Bone Health Technologies Raises $2.5M In New Funding Round, Adds 3 Members To Board
Bone Health Technologies, a MedTech company focused on treating osteoporosis, announced the completion of a new funding round and the appointment of new board members.
Funding Secured: San Francisco, California-based Bone Health said it has closed a $2.5 million funding round. The company noted the funding was oversubscribed.
Good Growth Capital led the funding round with other participants including Astia Angels, Ambit Health Ventures, Portfolia Femtech Fund, IT-Farm, Golden Seeds, Berkeley Angel Network, the Band of Angels, and Reno Seed Fund, as well as prominent individual Angel Investors.
"We have been involved with Bone Health Technologies since the early proof of concept stage and are thrilled to lead this investment round — the unmet need and hence the business opportunity is enormous," said John Osborne, managing partner of Good Growth Capital.
Bone Health's OsteoBoost has a breakthrough therapy designation from the FDA. OsteoBoost, according to the company, is the first vibration belt specifically designed for the prevention of osteoporosis.
It is based on NASA research which proved that medical stimulation of bones through vibration would improve bone health in astronauts.
Board Beefed Up Bone Health also announced the appointment of Karen Drexler, Nancy Lynch and Sam Goldberger to its board.
Drexler, a founding member of Astia Angels, is also a board member at ResMed Inc. RMD (0.36%), Outset Medical Inc (OM 1.31%), Tivic Health and VIDA Diagnostics. Goldberger has more than 28 years of surgical experience and Lynch has a wealth of knowledge in clinical and business elements of orthopedics.
"Our mission is to provide an effective and safe treatment for the more than 40 million Americans with low bone density — this capital and the expertise we are bringing to bear is exactly what we need to complete our pivotal trial and bring this important innovation to market," said Laura Yecies, who took over as Bone Tech CEO in early April. She has a blend of technology and medical experience and knowledge of the women's health market.