HELSINKI: Finland’s company Onbone Ltd has raised a total of €10 million in an investment round led by the global venture capital investment company MVM Life Science Partners in 2014. Other participants in the round were Finnish Industry Investment Ltd, a group of private Finnish investors and Inveni Capital, an existing investor in Onbone.
According to Onbone, the funds raised in the investment round will be used for the global launch of the company’s Woodcast casting and splinting products.
Woodcast is manufactured from wood material and biodegradable plastic. It is an eco-friendly composite material, suitable for all orthopaedic and traumatology uses, such as the casting and splinting of fractures and injuries. Patients can be imaged while still wearing the cast, which saves considerable time and expense at follow-up visits, according to Onbone. Woodcast has already been launched in several areas of the EU and will be expanding to new markets thanks to the successful investment round.
