The Series B financing will be used to accelerate the company’s investment in sales and marketing to meet the demand for i-FACTOR products outside the US as well as continue to fund ongoing FDA clinical trials in the US for spinal applications and other indications of i-FACTOR technologies under development.
Andy Handwerker, COO at Cerapedics, said: “This is a solid validation of our position to be perhaps the second premarket application approved osteobiologic product to address the spine market and the first to be indicated for use in the cervical spine.
“Along with the CE Mark we received last year, the proceeds from this financing will also allow us to grow sales strategically outside the US while gathering data from numerous clinical studies for a variety of indications.”