Skip to contentSkip to navigation
TwitterLinkedInInstagram
  • Home
  • News
  • Events
  • Contact Us
  • Search this site

Sirakoss acquisition | ONE

Site Navigation

  • About ONE
    nav-arrow About ONE
    nav-arrow Transforming our Region Annual Event 2022
    nav-arrow Transformational Leadership and Action
    nav-arrow Who We Are
    nav-arrow Delivery and Impact
    nav-arrow Regional Economy
    nav-arrow ONE Enterprise Fund
  • Transformational Projects
    nav-arrow Transformational Projects
    nav-arrow BioHub
    nav-arrow SeedPod
    nav-arrow Seafood Transformation Project
    nav-arrow North East Adventure Tourism
    nav-arrow Gourmet Food Festival
  • Digital Tech
    nav-arrow Digital Tech
    nav-arrow Transformational Leadership and Action
    nav-arrow ONE Tech Hub
    nav-arrow Accelerate Growth
    nav-arrow Digital Catalyst
    nav-arrow Internationalisation and Market Development
    nav-arrow Strategic Partnerships
    nav-arrow EnergyTech
  • Energy
    nav-arrow Energy
    nav-arrow Energy
  • Food, Drink & Agriculture
    nav-arrow Food, Drink & Agriculture
    nav-arrow Transformational Leadership and Action
    nav-arrow SeedPod
    nav-arrow Accelerate Growth
    nav-arrow Transform Food Production
    nav-arrow Internationalisation and Market Development
    nav-arrow Strategic Partnerships
  • Life Sciences
    nav-arrow Life Sciences
    nav-arrow Transformational Leadership and Action
    nav-arrow BioHub
    nav-arrow Accelerate Growth
    nav-arrow Digital Catalyst
    nav-arrow Internationalisation and Market Development
    nav-arrow Strategic Partnerships
  • Tourism
    nav-arrow Tourism
    nav-arrow Transformational Leadership and Action
    nav-arrow VisitAberdeenshire
    nav-arrow Accelerate Growth
    nav-arrow Gourmet Food Festival
    nav-arrow North East Adventure Tourism
  • Home
  • News
  • Events
  • Contact Us
News
Life Sciences
Posted: 5 November 2020
Sirakoss acquired by Swedish medtech firm OssDsign

Aberdeen medtech company Sirakoss has been acquired by Swedish firm OssDsign for an initial cash consideration of $11 million plus milestone and royalty payments.

The acquisition underlines the commercial attractiveness of north east Scotland’s life sciences sector and continues the positive trend of investment in the company cluster.

Sirakoss was spun out of the University of Aberdeen in 2011 and was supported through financing from Epidarex Capital and the Scottish Investment Bank, the investment arm of Scottish Enterprise, together with grant funding from Innovate UK. Epidarex Capital led the 2014 Series A and subsequent financings of Sirakoss.

Sirakoss has successfully developed Osteo3 ZP Putty, a nanosynthetic bone graft substitute to facilitate bone repair, which recently received 510(k) marketing clearance from the US Food and Drug Administration (FDA). Sirakoss’ highly differentiated putty has been designed to provide surgeons with an innovative and easy-to-use product for filling voids during spine and trauma bone grafting procedures. The product complements OssDsign’s craniomaxillofacial portfolio and commercial activities in the US are expected to begin immediately.

Prof Iain Gibson, co-founder and Director of R&D at Sirakoss and Professor of Acellular Regenerative Medicine at the University of Aberdeen, said: “It is extremely exciting to see the next major step in the development of our technology, with OssDsign having the experience and infrastructure to take our FDA cleared technology to clinical roll-out to treat the people that we originally set out to help.

“This acquisition will mean more people can benefit from the Osteo3 technology and it is further evidence of the real world impact that academic research can yield.”

Commenting on the significance of the deal, Prof Stephen Logan, chair of the ONE Life Sciences sector board, said: “Sirakoss exemplifies the culture of collaborative innovation in the region and is one of many successful spinouts from the University of Aberdeen. There are strong synergies between the two companies and we look forward to OssDsign becoming part of the regional life sciences community in Aberdeen. The acquisition will support the full commercialisation of Sirakoss’s innovative bone graft technology, which will help clinicians and benefit patients around the world, while retaining the science and innovation capabilities of the founders in the city.

“This deal demonstrates the commercial potential of the region's life sciences strengths that include biologics and biotherapeutics, medtech and digital health and the dynamic companies, established and emerging, working in these fields.

“The strategic focus for industry and partners in the region is to continue to grow innovative companies like Sirakoss. The action and investment led by ONE support regional economic diversification, national health economy targets and the Scottish Government’s recently stated ambition for health technology to be a major focus for inward investment,” said Prof Logan.

Sirakoss 500 min
Stay up to date
Sign up to hear about Opportunity North East’s latest sector events and regional news.
By signing up to receive our newsletter, you accept our Privacy policy and Terms and Conditions. We will never share any of your personal data, and you can unsubscribe at any time.

Your privacy matters to us so if you want to find out more on how we keep your data safe, view our Privacy Notice or talk to ONE direct.

news
Grass management tech and tools webinar
Mar 07 2023
Industry projects driving diversification
Feb 28 2023
Entrepreneurship, innovation and high-growth
Feb 28 2023
twitterTweets by OpportunityNE_1
contact

Opportunity North East Ltd

11 Queens Gardens
Aberdeen
AB15 4YD

+44 (0)1224 061100

info@opportunitynortheast.com

  • About One
    Transforming our Region Annual Event 2022Transformational Leadership and ActionWho We AreDelivery and ImpactRegional EconomyONE Enterprise Fund
  • Transformational Projects
    BioHubSeedPodONE Tech HubSeafood Transformation ProjectNorth East Adventure TourismGourmet Food Festival
  • Digital Tech
    Transformational Leadership and ActionONE Tech HubAccelerate GrowthDigital CatalystInternationalisation and Market DevelopmentStrategic PartnershipsEnergyTech
  • Energy
    Energy
  • Food, Drink & Agriculture
    Transformational Leadership and ActionSeedPodAccelerate GrowthTransform Food ProductionInternationalisation and Market DevelopmentStrategic Partnerships
  • Life Sciences
    Transformational Leadership and ActionBioHubAccelerate GrowthDigital CatalystInternationalisation and Market DevelopmentStrategic Partnerships
  • Tourism
    Transformational Leadership and ActionVisitAberdeenshireAccelerate GrowthGourmet Food FestivalNorth East Adventure Tourism
ONE (en-GB)
Privacy Policy | Terms and Conditions