Locate Bio is a pioneering UK orthobiologics company and a spin-out from the University of Nottingham. Its lead product, LDGraft, is a bone graft substitute that uses a proprietary protein encapsulation method to deliver rhBMP-2 together with an osteoconductive scaffold. LDGraft received U.S. FDA breakthrough device designation in 2023. The company completed an oversubscribed £9.2 million funding round from new and existing investors, including Mercia Ventures and BGF; proceeds will fund the RESTORE randomized clinical study in single-level anterior lumbar interbody fusion. Locate Bio says the RESTORE trial is a key step toward regulatory approval and broader clinical adoption to address debilitating back pain in an ageing population. The company is backed by Mercia Ventures and BGF and aims to advance its orthobiologics platform to address a wide range of musculoskeletal needs. Locate Bio is an orthobiologics company developing a proprietary regenerative medicine pipeline including synthetic grafts and controlled-release biologics. Its lead product, LDGraft, is a low-dose, controlled-release rhBMP-2 spinal fusion product for degenerative disc disease. The portfolio also includes CertOss (synthetic graft substitutes), CognitOss (responsive antibiotic-releasing resorbable bone graft for osteomyelitis) and Chondro3 (a three-layer biomimetic cartilage repair graft). The company in-licensed multiple late-stage orthobiologics assets from the Royal College of Surgeons in Ireland in September 2020 and is a spin-out from the University of Nottingham. Locate Bio has received two FDA breakthrough device designations for CognitOss and Chondro3, supporting its regulatory pathway. The recent funding will be used to advance clinical and regulatory milestones and move products toward patients over the next two years. The company has raised over £18 million in total to date, including the latest round. Locate Bio is a Nottingham, UK–based biotech focused on treatments for debilitating spinal conditions. The company closed a £2.25m funding round led by Mercia Asset Management, bringing total funding to over £8m. It intends to use the proceeds to continue research and bring its first products to market. Its first product is at the pre-clinical stage and aims to help patients requiring spinal fusion surgery by using a bone protein to remove the need for a bone graft. A second therapy in development targets biological renewal of intervertebral discs to treat degenerative disc disease, a condition affecting 33 million people in the US and EU. Locate Bio is a University of Nottingham spin-out based on the research of Professor Kevin Shakesheff. The company initially began as a contract research organisation and first received investment from Mercia in 2018. Locate Bio is a specialist regenerative medicine and medical device company based in Nottingham that has developed the TAOS® drug delivery system and associated IntraStem gene‑editing technologies. Its lead product is a treatment for osteomyelitis, developed in partnership with a major European medical device developer. The company is also developing a product to precisely control bone growth, targeting a reported $7.0 billion worldwide market. Mercia Technologies made a direct investment of £0.5 million to expand Locate’s existing product portfolio and pursue new product opportunities using IntraStem. Mercia’s funds are intended to enable key preclinical studies to help consolidate Locate’s position as a next‑generation cell and gene therapy company. The global regenerative medicine market is cited at $20.0 billion with a forecasted CAGR of 26.0%. Following this direct investment Mercia holds a 6.0% equity stake in Locate, and the investment follows an earlier commitment from Mercia’s third‑party managed funds.

Total raised

$29M

Funding rounds

4

Latest round

Equity

Latest activity

Apr 2024