Biomendex closed 1 M€ investment round
Posted on 03.05.2021 by Biomendex
Biomendex, Tampere-based tissue technology company, recently closed 1M€ investment round. The new funding will be used to further accelerate product development, clinical trials and commercialization of Adaptos® bone graft substitute.
The round was lead by Scanfert Oy and also company’s previous investors participated the round. This new investment is a continuation of the company’s initial 400 k€ seed round from 2019. In addition to these private equity investments Biomendex has received 600 k€ funding from Business Finland and 2,25 M€ funding from EU as part of Horizon 2020 program.
“The new funding will enable us to execute our business plan at full speed”Dr. Kaarlo Paakinaho, the CEO of Biomendex.
Company’s innovation, Adaptos®, is the first truly adaptable synthetic bone graft substitute that has optimal porosity and a durable structure that recovers after compression. It imitates the structure of cancellous bone and acts as scaffold material that supports bone regeneration.
During the past 24 months Biomendex has progressed with the development of first Adaptos® products and has established its own laboratory and production facilities and prepared for clinical trials that are required for market entry. The market studies have been validating significant market potential for Adaptos® products in clinical and veterinary applications.
Biomendex’s team currently consist of 8 professionals and further recruitments to strengthen the team are under way.