Revolutionizing Orthobiologics: Locate Bio's Funding Success
May 4, 2024, 9:32 am
Location: United Kingdom, England, Nottingham
Employees: 11-50
Founded date: 2001
Total raised: $28.18M
Locate Bio, an orthobiologics company based in Nottingham, UK, recently secured a whopping £9.2 million in funding. This funding round, led by Mercia Ventures and BGF, marks a significant milestone in the company's journey towards transforming patient care and revolutionizing the field of orthobiologics.
Locate Bio's innovative approach combines decades of research in advanced drug delivery systems with a proprietary protein encapsulation method to deliver a powerful therapeutic protein known as rhBMP-2. This groundbreaking technology is integrated into LDGraft, a bone graft substitute designed for spinal fusion, which received a coveted FDA breakthrough device designation in 2023.
CEO John von Benecke expressed his excitement about the funding round, stating, "This oversubscribed funding round underscores the significant investor confidence in the company's vision and the potential of LDGraft to become the most relied-on bone graft substitute globally." With a focus on relieving suffering and restoring the quality of life for patients with orthopedic conditions, Locate Bio is on a mission to make a lasting impact in the healthcare industry.
The company's commitment to innovation and patient care has garnered support from investors like Mercia Ventures and BGF, who believe in Locate Bio's potential to revolutionize orthobiologics. Jonathan Earl from BGF praised Locate Bio's progress, stating, "Their approach represents a significant breakthrough in this field, and we look forward to providing continued support as the company moves through clinical trials towards regulatory approval."
As the global population ages and the demand for effective orthobiologic solutions grows, Locate Bio's cutting-edge technology and world-class team position them as leaders in the field. Investors like Alex Gwyther from Mercia Ventures have long believed in Locate Bio's mission and are excited to see the progress the company has made in developing next-generation orthobiologics that can transform patients' lives.
With the successful completion of this funding round, Locate Bio is poised to accelerate its clinical study of LDGraft through the RESTORE trial, bringing them one step closer to realizing their ambition of providing innovative solutions for musculoskeletal needs. As the company continues to push boundaries and push towards regulatory approval, the future looks bright for Locate Bio and the patients they aim to serve.
Locate Bio's innovative approach combines decades of research in advanced drug delivery systems with a proprietary protein encapsulation method to deliver a powerful therapeutic protein known as rhBMP-2. This groundbreaking technology is integrated into LDGraft, a bone graft substitute designed for spinal fusion, which received a coveted FDA breakthrough device designation in 2023.
CEO John von Benecke expressed his excitement about the funding round, stating, "This oversubscribed funding round underscores the significant investor confidence in the company's vision and the potential of LDGraft to become the most relied-on bone graft substitute globally." With a focus on relieving suffering and restoring the quality of life for patients with orthopedic conditions, Locate Bio is on a mission to make a lasting impact in the healthcare industry.
The company's commitment to innovation and patient care has garnered support from investors like Mercia Ventures and BGF, who believe in Locate Bio's potential to revolutionize orthobiologics. Jonathan Earl from BGF praised Locate Bio's progress, stating, "Their approach represents a significant breakthrough in this field, and we look forward to providing continued support as the company moves through clinical trials towards regulatory approval."
As the global population ages and the demand for effective orthobiologic solutions grows, Locate Bio's cutting-edge technology and world-class team position them as leaders in the field. Investors like Alex Gwyther from Mercia Ventures have long believed in Locate Bio's mission and are excited to see the progress the company has made in developing next-generation orthobiologics that can transform patients' lives.
With the successful completion of this funding round, Locate Bio is poised to accelerate its clinical study of LDGraft through the RESTORE trial, bringing them one step closer to realizing their ambition of providing innovative solutions for musculoskeletal needs. As the company continues to push boundaries and push towards regulatory approval, the future looks bright for Locate Bio and the patients they aim to serve.