Finnish biomaterials company Inion have secured $15 million in series B funding. The main contributors were Healthcap, Capman AB and POD Holdings all of Sweden. First round financiers Bio Fund of Finland and Bank von Ernst of Switzerland along with other Finnish institutions also participated in the second round funding.
The new involvement brings financial acumen and business development potential to the table as well funding. The new funding will be used to continue building of their global marketing infrastructure including direct sales forces in Europe and the USA.
The new funding will also enable them to focus on their next area of products, orthopaedics. In this area they will accelerate research into bioactive materials for use in second generation hybrid products.
For more information on biomaterials click here.