Progentix Orthobiology B.V. closes Series A financing round
Progentix Orthobiology B.V. announced the closure of its Series A financing Round. The round was led by BioGeneration Ventures. Progentix Orthobiology B.V. was established in 2007 and develops a unique suite of osteoinductive material products for clinical application in bone regenerative surgery.
Progentix bone graft material is based on surface structured ceramic biomaterial scaffolds that have the ability to attract growth factors and stems cells after implantation, which results in the induction of bone growth. According to the company, these materials are not only superior to currently available synthetic ceramic bone grafts, but based on their bone healing and regeneration potential also directly compete with the gold standard of autologous bone, and the growth factors that are being used today and those under development. The Series A financing round will support further technology validation and the generation of clinical proof of principle.
Dr. Joost de Bruijn, CEO of Progentix Orthobiology said: "We are extremely pleased with the support of BioGeneration Ventures. This financing round will allow us to continue building value and lay the groundwork for the launch of our first products in the near future".
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