CeraPedics Closes $12.25M PE Financing

CeraPedics (Lakewood, CO) developing products for the orthopedic bone substitute market announced the close of a $12.25M private equity financing from OrbiMed Advisors. The Company’s products utilize a proprietary small peptide called P-15™. This peptide has been identified to play a role in initiating the formation of bone. CeraPedics’ products may provide a safe, efficacious, and economical alternative to autograft and recombinant bone growth factor products for most procedures requiring a bone graft including spine fusion, trauma, and joint reconstruction. CeraPedics’ first product, P-15 Putty, is currently under an Investigational Device Exemption (IDE) clinical investigation for FDA regulatory approval.

CeraPedics: The Science of Bone Repair

CeraPedics, LLC was founded in 2000 to commercialize a proprietary technology for osteosynthetic bone substitute products and implant coatings that employ the Company's small peptide P-15™ technology to facilitate bony fusion in orthopedic procedures. P-15 is a synthetic peptide analogous to the cell-binding domain of Type-I collagen. P-15 products create an ideal environment for bone growth by initiating the chain of cellular events encouraging natural production of the body's own growth factors leading to osteosynthesis. The Company's first product, P-15 Putty, is currently pursuing PMA approval from the US FDA. CeraPedics submitted its clinical trial protocol for this product to the FDA in mid-2005. Dr. Andrew J. Tofe is the Company's President and CEO, having led CeraMed Dental to develop and bring to market several oral bone substitute products and then selling the company to Dentsply. As of July 2005, CeraPedics has received funding of over $2 million.