🏨 The funding will be used to finance a clinical study of LDGraft, a bone graft substitute.
💉 LDGraft combines a drug delivery method with an osteoconductive scaffold and received FDA approval.
🌍 Locate Bio plans to use its protein encapsulation technology in other orthopedic treatments.
💼CEO John von Benecke believes the funding reflects investor confidence in the company’s vision.
Introduction:
University Nottingham spin out, Locate Bio Ltd, has raised £9.2m in venture capital financing. The funding, led by Mercia Ventures and Business Growth Fund, will be used to finance a clinical study of LDGraft, a bone graft substitute for spinal fusion. LDGraft is a sustained-release formulation of recombinant human bone morphogenetic protein-2 (rhBMP-2) combined with an osteoconductive scaffold. The study will evaluate LDGraft’s effectiveness in spinal fusion. If successful, Locate Bio plans to use its proprietary protein encapsulation technology to deliver rhBMP-2 in other orthopedic indications.
- Locate Bio Ltd has raised £9.2m in venture capital financing.
- The funding will be used to finance a clinical study of LDGraft, a bone graft substitute for spinal fusion.
- LDGraft is a sustained-release formulation of recombinant human bone morphogenetic protein-2 (rhBMP-2) combined with an osteoconductive scaffold.
- If successful, Locate Bio plans to use its proprietary protein encapsulation technology to deliver rhBMP-2 in other orthopedic indications.
Conclusion:
Locate Bio Ltd has raised £9.2m in venture capital financing to support the clinical study of LDGraft, a bone graft substitute for spinal fusion. The study will evaluate the effectiveness of LDGraft and if successful, Locate Bio plans to expand its use in other orthopedic indications. This funding round demonstrates significant investor confidence in the company’s vision and the potential of LDGraft to become a leading bone graft substitute globally.
