Vestre Stationsvej 15, 1
5000 Odense C
Particle3D raises capital through West Hill
ODENSE, May 18th, 2020 – Particle3D, We Print Bone™, is pleased to announce that the £2.5 million capital raise through West Hill Capital was heavily oversubscribed. Particle3D has developed a disruptive and patented technology to be used to produce and supply P3D Bone; 3D printed patient-fitted, degradable bone implants that remodel into real living bone. The first research products have been launched, the P3D Scaffolds, bringing natural bone environments into laboratories.
The raised capital will be used to establish the production line for the P3D Bone and get the product ready for market and to build the sales and marketing platform for the P3D Scaffolds.
“We are very pleased to collaborate with West Hill raising the capital needed to expand our activities and prepare our P3D Bone for the US$3.8 billion bone implant market as well as advancing the Company’s commercialization activities for the P3D Scaffold.”, says Thea Wulff Olesen, CEO of Particle3D.
Particle3D has received several awards and grants for developing this technology including the Danish Venture Cup 2017 and Best Danish Health Tech Startup 2019. In early 2018, Particle3D received a grant of DKK 450,000 towards a second pig trial from the Danish Innovation Fund. In June 2018, Particle3D closed a seed investment round of DKK 5.17 million from PreSeed Ventures and business angels and the Company is now doing an investment round A with West Hill Capital. The offering of the private placement has in 2 days been fully subscribed.
Robert Caie, Managing Partner at West Hill Capital, added, “West Hill is delighted to be supporting such an innovative business with a technology that could potentially improve the lives of implant patients through their ability to remodel 3D printed bone into real living bone within the body. Particle3D could well become the gold standard in bone replacement, the world over.
The Company represents yet another Danish technology business within our portfolio that is excelling within its respective multi-billion dollar market.”
Particle3D is a Danish MedTech company founded on proprietary technology to 3D print patient-fitted, natural and degradable bone implants. This enables faster ingrowth of bone tissue, remodeling into real living bone, and results in fewer complications. The technology can also be used for 3D printed R&D products, implants with additives, such as antibiotics or other drugs, and even in industries outside healthcare. Website Particle3D – We Print Bone
West Hill Capital
West Hill Capital is a leading venture capital firm providing institutional and private investors unrivalled direct access to highly attractive UK and European growth businesses. In recent years, West Hill Capital has raised in excess of £185m for a portfolio of innovative financial services businesses and pioneering technology companies with global potential. Website West Hill Capital: Private Equity and Venture Capital Firm
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