Imperial spin-out BioCeramics raises £1.2M

Funding

BioCeramic Therapeutics, which is developing novel biomaterials for healthcare, has raised £1.2 million of new investment as it prepares to commercialise its products in 2010.

Imperial Innovations, the technology transfer arm of Imperial College London, has invested £300,000 and Longbow Capital, a new investor, has invested £400,000. Other investors in the round include existing shareholders Comvest Limited and the Esmee Fairbairn Foundation. In addition, Mark Rowan, a director of Imperial Innovations and a director of, and existing shareholder in, BioCeramic Therapeutics, has invested a further £20,000 in the round. This investment follows funding of £1.04 million in 2007.

BioCeramic Therapeutics has also recently appointed Stephan Rietiker as Chairman.

BioCeramic Therapeutics is developing bioactive materials for orthopaedic and dental applications. Its first products are scheduled for launch in 2010 and include bone graft substitutes that will help treat bone diseases and difficult fractures.

“This cash injection is a huge vote of confidence by our investors on BioCeramic Therapeutic’s ability to deliver. It will enable the company to move into its next phase and grow into a commercial, cash generating business,” says Rietiker.