Locate Bio Secures £9.2 Million for Orthobiologics Research
Locate Bio, a Nottingham, UK-based orthobiologics company, recently announced the successful completion of a funding round, raising an impressive £9.2 million. The round was led by Mercia Ventures and BGF, showcasing the strong interest and support from investors in the company's mission. The funds raised will be instrumental in furthering the clinical study of LDGraft, a groundbreaking bone graft substitute designed for spinal fusion.
Under the leadership of CEO John von Benecke, Locate Bio is dedicated to driving medical innovation and revolutionizing patient care.
The company's innovative approach combines cutting-edge research in advanced drug delivery systems with a proprietary protein encapsulation method. This unique combination allows Locate Bio to deliver a therapeutic protein known as rhBMP-2 effectively. LDGraft, which incorporates this technology along with an osteoconductive scaffold, has already received a breakthrough device designation from the US FDA in 2023.
CEO John von Benecke expressed his excitement about the recent funding round, emphasizing the strong investor confidence in the company's vision and the potential of LDGraft to become a leading bone graft substitute on a global scale. With this infusion of capital, Locate Bio is well-positioned to advance its clinical research and continue its mission of transforming patient outcomes through innovative orthobiologics solutions.
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