February 21, 2024: RiverFort is pleased to announce that we have advanced a further €500,000 to Bioactive Bone Substitutes (“Bones”), a company listed on the Nasdaq First North Growth Market Finland, following the original investment in September 30, 2021 and subsequent investment in February 2022.
This further investment into Bones follows on from the successful equity placement raising gross proceeds of £1.75m which RiverFort participated in as an equity subscriber. The further investment by RiverFort through this advance, alongside the recent equity subscription, bolsters the company's working capital as Bones moves through the continuing CE marking phase.
About Bioactive Bone Substitutes Plc: BBS - Bioactive Bone Substitutes Plc is a orthobiology company that started its operations in 2003. They have developed a new product for the treatment of complex bone fractures and bone healing issues. Their goal is to provide next-generation medical products for the treatment of bone injuries in orthopedic surgery. In the pharmaceutical industry, the development and research work require perseverance and courage to innovate.
Bioactive Bone Substitutes Plc is characterised by expertise, innovation, and dedicated employees who are passionate about their work. Bioactive Bone Substitutes Plc first developed product, ARTEBONE® Paste, is in the final stages of the CE marking process to enable its commercialization in the EU market. We are based in Oulu with a medical manufacturing facility in Reisjärvi, holding a manufacturing license. The company's headquarters are in Oulu, and we employ over 20 people.
