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Read the latest news about TeknoSeed and its portfolio companies.

2015-04-15  Bonesupport closes $14 million in funding

Lund, Sweden, (PRNEWSWIRE) April 15, 2015 – BONESUPPORT, an emerging leader in injectable bone substitutes for orthopedic trauma, bone infections and instrument augmentation related to orthopedic surgery, today announced that it has closed a $14 million round of funding. The round was led by a new investment from a major Scandinavian Pension Fund, with additional participation from existing investors. The funds will be used to continue to grow global sales and marketing and accelerate expansion of the CERAMENT™ platform, especially as it relates to new drug delivery products and market opportunities.
“The drug eluting properties of CERAMENT™ has the potential to change the standard of care in the management of bone infections and joint replacement surgery,” said Lloyd Diamond, CEO of BONESUPPORT. “We are uniquely positioned to address an unmet clinical need and this additional funding will help us quickly expand our product offerings and accelerate market penetration.” 
BONESUPPORT’s flagship offering is CERAMENT™, a synthetic bone substitute clinically proven to remodel into bone within 6-12 months. The global bone graft and substitutes market is valued at $2.1 billion. CERAMENT™|G is the first CE-marked injectable gentamicin antibiotic eluting bone graft substitute indicated to promote and protect bone healing in the management of osteomyelitis. Osteomyelitis (bone infection) represents a $1.7 billion market.  Emerging prosthetic infections, diabetic foot ulcers, war injuries, high-energy trauma and sports injuries, combined with an increasing resistance to antibiotics; fuel the need for more effective therapeutic solutions.
“We are excited that a new cross-over investor from one of the largest Scandinavian pension funds was a major investor in this round. They have high confidence that BONESUPPORT’s proprietary drug eluting technology will create unprecedented new opportunities in the management of bone infections caused by disease, trauma or revision surgery,” said Mr. Diamond.
“We have a truly disruptive technology with CERAMENT™.  Our aim is to open a whole new way of delivering medicines that have the potential to transform outcomes,” said Oern R. Stuge, M.D., Executive Chairman of BONESUPPORT.  “Today’s announcement represents a significant vote of confidence in the CERAMENT™ platform by our new as well as by our long-terms investors.”

2015-01-29  Airec successfully completes second financing round
Airec, leading developer and manufacturer of highly efficient, compact and cost-effective plate heat exchangers, secures additional equity from existing investors led by Innogy Venture Capital. The second financing round, totally close to 20 million SEK (around 2.1 million Euros), supports further company growth and new innovative product lines.
Swedish company Airec AB provides their customers with compact, efficient and cost-effective liquid-to-gas plate heat exchangers. The innovative asymmetrical plate heat exchanger designs have proven outstanding customer value in several applications compared to state of the art technology. Shifting to Airec’s technology can lead its customers to energy savings and CO2-emissions reductions of up to 35 per cent. The Malmö-based company has now secured close to 20 million SEK (approximately 2.1 million Euros) for the financing of its rapid global expansion. This will be focused on sales to original equipment manufacturers (OEM) and joint projects with international companies to integrate Airec’s technology into their high volume products. Furthermore, Airec aims to start the commercialisation of a new innovative product line suitable for new applications and markets. The second financing round has been led by Innogy Venture Capital. Other existing investors, like Swedish investment funds Industrifonden and TeknoSeed, as well as the founder and the chairman of Airec, have also participated in the capital increase.
Sven Persson, founder and CEO of Airec, commented: “We are delighted about the successful closing of the financing round and the trust of our investors. After a successful year 2014 with positive EBITDA and sales growth over 60 per cent in our brazed plate heat exchanger product lines, the funding will enable Airec to continue the global sales growth and to even better support its customers and partners with innovative heat exchangers that make a difference.”
Airec’s heat exchangers can extract and transfer heat much more efficiently than conventional products. Due to their very compact and space-saving design, they can be integrated into various types of energy systems. Airec’s products are, for example, ideally suited for the use in small decentralised combined heat and power plants (CHP plants) as well as for excess heat recovery systems.
Crispin Leick, Managing Director of Innogy Venture Capital, explained: “Since the first investment round in 2011 Airec has developed into a technology leader in innovative heat exchanger design and has not only developed new solutions but also successfully integrated them into OEM products. The Airec team, led by the founder Sven Persson, has convinced us with strong sales growth in innovative product lines and achieved market leadership in small decentralised CHP applications. We are very much looking forward to participate in – and support – Airec’s activities to create international paradigm changes in different applications with its technology.”

2012-06-14  Nokia to acquire developers, technologies and intellectual property for imaging from Scalado

Sweden: Scalado is announcing plans under which Nokia would acquire world-class imaging specialists as well as all technologies and intellectual property from Scalado AB.“This is a great opportunity for many of our people to show their leadership in imaging and to continue to build its future,” said Håkan Persson, chief executive officer of Scalado AB. “Doing this as part of Nokia, already a leader in mobile imaging, will reinforce the strength of the technologies and competences developed at Scalado. We are very excited about this opportunity, which is a natural next step in our longstanding relationship with Nokia.”

The Lund site is planned to become a key site for Nokia’s imaging software for smartphones.

Scalado AB will continue to exist. All present customer agreements and obligations will remain with Scalado AB. The main task of Scalado AB will be to continue to work with our customers honoring our delivery and support obligations and fulfill any and all obligations in relation to its existing customers.

“We are very pleased to have signed an agreement with Nokia” said Anders Lidbeck, Chairman of the Board of Scalado AB. “We believe that this not only creates value for Scalado employees and shareholders but also ensures the future development and use of the Scalado heritage and technology”

The transaction, which is subject to customary closing conditions, is expected to close during the third quarter of 2012. The terms of the transaction are confidential

2015-04-15  Bonesupport closes $14 million in funding
2015-01-29  Airec successfully completes second financing round
2012-06-14  Nokia to acquire developers, technologies and intellectual property for imaging from Scalado

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