BBS-Bioactive Bone Substitutes to launch an initial public offering
BBS-Bioactive Bone Substitutes has decided to launch an initial public offering. The company plans to apply to have its shares listed on the First North Finland marketplace maintained by Nasdaq Helsinki Oy and the Nasdaq First North Sweden marketplace maintained by Nasdaq OMX Stockholm AB.
BBS-Bioactive Bone Substitutes is a Finnish health technology company that has developed a new generation innovative medical device product for the treatment of bone defects in orthopaedic and traumatological surgery. The company’s solution, ARTEBONE®, is an injectable paste in a ready-to-use syringe, which is injected into the bone’s problem spot or fracture area. It is designed to promote the natural healing of the bone by utilising growth factors extracted from reindeer bone and tricalcium phosphate(TCP) ceramics that act as a base for bone formation.
The aim of the Offering is to raise funds to complete ARTEBONE®’s ongoing application processes for the CE mark and FDA approval as well as to begin commercial production and the commercialisation of the product. Funds are also needed to continue product development, develop and maintain the patent portfolio, ensure sufficient self-financing for growth investments and hire additional staff for sales and marketing purposes.
The subscription period for the Offering lasts from 5 to 18 February 2018 and BBS-Bioactive Bone Substitutes plans to initially issue a maximum of 1,400,000 new shares. The company’s objective is to raise approximately EUR 7.7 million from the Offering prior to fees and expenses, assuming that all of the new shares are subscribed for.
More information available here.
Source: BBS-Bioactive Bone Substitutes
CEO, BBS-Bioactive Bone Substitutes