Latest Medtech News
Inossia AB, a Stockholm-based developer of bone cement technology, has completed an oversubscribed financing round of SEK 88M ($8.8M). It combined a rights issue for existing shareholders with a directed share issue, subscribed primarily by Cradle Growth and the EIC Fund. About half of the capital is paid on completion, with the remainder to be invested upon FDA clearance of the product in the U.S. Aurelia Partners advised on the round.
As an executive search partner to the MedTech industry, Guided Solutions keeps a close eye on stories like this one. Subscribe to our Industry Insights for weekly coverage.
The product is the Inossia Cement Softener, which is mixed with an FDA-approved PMMA-based bone cement to bring its stiffness closer to that of natural bone. The aim is to lower the risk of future vertebral fractures. The device holds FDA Breakthrough Device Designation, and the company plans to submit for FDA clearance within the next 12 months.
The clinical gap is sizable. About 8.6 million vertebral fractures occur globally each year, 1.4 million of them in the U.S., and around 300,000 are treated with bone cement. The company says up to 40% of patients treated with existing methods experience new vertebral fractures, and that no comparable softening agent is available.
For Inossia, the milestone-linked structure ties part of the funding to regulatory success. CEO Malin Nilsson called the raise “a strong validation of the work we have accomplished so far,” and said the company can now focus on commercialization and international growth.
