- Posted by Sirakoss
- On December 12, 2014
- 0 Comments
SIRAKOSS Ltd. has secured $4.8m (£3.1m) in Series-A financing from a syndicate of investors led by Epidarex Capital. Other syndicate members include the Scottish Investment Bank, the investment arm of Scottish Enterprise, and the London-based Worshipful Company of Armourers & Brasiers plus existing shareholders.
This equity investment also secures a further £940,000 Biomedical Catalyst award from Innovate UK (formerly known as the Technology Strategy Board), which was previously awarded to SIRAKOSS in a competitive funding programme and was subject to matching investment.
Brian Butchart, CEO of SIRAKOSS commented, “We are delighted to have closed this investment with Epidarex Capital as this validates the company’s belief in its outstanding and highly differentiated synthetic bone graft technology and the clearly defined commercial opportunity that this represents within a $2.5bn global market.
This investment will enable SIRAKOSS to complete product development and to implement its regulatory strategy for both the European and US markets”. Sinclair Dunlop, Managing Partner at Epidarex Capital stated “Epidarex is delighted to be leading the current financing of SIRAKOSS. The company’s core technology offers several novel and potentially disruptive applications in the global synthetic bone graft market. We are very excited about the company’s prospects”.