IsoTis BV, of Bilthoven, the Netherlands, focused on the production of biomaterials for substitute body parts, has raised Euro18.2 million (US$18.8 million) in a private placement. Existing shareholders, who had put Euro7.5 million into the company since its formation in 1996, took part in the round, which also attracted new investors including Alpinvest Holding and ABN Amro.
The money will fund research and development, as well as clinical development in the field of bone repair, where IsoTis¿ leading product is Osteovitro, a cultured bone substitute. In wound repair, the lead product is Biskin, a cultured human skin.
The company, which now employs 50, is building pilot plants for the production of its biomaterials. ¿ Nuala Moran