Orthobiologics company Cerapedics completed a Series D financing round totaling $11 million.
Here are four notes:
1. Cerapedics will use the funds to expand the commercialization of its i-FACTOR Peptide Enhanced Bone Graft. In Nov. 2015, the FDA approved the company's i-FACTOR Peptide Enhanced Bone Graft for use in anterior cervical discectomy and fusion procedures in patients with degenerative cervical disc disease.
2. The company will also use the funds to continue developing its Cerapedics' synthetic small peptide technology for lumbar spine fusions.
3. Cerapedics developed the i-FACTOR bone graft based on P-15 technology to promote bone growth through cell attachment and activation. The graft is the first bone graft that the FDA has approved for cervical spine use. Providers can use the bone graft as a substitute for autologous bone in ACDF procedures.
4. Estimates place the U.S. surgical market for biologic bone substitutes at nearly $1.5 billion.
"As we close our Series D financing, Cerapedics is well on its way to becoming one of the most innovative and successful private orthobiologics companies in the industry," said Glen Kashuba, CEO, Cerapedics. "We look forward to accelerating our commercialization efforts in the U.S. following outstanding feedback from surgeons across the country who have been among the first to use i-FACTOR grafts in cervical spine procedures, and are also focused on expanding our presence in international markets in the near future."
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