Westminster medical equipment firm reels in $11M

cerapedics-logoA Westminster company that makes a synthetic bone grafts has raised $11 million from investors, according to documents filed with the SEC on Sept. 23.

Medical device firm Cerapedics says its synthetic putty can be used to repair bones because it acts like a scaffold so existing tissue can attach to it, which triggers the cells to start making new bone tissue.

Traditionally, surgeons perform bone grafts to repair fractured or diseased bones by inserting a graft of healthy bone from the patient or by implanting a donated graft that has been frozen.

According to its website, Cerapedics makes an alternative that uses some of the building blocks in collagen, a protein in human bone, skin and other connective tissue.

The company traces its origins to CeraMed Dental, a company that received pre-market approval from the FDA for a dental bone graft substitute in 1999. CeraMed’s technology became the basis for Cerapedics products when the company was founded in 2006.

In November 2015, the medical device company received FDA approval to use its bone graft to treat a degenerative disease affecting the spine.

And in February 2016, Cerapedics touted results from a clinical trial showing that the Cerapedics bone graft had higher overall success than traditional grafts from patients’ healthy bone.

The Cerapedics bone graft has been available to treat patients outside the U.S. since 2008, according to a company press release.

Cerapedics can raise up to $14 million in the offering, which was disclosed Sept. 23. Past SEC filings shows the company has raised at least $66.4 million in the past decade.

The company is led by CEO Glen Kashuba, who joined the company in 2013. Prior to that, Kashuba was headed a division of the medical device company Biomet in New Jersey.

Cerapedics is based at 11025 Dover St. in Westminster. It did not return messages from BusinessDen seeking comment.

Cerapedics is not the only local firm that makes products used in bone grafts. The nonprofit AlloSource produces putties, cubes, strips and gels using tissue from donors.

cerapedics-logoA Westminster company that makes a synthetic bone grafts has raised $11 million from investors,…

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