Promimic

Venture capital for market introduction of synthetic bone

Pressmeddelande   •   Feb 09, 2011 10:49 CET

The Swedish company Promimic has, by using nanotechnology, succeeded in producing a surface that can cut the healing period for implants in half. The company has attracted over 1.1 million Euro in venture capital in order to introduce a nanometer-thin implant coating technology based on synthetic bone.

The investors include Almi Invest, Karolinska Development and several business angels.

“We are very pleased to have new owners in terms of ALMI Invest that has invested together with Sätila Medtech and a number of business angels. In addition, existing owners, like Karolinska Development and Innovationsbron, continue to invest in the company” says Ulf Brogren, CEO of Promimic.

Promimic’s product, HA NANO™ Surface, represents a new generation of implant surfaces based on synthetic bone. The innovation has successfully been evaluated in several preclinical studies in collaboration with world-leading independent researchers. The company is now ready to move into a more expansive phase, with increased global market presence.

“Promimic is an exciting company that has convincingly demonstrated that its products could provide significant benefits for both patients and implant companies” says Anna Langenius, Investment Manager at Almi Invest. “It can make a huge difference, socio-economically and for the patient's quality of life, to be able to resume normal function one or several months faster. As for the implant companies, Promimic’s surface will help to make their own products more competitive” Anna Langenius continues.

The unique surface coating is based on a patented innovation developed by researchers at Chalmers University of Technology in Gothenburg. The nanometer-thin surface is based on hydroxyapatite (HA), a calcium phosphate compound found in human bone tissue. The unique technology provided by Promimic allows the synthesis of nanocrystalline HA particles a substance (hydroxyapatite, HA), which by size, shape, structure and chemistry resembles that of the living bone tissue. The similarity to human bone helps the body’s own bone cells grow on the implant. In addition, is the HANANO™ Surface very thin (20 nanometers) and covers the total implant surface, even on porous implant materials.

Further information

Promimic, Ulf Brogren, CEO, ulf.brogren@promimic.se +46 31 7728022, www.promimic.se

Almi Invest Västsverige AB, Anna Langenius, Investment Manager, anna.langenius@almiinvest.se +46 317792102, www.almi.se

About Almi Invest

Almi Invest creates opportunities for entrepreneurial growth companies to grow by investing capital and expertise, on a regional basis and together with other stakeholders in the venture capital market. Almi Invest is organized into seven regionally based venture capital funds, where Almi Invest West Sweden AB is one, and is owned by Almi, together with regional actors. www.alimi.se

About Karolinska Development

Karolinska Development manages one of the largest portfolios of life science companies in Europe. Since its inception in 2003, Karolinska Development has built a diversified portfolio of highly innovative life science companies. Among the company's projects, 12 candidate drugs are undergoing clinical development. www.karolinskadevelopment.com

Promimic is a Swedish biomaterial company that develops and markets a unique implant surface which has shown to dramatically accelerate osseointegration. The modification can be applied onto various types of substrates, including metals, ceramics and polymers. As a conclusion, the innovation can convert any implant surface, regardless of its dimensions and structure, to a surface that to great extent resembles that of natural human bone tissue.