Cerapedics Gains $15M

Westminster, Colorado-based Cerapedics announced today that the firm has completed a Series B round of private equity financing, worth $15M. The round was led by NGN Capital, and also included prior investor OrbiMed Advisors. Cerapedics is developing medical devices for the osteobiologic market; the firm's products are a orthopedic bone graft substitute based on small peptide attachment factor technology. According to Cerapedics, NGN's Kenneth Abramowitz and Orbimed's Chau Khuong have joined its board along with the funding. Cerapedics said the funding will go towards sales and marketing of its products outside of the United States, as well as towards funding FDA clinical trials in the US. Techrockies first reported the funding last week. More information »