Executive director Geoff Pocock of Osteopore said the $8.5m fundraising for the company had attracted top-tier institutions onto its share register, as well as high net worth individuals, and had been well supported.
“The bulk of the funds from the share raising is going into business development to drive revenue generating opportunities for the company and to expand into the next generation of products,” Pocock said.
The company recently brought on board a distributor in the US market, and the cash injection will allow Osteopore to increase its technical and educational support to its distribution sales teams.
Osteopore has focused on serving the cranio-maxillo, or face and skull market, but it is now looking at dental and spinal markets for its next generation of regenerative bone technology products.
“We are planning clinical trials for our next generation of applications and we want to use Osteopore technology in the dental and spinal markets,” Pocock said. The company has commericalised products engineered to facilitate bone healing, including its patented technology that fabricates specific micro-structured scaffolds for bone regeneration through 3D printing and bioresorbable material.
Osteopore’s patent-protected scaffold technology is made from proprietary polymer formulations that naturally dissolve over time to leave only natural bone tissue. This approach significantly reduces post-surgery complications associated with permanent bone implants.
Osteopore International Pte Ltd, also earlier revealed new data that demonstrates the long-term safety and efficacy of Osteoplug, a 3D printed bioresorbable polycaprolactone (PCL) bone graft implant, that enables the regeneration of a patient’s skull bone tissue to cover and protect burr holes created during brain surgery or tumour biopsy. After healing is complete, no foreign material is left behind in the skull.