HOPKINTON, MA | August 4, 2026
Isto Biologics strengthens its bone graft substitutes platform with the acquisition of NovaBone
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Isto Biologics (“Isto”), a biologics company dedicated to advancing bone healing, today announced the acquisition of NovaBone Products LLC (“NovaBone”), a developer and manufacturer of synthetic bone graft products, from Halma plc. Supported by Keensight Capital (“Keensight”), one of the leading private equity managers dedicated to pan-European Growth Buyout[1] investments, the acquisition adds a differentiated portfolio of bioactive glass technologies and expands Isto’s ability to support surgeons with a broader range of bone graft options.
Founded in 2002 and headquartered in Alachua, Florida, NovaBone develops and manufactures synthetic bone grafts based on its proprietary bioactive glass technology, which are sold in more than 40 countries worldwide. NovaBone’s products are supported by more than 20 years of clinical evidence and used across spine, orthopedic, foot & ankle, trauma, extremities and dental procedures.
This acquisition strengthens Isto’s portfolio by adding new, differentiated synthetic products, enabling the company to provide surgeons with a broader range of bone graft substitutes. NovaBone will also reinforce Isto’s presence in several surgical end-markets, while expanding its international footprint through an established presence in Europe, Asia-Pacific and LATAM. Together, the two businesses can reach a broader customer base through Isto’s commercial platform while combining complementary R&D and manufacturing strengths to drive continued innovation.
Completed just 10 months after Keensight’s investment in the business, this marks Isto’s first strategic acquisition and reflects its ambition to build a transatlantic leader in bone regeneration.
Brian Barnes, CEO, and Nate Taylor, President of Isto Biologics, said: “This acquisition is a transformative milestone for Isto. NovaBone has built a highly regarded product portfolio supported by strong clinical evidence and an excellent reputation among surgeons. The addition of its synthetic bone grafts broadens our offering and strengthens our ability to support surgeons across a wider range of procedures. We look forward to building on our shared commitment to innovation and helping patients heal faster.”
Amit Karna and David Piccoli, Partners at Keensight Capital, concluded: “Since partnering with Brian, Nate, and Isto’s management team last year, we have shared the ambition of building a leading orthobiologics platform through organic growth and targeted acquisitions. NovaBone is a highly strategic addition to Isto’s growing platform that will strengthen Isto’s product offering, expand its geographic footprint, and position the combined business as a transatlantic leader in bone regeneration.”
[1] Growth Buyout: investment in profitable, private companies experiencing strong growth, in minority or majority positions, with or without leverage, using a flexible approach tailored to the needs of individual entrepreneurs, in order to finance organic growth projects, acquisition strategies or provide historic shareholders with liquidity.
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About Isto Biologics
Isto Biologics is a leading biologics and cellular therapy company. Focused on Helping Patients Heal Faster™ through innovative solutions for bone regeneration and cell-based therapies, Isto prides itself on providing the most complete and innovative biologics offerings on the market. From its inception around Isto's flagship autologous cellular solution, the Magellan® Autologous Platelet Separator, Isto has grown through developing complete bone grafting options touching all categories of bone grafts; InQu® Bone Graft Extender & Substitute; Influx™ Advanced Allograft Technology including Fibrant™ Functional Allograft Constructs, SPARC Integrative Bone Matrix, and ProteiOS Allograft-Derived Proteins. www.istobiologics.com
About NovaBone
NovaBone, based in Florida since 2002, developed the first bioactive synthetic bone graft offered to the orthopedic community and has long been at the forefront of bioactive glass bone graft devices. It has developed numerous formulations and delivery systems of its patented, bioactive technology platform that results in accelerated bone growth. In total, their exclusively formulated bone graft substitute has been used for the repair of osseous defects throughout the skeletal system for over two decades and used in over two million clinical applications with unparalleled success validating the safety and efficacy of NovaBone’s technology. www.novabone.com
About Keensight Capital
Keensight Capital (“Keensight”), one of the leading European Growth Buyout firms, is committed to supporting entrepreneurs as they implement their growth strategies. With over 25 years of experience and more than €8bn of assets under management, Keensight Capital’s team of seasoned professionals leverages their differentiated private equity experience to invest in profitably growing companies generating revenues in the range of €10 million to €400 million. Drawing on its expertise in the Technology and Healthcare sectors, Keensight identifies the best investment opportunities in Europe and works closely with the management teams providing capital, strategic guidance and operational support. Keensight operates in more than 90 countries across the globe with a presence in Paris, London, Boston, and Singapore.www.keensight.com
Press contacts
Keensight Capital
Servane Taslé, Communications Director – stasle@keensight.com +33 (0)7 56 25 49 51
Headland Consultancy
Rowann Innes – rinnes@headlandconsultancy.com +44 (0)73 1137 0023
Isto Biologics
Jessica Kemp, Marketing Director - jkemp@istobiologics.com +1 (774) 230-7125
Why This Matters
Two Perspectives
MBA Lens: Economic and industry impact
Isto Biologics acquired NovaBone, a synthetic bone graft developer, strengthening its bone graft substitutes platform and expanding its market reach. This strategic move, backed by Keensight Capital, broadens Isto’s product portfolio with differentiated bioactive glass technologies, reinforcing its presence in key surgical end-markets and expanding its international footprint. The acquisition aims to establish Isto as a transatlantic leader in bone regeneration.
- The acquisition expands Isto’s ability to support surgeons with a wider range of bone graft options, reaching a broader customer base.
- It enhances Isto’s competitive position by adding new synthetic products and leveraging combined R&D and manufacturing strengths.
PhD Lens: Clinical and outcomes impact
Isto Biologics' acquisition of NovaBone integrates a portfolio of synthetic bone grafts based on proprietary bioactive glass technology. This technology is designed to promote accelerated bone growth, supported by over 20 years of clinical evidence. NovaBone's products have been utilized in over two million clinical applications across spine, orthopedics, foot & ankle, trauma, extremities, and dental procedures, validating their safety and efficacy.
- NovaBone's core technology involves proprietary bioactive glass, which facilitates accelerated bone growth for osseous defect repair.
- Clinical evidence spans over two decades and two million applications, demonstrating safety and efficacy across diverse surgical specialties.
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Discussion
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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