Dallas-based Bone Solutions Inc. (BSI) has officially closed its latest private placement memorandum of $1.5MM. The company blew past its original goal by achieving a funding round totaling more than $1.7MM. BSI also has an additional $1.65MM in committed funding from Next Health LLC.
$1.5 Million (and More) for Bone Solutions
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“We are very pleased and grateful to all of the investors and companies who have supported our latest funding campaign, ” said president and CEO, Drew Diaz, in the May 19, 2016 news release. “This is an exciting time for our company, and we look forward to our official launch and changing the landscape of the orthobiologics industry.”
According to the news release, the funding comes weeks before BSI’s anticipated launch date for its new magnesium-based bone void filler product, OsteoCrete. The product has been cleared by the FDA for long-bone and general orthopedic applications.
Diaz told OTW, “We are very excited to be in a position to launch OsteoCrete and make this product available to surgeons. The product provides initial compressive strength and rapid curing time surgeons are looking for out of resorbable bone void filler but with resorption properties that are superior to the current calcium phosphate cements available to them. OsteoCrete accomplishes this with its unique magnesium phosphate formulation, which has an unparalleled osteostimulative effect in addition to being osteoconductive. An additional distinctive aspect of OsteoCrete is its bioadhesive properties to bone and metal, which we think will be very adventitious for surgeons specifically within fracture repair procedures.”
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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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