated disc. The result is the same, but the treatment is simpler and the patient recovers more quickly.
BONESUPPORT AB is an innovative Swedish medical technology company, certified under ISO 13485, which focuses on development of ceramic, injectable bone substitutes for treatment e.g. of osteoporotic fractures. Established in 1999, BONESUPPORT AB today has 24 employees and is based at the Ideon Science Park in Lund, Sweden. The company has subsidiaries in the USA, where sales started late last year, and in Germany.
Bonesupport has applied for EU approval of its key product CERAMENT™ SPINE SUPPORT for treatment of spinal fractures in patients with osteoporosis. Approval is expected in the autumn of 2008. The company has also applied for EU approval of its second product CERAMENT™ BONE VOID FILLER.
Market potential for the injectable bone filler CERAMENT™ is large world-wide. The global orthopaedic market generates billion dollar sales each year and within five years the potential market for treatment of e.g. spinal fractures is estimated to exceed 2 billion dollars in the US alone. Growth is estimated at about 50 percent annually.
Following a long tradition of friendship and partnership with Russia, Vencorp Partners was for the fourth time in a row one of the sponsor of the chess Moscow Aeroflot Open.
The tournament reached an extremely high level and was won by the young GrandMaster Ian Nepomniachtchi of Russia. Vencorp’s Founding Partner B. Kouatly was present at the opening and closing ceremonies.
Vencorp Partners has lead a B recap funding round in MKL System SAS, a leading French video analytics software company which focuses on providing unique digital video and still picture analysis solutions to large corporate and institutional clients active in the infrastructure, transportation, industrial, FMCG and retail sectors, as well as Governments and public entities.
MKL System will use the additional funding for new product development and to further accelerate the commercialisation of its established software products and solutions.
MKL System video analytics solution transforms video surveillance into a dynamic, real-time intelligent system with multiple applications in the security, access control and vehicle and people flow monitoring in virtually any environment. MKL System offers the industry’s best event detection accuracy and far fewer false alarms than traditional systems, optimising required human response and resources.
MKL System clients include large infrastructure operators, such as Aéroports de Paris (ADP), Government and Public Agencies. MKL System unique approach to video analytics also allowed the company to develop digital video and pictures based business process improvement software tools used by some of the World’s largest merchandising and FMCG groups.
William Saarbach, who lead the transaction for Vencorp Partners, said: “While we were originally attracted to the rapidly growing space of digital video analytics, we turned down a number of investment opportunities in companies focused exclusively in the security and monitoring segments. Ultimately, we identified unique competitive advantages in MKL System’s versatile and genuinely superior technology, and in the innovative approach of an accomplished management team allowing the company to also make inroads into non-exclusively security related areas, including merchandising, retail, industrial processes and electronic media. We now look forward to working with MKL System team on multiplying market opportunities and further enhancing the company’s leadership in these growing market segments.”
Blaise Javet, Founding Partner at Vencorp Partner said: “we are extremely pleased to contribute through Vencorp’s network to the success of a very promising technology.”
Vencorp Partners is pleased to communicate that for the third year in a row, Vencorp was one of the sponsor contributing to the success of one the major chess events in Russia: the Moscow Aeroflot Open.
Vencorp's Founding Partner Bachar Kouatly was present and, as an ex-International Grand Master, followed with great interest many of the games during the tournament.
At the closing ceremony, the long time Vencorp's Advisory Board member, chess ex-world champion Anatoly Karpov was one of the well known personalities present along with the chief organizer A. Bakh and representatives of russian authorities.
BONESUPPORT strengthens management team for international expansion (...) is another important step in our ambition to strengthen our organisation in preparation for the impending U.S. launch of our first product, Cerament™| Bone Void Filler says CEO...
for full press release http://www.bonesupport.com
The medical technology company BONESUPPORT AB in Lund, which develops synthetic, injectable ceramic bone substitute, has received SEK 135 million (approx. USD 19 mios) from a new share issue. The new investors include the venture capital companies HealthCap of Stockholm and NBGI Ventures of London which will join existing owners, including, Innovationskapital, Teknoinvest, FERD Venture and Vencorp Partners. BONESUPPORT focuses on developing products based on injectable ceramic bone substitute mainly for the treatment of bone defects and osteoporosis. The market for bone graft material is estimated at around USD 2 billion with an annual increase of over 25 per cent. BONESUPPORT’s synthetic bone substitute CERAMENT™|BONE VOID FILLER has been approved by the FDA for launch on the US market. The product is aimed at the spinal fusion segment as well as broader orthopaedic applications. The US launch is scheduled for the end of 2006, following which the product will be launched in Europe and Asia.
For the complete press release: http://www.bonesupport.com
Participation in a new Institutionnal round of financing for a portfolio Medical company.
Blue Oak Capital will be the exclusive distributor of Stanford Group Company's institutional research to clients primarily in Europe and Asia through its international sales force.
For the complete press release: http://www.blueoakcapital.com/int.php?content=us
Vencorp increased its participation in a Alternative Asset Management Company in London (UK).
Sweden, Malmö: Vencorp Senior Partners signed the definitive Share Purchase Agreement with the founders of Bone Support and Ultrazonix, to acquire a stake in these two companies. Vencorp will manage this investment with the founders along existing investors Teknoinvest, Innkap, Ferd, Industrifonden and Medicon Valley.
London: Vencorp consolidated its position, participating to the B round financing of BlueOak Capital, an independent London based financial research company regulated by the FSA.
Lisbon: Vencorp officialy received the final authorisation of the regulatory Body (CMVM) to establish a VC firm in Portugal.
Sweden: Vencorp Partners signed a MoU outlining the terms of a forthcoming investment in two Swedish companies through its European regulated vehicle, Vencorp Sicar. Bone Support is dedicated to the development of injectable bone-like materials based on biocompatible synthetic ceramics and Ultrazonix is developing non invasive ultrasound treatment methods for back pain and disc herniation.
|Vencorp Founding Partner B. Javet signs a MoU with Professor Lars Lidgren.|
Luxembourg: Vencorp established its inaugural European Fund for Institutional investors based around the theme of Ageing Population.