OssDsign buys bone grating solutions provider Sirakoss

OssDsign has acquired UK-based Sirakoss, a developer of bone grafting solutions for surgeons, for a cash consideration of $11 million.

OssDsign has acquired UK-based Sirakoss, a developer of bone grafting solutions for surgeons, for a cash consideration of $11 million. Sirakoss was backed by Epidarex Capital.

PRESS RELEASE

Bethesda, MD, USA, and Edinburgh, UK; November 3rd, 2020 – Epidarex Capital (“Epidarex”), a transatlantic life science venture firm, is pleased to announce its second value realisation this quarter with the acquisition of its portfolio company Sirakoss by OssDsign, a Swedish medtech company, for an initial cash consideration of USD 11 million plus milestone and royalty payments.

Sirakoss has successfully developed Osteo3 ZP Putty, a nanosynthetic bone graft substitute to facilitate bone repair, which recently received 510(k) marketing clearance from the US Food and Drug Administration (FDA). Osteo3 ZP Putty has been designed to provide surgeons with an innovative and easy-to-use product for filling voids during spine and trauma bone grafting procedures. The product complements OssDsign’s craniomaxillofacial portfolio and commercial activities in the US are expected to begin immediately.

Epidarex Capital led the 2014 Series A and subsequent financings of Sirakoss following its spin-out from the University of Aberdeen.

In October, the lead program of Epidarex Capital portfolio company Enterprise Therapeutics, a novel and potentially universal approach to treating cystic fibrosis, was acquired by Roche in a deal that included a £75 million upfront payment with additional milestone payments.

Enterprise will continue with its development of other novel therapies to improve the lives of patients suffering with respiratory disease. Epidarex was the founding investor in Enterprise in 2015 and was instrumental in shaping the business strategy with its scientific founders and management.

Sinclair Dunlop, Managing Partner at Epidarex, said: “We are proud to have been part of the Sirakoss success story and are excited that under the ownership of OssDsign Osteo3 ZP Putty will be made available to surgeons and patients. This is our second successful investment exit this quarter, adding to our strong track record of creating companies with the potential to transform patients’ lives and generate competitive investor returns. It is rewarding to see the success of our differentiated approach to building companies from world-class life science research in emerging hubs.”

About Epidarex Capital
Epidarex Capital is a transatlantic venture capital firm with a track record of building exceptional life science companies in emerging hubs in the US and UK. Epidarex’s experienced team of early stage investors partner with entrepreneurs and leading research institutions to transform world-class science into highly innovative products addressing major unmet needs in the global healthcare market. For more information visit www.epidarex.com