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Graftys, a French biotech startup has a range of raw materials which can replace human bones and today it has announced the completion of a €4.1M funding round. The funding round was co-led by GO Capital (Rennes, France), Innovation Fund (Brussels, Belgium), Meusinvest (Liège, Belgium) and TheClubDeal (Brussels, Belgium).
The development of its operations took place in Belgium and the reinforcement of its French operations with the creation of a design and industrialisation unit in Nantes. Founded in 2005 on the research works of Pr. Jean-Michel Bouler, Graftys develops, manufactures and markets patented synthetic orthopedic biomaterials, in particular, new generations of resorbable calcium-phosphate cements, for reconstructive orthopedic surgery.
Within the 3 million annual procedure bone graft market, the bone cement market is one of the fastest-growing. The Company’s key products – Graftys Quickset fast setting/high viscosity and Graftys HBS lower viscosity/high injectability cements – are commercialized in more than 25 countries, including Europe and the United States of America, through distribution partnerships.
The purpose of funding raised
The objective of this financing round is to support the company’s global reinforcement by (i) building new commercial/business development, clinical/regulatory and production capabilities in Wallonia (Belgium), (ii) by reinforcing cement bulk production in Aix-en-Provence (France) and (iii) strengthening its design and industrialization activities by setting up a new unit in Nantes (France).
It will also support the development of its existing activities especially in key markets such as Europe and USA, the market entry into new high-potential territories such as Asia (China, Japan…) where the company is not present yet and the expansion of the Company product lines by offering new versions of existing products and new products with enhanced regenerative properties.
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