a medtech startup has raised €3M in a Series A funding round lead by
META Zernike Ventures, our finance company specialized in the finance
for the innovation and creation of new companies, via our Ingenium Emilia-Romagna fund and Italian Angels for Growth (IAG),
the largest group of business angels in Italy active since 2007 in the
development of new businesses and with the contribution of some private
investors, both Italian and foreigners.
GreenBone Ortho srl, an
innovative startup according to the Italian law, was founded in March
2014 in Faenza (Emilia-Romagna) and is lead by Lorenzo Pradella -
Co-Founder and CEO&COO. The company wants to become a worldwide
leader for biomimetic by providing innovative and easy to use lifelike
inspired solutions that will help cure severe diseases.
develops a highly innovative wood derived bone implants technology, to
generate biomimetic – reabsorbable– load bearing implant suitable to
address severe high morbidity condition including non-union fractures,
through a breakthrough technology that foresees the realization of bone
implants derived from natural structures such as the wood, with
extraordinary regenerative properties and that are particularly suitable
to face the loss of considerable portions of long bones following
trauma or tumours, and other crises of the skeletal system.
high incidence of such damage often leads to significant impairments.
Thanks to technology developed by GreenBone, the body recognizes the
implant as its own, replacing it with true bone tissue. GreenBone's
first target is a clearly recognized unmet clinical need:
pseudoarthrosis or non-union fractures. It represents a highly valuable
niche market that can clearly demonstrate the properties of the new
scaffold allowing its application in most of the other orthopaedic
surgery market segments.
The idea was conceived and developed by a
research group of the ISTEC-CNR of Faenza (Institute of Science and
Technology of Ceramic Materials) composed by Andrea Ruffini, Simone
Sprio and Anna Tampieri (team leader). The technology involves the
processing of certain particular types of wood in an implant with the
same chemical composition of the bone preserving the ability of the wood
itself to bring weight.
GreenBone targets a high value market
segment with a smart one-shot solution. Team with 25 years experience
and remarkable bench-to-market record. GreenBone will complete
its development reaching clinical validation (POC) and will be suitable
for commercialization by the end of 2018 and then exit (2018-19) through
M&A with major industry players. The raised funds will be used to
continue to develop its platform, conducting clinical studies on
patients with bone damages, and obtain the CE mark.
META Zernike Ventures (MZV),
our holding company specializing in finance for innovation and new
businesses creation, is an Italian-Dutch joint venture between Zernike
Group and META, both having decades of experience in early stage
Since 1987, Zernike and META have managed more than 200
million euro for the seed and start-up financing, investing between
200,000 and 1,000,000 euro, in more than 200 companies and getting
returns higher than the European sector average with 100 exits.
Zernike Ventures manages, in Italy and abroad, seed funds and start-up
capital addressing entrepreneurs with global ambitions and local roots.
MZV consists of a team of professionals who provide investee companies
with an extensive network of contacts, advice for the procurement of any
additional financial resources, the identification of managerial and
professional expertise, and support service for accelerating the
commercialization of products through the available global network in
United Kingdom, Spain, Slovenia, Italy, USA and Argentina.
Source: Venture CapItaly