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osteolabs GmbH recently announced the successful completion of the second round of approximately EUR 1.6 million in funding.
FREMONT, CA: osteolabs GmbH has announced the successful completion of a second round of approximately EUR 1.6 million in funding. The funds were made available as new shareholders by Seed and Start-Up Fonds II of MBG (MittelständischeBeteiligungsgesellschaft) Kiel, LaborDr. Krause &Kollegen MVZ GmbH, Kiel, and SVM VerwaltungsgesellschaftmbH, Hamburg.
On the one side, the funds raised will be used to support osteolabs GmbH's continue their geographical expansion in the countries of Scandinavia, BENELUX, Switzerland, and Austria. The money would, on the other hand, will be utilized to extend the current laboratory facilities further.
Dr Bernd Buchholz, Minister of Economic Affairs of the Federal State of Schleswig-Holstein, summarised: "osteolabs is a good example of a successful and innovative start-up which has been successful to date and which the state is supporting with its financing instruments in a tailor-made way on the road to economic implementation and further development. This makes osteolabs one of a total of 67 companies that have so far been actively supported on their way into the market by the Schleswig-Holstein Seed and Start-up Fund II".
Lucas Murmann, the investment manager of SVM, explains: "We have invested in this innovative biotech company because we are convinced that the OsteoTest procedure offers significant added value for patients and doctors in the treatment of osteoporosis. This disruptive procedure has great market potential worldwide and we want to support its market penetration".
"Since the company was founded, we are experiencing a continuous increase in orders, both from end customers and from medical practices," says Managing Director Dr Stefan Kloth happily. "This shows us that we are on the right track. After the successful roll-out in pharmacies throughout Germany, the OsteoTest is now also available to end consumers and can therefore be purchased not only online but also on site".
The revolutionary OsteoTest with the CE label is patent-protected and has been clinically validated in many studies. It can be utilized for osteoporosis diagnosis and therapy control. Up till now, for diagnosis, patients had to be subjected to X-rays and in most circumstances, because osteoporosis has already happened.