GreenBone Ortho SpA develops bio-inspired, off-the-shelf 3D bone grafts built from natural wood-derived scaffolds incorporating resorbable nano-crystalline hydroxyapatite, beta-tricalcium phosphate, magnesium and strontium. The cell-free, growth-factor-free scaffold is highly porous and has demonstrated the ability to drive de novo bone mineralisation at ectopic sites; two international clinical studies are ongoing and a CE-mark was granted in December 2019 for a portfolio addressing large segmental bone defects. The company plans to use the new funding to expand clinical indications such as spinal and maxillofacial surgery, build a new production line, and support the market launch of the approved product. GreenBone has raised EUR22 million in equity since its 2015 founding in Faenza, Italy, including the EUR10 million Series B just closed. The technology aims to offer an alternative to traditional bone grafts and transplants by mimicking natural bone chemistry and 3D architecture to improve outcomes for large bone replacements. Management and the new board include experienced investors and industry executives who will support clinical and commercial roll-out. GreenBone, founded in 2014 and based in Faenza, Italy, develops a patented wood-derived, biomimetic and resorbable scaffold for bone regeneration targeting long-bone non-unions, spinal damage, trauma and cancer-induced bone loss. Its core product is a bio-inspired bone implant designed to regenerate functional bone and reduce healthcare and social costs for patients with severe skeletal damage. The company has completed pre-clinical studies in cooperation with Assaf-Harofeh Hospital and the Rizzoli Orthopedic Institute and holds granted patents in the USA, EU, China and other countries with a PCT application pending. GreenBone intends to complete clinical development in load-bearing long-bone defects and pursue CE marking, while also conducting pre-clinical development for additional skeletal applications. Financially, the company closed a €3 million seed round in 2015 and has secured a €2 million investment from Helsinn Investment Fund as part of a wider fundraising. Management is described as experienced and having advanced multiple orthopedic products from bench to market. GreenBone develops a wood-derived bone implant technology designed to generate biomimetic, reabsorbable load-bearing implants suitable for addressing non-union fractures. The implant concept was conceived and developed by a research group at ISTEC-CNR (Andrea Ruffini, Simone Sprio and Anna Tampieri). The company plans to continue platform development, run clinical studies on patients with bone damages and obtain the CE mark. GreenBone is an Innovative Startup under Italian law. In its first venture capital funding the company raised €3m to support those development and regulatory efforts. The company was founded in 2014 and is based in Faenza, Italy.

Total raised

$18M

Funding rounds

3

Latest round

Series B

Latest activity

Apr 2021