The investment comprises of $734k from NetScientific’s balance sheet and $266k in advised funds from the group’s corporate finance and venture capital subsidiary EMV Capital Ltd.
The funding will take EpiBone through to a scale-up round expected in late 2022, and enable the company to accelerate the development of its pipeline.
The company’s bioreactor technology is the product of 20 years of research and experience with orthopaedic tissue engineering, resulting in a three-step process to regenerate human bone.
Its lead bone product (EB-CMF), a potential treatment for ramus continuity defects in the mandible, is now in Phase 1 human trials. The first step involves a CT scan to determine the exact 3D size and shape of the bone needed for the defect being treated, together with the extraction of adult stem cells.
The second stage involves the creation of a precise, personalised scaffold of the required bone, and the design and construction of a custom bioreactor that will incubate the new bone as it grows.
The final stage involves infusion of the stem cells into the scaffold and growth inside the bioreactor where they are remodelled into a personalized bone graft ready for implantation.
Dr. Ilian Iliev, CEO of NetScientific said: “We see EpiBone as an emerging leader in the regenerative medicine space, which is now coming of age.
“Its platform technology has the potential to transform the bone and cartilage space by making implants from patients’ own cells across multiple applications.
“This is another example of NetScientific’s judicious investment approach to build stakes in businesses, and supporting its Trans-Atlantic model, as it accelerates the portfolio company growth to deliver superior investment returns.”