Small Bone Innovations LLC
This article was originally published in Start Up
The founders of Small Bone Innovations believes the device industry is entering the decade of small bones and joints, and has embarked on a consolidation strategy to prepare for dramatic innovation and change in what today is a fragmented marketplace.
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Highlights from the Q2 2009 review of start-up dealmaking: Fundraising in the biopharma, medical device, and in vitro diagnostics industries totaled $864 million--a 25% increase from Q1 2009--with most of the money, 54% or $465 million, coming out of the device industry, which saw only $127 million the previous quarter. There was one acquisition--PPD paid $14.5 million in cash for Magen BioSciences. In the most significant alliance, valued at up to $527 million, GSK got rights to three compounds from Concert Pharmaceuticals, including two in the preclinical stage, which was the most popular phase of development on Q2 alliances.
Small Bone Innovations and ConforMIS drew capital from across the globe for their $144 million and $50 million financings.