Bone Biologics is developing a proprietary protein for use in bone regenerative medicine using a patented human recombinant protein known as UCB-1 (or Nell-1) for use in patients undergoing spinal fusion.
Michael Schuler, CEO of Bone Biologics, said, “We are pleased with the completion of this funding round, which will allow the company to continue the process development leading to the production of Nell-1 in preparation for human clinical trials to validate bone regenerative medicine technology. ”
Bone Biologics has developed a bone growth factor, Nell-1, in partnership with the University of California, Los Angeles (UCLA) and the Musculoskeletal Transplant Foundation (MTF), as a more specific alternative to other bone growth factors currently used in health care. In large animal studies, Nell-1 showed no side effects currently associated with other bone growth factors, including ectopic bone growth, extraneous bone growth, or cyst formation. The next phase will be the completion of the development and testing work needed to seek regulatory approval for the initial pilot study in human clinical trials.
Bone Biologics Board Chairman Bruce Stroever said, ‘We are very pleased that funding has been secured to complement the initial funding provided by the MTF. This brings the total funding from Hankey Capital to $7 million, and we are pleased with their increased commitment to this exciting venture. The technology discovered by UCLA and developed by Bone Biologics has the potential to make a significant difference in the lives of patients, dramatically improving spinal fusion while controlling healthcare costs. ‘Mr.’ Stroever is the Chairman and CEO of MTF.
About Bone Biology
Bone Biologics was founded by professors at the University of California, Los Angeles, in collaboration with Osaka University professor and USC surgeon in 2004. Formed to pursue bone regenerative medicine, the company currently has the Musculoskeletal Transplant Foundation, the nation’s leading tissue bank, and Orthofix, the leading global medical device company, as its strategic partners. Bone Biologics is currently focused on bone regeneration in spinal fusion using a recombinant human protein known as Nell-1. Nell-1 is an orthobiologic osteoinductive; a recombinant protein that controls bone regeneration. This patented technology has been licensed exclusively to Bone Biologics by UCLA.
Visiting: www Bone biology Come on,
On the MTF
The Musculoskeletal Transplant Foundation, a non-profit organization based in Edison, NJ, is a national consortium made up of leading organ procurement organizations, tissue recovery organizations and academic medical institutions. Since its inception in 1987, MTF has received tissue from more than 100,000 donors and distributed more than five million transplant grafts.
Visit: www for more information Matter Organ
Hankey Capital, LLC
Hankey Capital, LLC, a member of the Hankey Group of Companies, is a private equity company based in Los Angeles, California. The Hankey Group of Companies is one of the largest subprime auto finance lending organizations in the United States and provides a wide range of equity and debt capital solutions to emerging growth companies, as well as the creation and management of a $300MM auto and real estate asset finance portfolio.
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