Tech and healthcare giant GE (NYSE:GE) put some skin in Cerapedics and its i-FACTOR bone graft, funding a $9 million venture debt financing round for the Colorado-based company.
Cerapedics plans to use the funds to make progress toward the U.S market and to support "general business operations," the company said this month.
"With the recent presentation of our preliminary outcomes data for i-FACTOR Peptide Enhanced Bone Graft, we are pleased to announce closing of this loan agreement with GE Capital, which will position us to continue our progress toward U.S. regulatory approval and commercialization in the months ahead," president & COO Jeffrey Marx said in prepared remarks.
Cerapedics last month unveiled early results from U.S. clinical studies of its i-FACTOR product, a biologic bone graft that incorporates a small peptide designed to stimulate natural healing processes. The company says its novel spurs safer and more predictable healing at a lower cost compared with bone growth factors already on the market.
"We are looking forward to building a strong relationship with GE Capital and are excited to move
forward with their support," Cerapedics CEO Glen Kashuba said. "We are confident that the future for Cerapedics and for i-FACTOR Peptide Enhanced Bone Graft will be extremely auspicious."
