OrthoMimetics Raises Series A Financing
BY DAVID KRESSEL, DECEMBER 6, 2006
OrthoMimetics announced it has completed a Gbp5 million Series A raise. Participants include Oxford Capital Partners, Schroders Investment Management, and Sloane Robinson Private Equity, as well as clients of Eden Financial, the placement agent. Joining the board will be Heidi Hsueh of Sloan Robinson and Dr. Martin Hall of Eden Financial.
OrthoMimetics is developing cartilage and ligament repair products based on biological material scaffolds. It is a spinoff from the Cambridge-MIT Institute, a joint venture between those two universities. Its product is similar to OsteoBiologics Inc. (OBI), which recently was bought by Smith & Nephew for $72 million earlier this year.
