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Tuesday 22 January, 2008

Progentix Orthobiology

Progentix Orthobiology B.V. Closes Series A Fin...





BILTHOVEN, The Netherlands, January 22 /PRNewswire/ --     Progentix 
Orthobiology B.V. announced today the closure of its
Series A financing Round. The round was led by BioGeneration Ventures.



    Progentix Orthobiology B.V. was established in 2007 and
develops a unique suite of osteoinductive material products for clinical
application in bone regenerative surgery. Progentix bone graft material is
based on surface structured ceramic biomaterial scaffolds that have the
ability to attract growth factors and stems cells after implantation, which
results in the induction of bone growth. These materials are not only
superior to currently available synthetic ceramic bone grafts, but based on
their bone healing and regeneration potential also directly compete with the
gold standard of autologous bone, and the growth factors that are being used
today and those under development. The Series A financing round will support
further technology validation and the generation of clinical proof of
principle.



    Dr. Joost de Bruijn, CEO of Progentix Orthobiology said: "We
are extremely pleased with the support of BioGeneration Ventures. This
financing round will allow us to continue building value and lay the
groundwork for the launch of our first products in the near future."



     "We strongly believe in the high quality of the Progentix
Orthobiology technology," says Edward van Wezel M.Sc., managing partner at
BioGeneration Ventures BV. "This novel technology platform will address a
real medical need in the area of bone grafts. The scientific team has an
excellent track record in the development of biomaterials and tissue
engineering." Dr. Clemens van Blitterswijk, professor in Tissue Regeneration
at the University of Twente and former CEO of IsoTis N.V., and Edward van
Wezel will join the board of directors of Progentix Orthobiology.



About Biogeneration Ventures BV

    BioGeneration Ventures invests in Dutch Life Sciences
companies. The team of BioGeneration is specialized in the evaluation of new
technologies and in the management of start-up companies. BioGeneration
Ventures was co-founded by the Netherlands Genomics Initiative (NGI), NWO,
the holding of the University of Leiden, and ABN-AMRO Capital. BioGeneration
closely cooperates with Forbion Capital Partners (http://www.forbion.com).



    
    Contact:

    Progentix Orthobiology B.V.
    Prof. Dr. Joost de Bruijn
    T: + 31-30-2295234
    E: [email protected]

    W: http://www.progentix.com

    BioGeneration Ventures B.V.
    Edward van Wezel
    T: +31-35-6993011
    E: [email protected]

    W: http://www.biogenerationventures.com





                                                                                                             

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