Bacterin International Holdings, Inc. has raised $6.5 million in a common stock offering.
Bacterin Garners $6.5 Million in Stock Offering
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Secondary
The company announced on August 6, 2014 that the successful public offering of 1.143 million shares at $5.70 has been completed. The funds will be used to expand the sales force and the increasing inventory needed to meet expected market demand.
Bacterin was founded in 1998 as a spinout of the Center for Biofilm Engineering at Montana State University. Revenues were historically derived from testing services and milestone payments from collaborative product development agreements with various blue chip medical manufacturers. Today, the company generates revenue from a number of sources including:
- sales from products developed and manufactured by the company
- sales of products manufactured by a third party and sold and distributed by the company
- contract revenue from analytical testing and development services provided to medical device manufacturer clients, which tailor Bacterin’s coating process to the client’s specific product/medical application.
Bacterin Products
The company, located in Belgrade, Montana, develops bioactive coatings for medical applications and bone graft material, processes and markets biologic allografts for transplantation. Bacterin’s biologic scaffolds, OsteoSponge, OsteoSponge SC and OsteoWrap, are made from demineralized bone that is malleable and flexible, which enables efficient and precise handling. It also markets BacFast and OsteoLock, which are used in spine surgery, designed to minimize graft back-out, and increase osteoinductivity. Bacterin’s latest allograft, OsteoSelect DBM Putty is distributed as a sterile product, with osteoinductivity testing completed on every lot after terminal sterilization.
Bacterin’s Medical Device and Coatings Division focuses on the development of bioactive coating technologies for implantable devices. Its core competency is anti-microbial coatings designed to reduce potential infections associated with implants. This division also manages surgical kits necessary to support implantation of products processed by Bacterin’s Biologics Division. Bacterin operates a 32, 000 sq. ft., state-of-the-art, fully compliant and FDA registered facility, equipped with five “Class 100” clean rooms.
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This is a fascinating development. In my practice we've seen similar outcomes with the revised protocol. The key differentiator seems to be patient selection criteria. Has anyone else noticed the correlation with BMI thresholds?
Great point. I'd push back slightly on the conclusion, the sample size in the cited study is too small to draw population-level inferences. That said, the directional signal is compelling and worth a larger RCT.
We implemented a similar approach last year. Early results are promising but we're still gathering 12-month follow-up data. Happy to share our protocol if anyone is interested.
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