Lund, Sweden, 15.00 CET, 12th December 2017 – BONESUPPORTTM, an emerging leader in innovative injectable bio-ceramic bone substitute products to treat bone voids caused by trauma, infection, disease or related surgery based on its unique CERAMENT® platform, has opened new, enhanced facilities in Lund, as the Company continues to grow.
The new Lund-based offices offer brand new open-plan working space, laboratories with increased R&D capabilities for the 27 staff working on site, with room for our global colleagues, meetings, workshops and trainings. The move comes at an important time for BONESUPPORT as the Company continues to invest in generating clinical evidence highlighting the benefits of its products, deepening its sales and marketing capabilities, while developing its pipeline and strengthening its senior management team.
Speaking at the official opening of the facility, Richard Davies, CEO of BONESUPPORT, said: “The Company’s move into new, larger offices reflects our significant growth ambitions. We believe that the commercial opportunity for CERAMENT® G, in the management of bone infections, combined with the longer-term potential of our pipeline position BONESUPPORT to become a leading orthobiologics company globally. Our new offices will allow us to continue to recruit the talent we need to deliver our goals.”
BONESUPPORT is an innovative and rapidly growing commercial stage orthobiologics company, based in Lund, Sweden. The Company develops and commercializes innovative injectable bio-ceramic bone graft substitutes that remodel to the patient’s own bone and have the capability of eluting drugs directly into the bone void.
BONESUPPORT’s marketed bio-ceramic bone graft substitutes CERAMENT® BONE VOID FILLER (BVF), CERAMENT® G* and CERAMENT® V* are all based on the Company’s novel and proprietary CERAMENT technology platform.
The Company’s products are targeting a large addressable market opportunity across trauma, chronic osteomyelitis (bone infection), revision arthroplasty (replacement of a joint prosthesis) and infected diabetic foot.
BONESUPPORT’s total sales increased from SEK 41 million in 2014 to SEK 105 million in 2016, representing a compound annual growth rate of 60 percent. The Company’s financial target is to achieve revenue exceeding SEK 500 million in the financial year 2020, with a gross margin exceeding 85 percent and a positive operating profit.
The Company’s research and development is focused on the continuing development and refinement of its CERAMENT technology to extend its use into additional indications by the elution of other drugs and therapeutic agents. The Company currently has a pipeline of pre-clinical product candidates that have been designed to promote bone growth.
BONESUPPORT is listed on Nasdaq Stockholm and trades under the ticker “BONEX” (ISIN code: SE0009858152). Further information is available at bonesupport.com
*CERAMENT G: Not available in the United States, for investigational use only. CERAMENT V: Not available in the United States
BONESUPPORT™ and CERAMENT® are registered trademarks.
For more information contact:
Richard Davies, CEO
+46 (0) 46 286 53 71
Björn Westberg, CFO
+46 (0) 46 286 53 60
Citigate Dewe Rogerson
Pip Batty, David Dible, Shabnam Bashir
+44 (0)20 7282 1022