Cerapedics Announces Closing of Loan and Equity Financing

WESTMINSTER, Colo., April 7, 2015 /PRNewswire/ -- Cerapedics, a privately-held orthobiologics company, today announced closing of a $4 million term loan from GE Capital, Healthcare Financial Services, bringing the total facility to $16.5 million. The company also announced it recently raised an additional $4 million in equity financing from inside investors.

The funds will be used to advance the development of i-FACTOR™ biologic bone graft for which Cerapedics filed a Premarket Approval Application (PMA) with the U.S. Food & Drug Administration in September 2014. The company also plans to expand commercialization in markets outside the U.S.

"Our proprietary synthetic small peptide (P-15) technology met all four pre-specified primary endpoints in a pivotal clinical trial in anterior cervical discectomy and fusion (ACDF) procedures," said Glen Kashuba, CEO of Cerapedics. "This latest round of financing will help support our efforts to complete the PMA review process. If approved, i-FACTOR™ biologic bone graft would become the first cervical orthobiologic available in the U.S. market."

About Cerapedics

Cerapedics is an orthobiologics company focused on developing and commercializing its proprietary synthetic small peptide (P-15) technology platform. i-FACTOR™ biologic bone graft is the only biologic bone graft that incorporates a small peptide as an attachment factor to stimulate the natural bone healing process. This novel mechanism of action is designed to support safer and more predictable bone formation at a lower cost compared to commercially available bone growth factors. More information can be found at www.cerapedics.com.

CAUTION: i-FACTOR™ biologic bone graft is currently not approved for commercial use in any indication in the United States and is limited by U.S. Federal Law to investigational use only.

Media contact:
Adam Daley
Berry & Company Public Relations
212-253-8881
[email protected]

SOURCE Cerapedics

Related Links

http://www.cerapedics.com

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