OssDsign completes acquisition of the Scottish bone graft company Sirakoss
OssDsign AB (publ) has today completed the previously announced acquisition of Sirakoss Ltd. The transaction was announced in a press release on November 3, 2020.
OssDsign has acquired all outstanding Sirakoss shares in an all-cash transaction. The purchase price of USD 11 million, not including agreed milestone and royalty payments, is divided into three cash instalments, of which the first USD 5 million payment has now been paid by OssDsign. The acquisition has been financed through the directed share issue of approximately SEK 65 million before transaction costs that OssDsign carried out on November 3, 2020. The two remaning cash instalments of USD 3 million each are to be paid on June 30 and December 31 2021, respectively.
For further information, please contact
Morten Henneveld, CEO, OssDsign AB
Tel: +46 73 382 43 90
Email: morten.henneveld@ossdsign.com
Certified Adviser
Erik Penser Bank AB is the company’s Certified Adviser. Contact information: Erik Penser Bank AB, Box 7405, 103 91 Stockholm, Sweden, phone: +46 (0)8-463 80 00, email: certifiedadviser@penser.se.
About OssDsign
OssDsign is a Swedish medical technology company that develops and manufactures regenerative implants for improved healing of bone defects. Providing neuro and plastic surgeons with innovative implants, OssDsign improves the outcome for patients with severe cranial and facial defects worldwide. By combining clinical knowledge with proprietary technology, OssDsign manufactures and sells a growing range of patient-specific solutions for treating cranial defects and facial reconstruction. OssDsign's technology is the result of collaboration between clinical researchers at Karolinska University Hospital in Stockholm and material scientists at the Ångström Laboratory at Uppsala University.
About Sirakoss
Sirakoss is developing nanosynthetic graft substitutes to facilitate complete bone repair and transform patient healing. The Sirakoss bone graft substitutes utilise advanced and proprietary understanding of nanostructures and nanochemistry to catalyze faster bone regeneration coupled with total graft resorption. Sirakoss was spun out of the University of Aberdeen in 2011 based on the research of Professor Iain Gibson and is supported through financing from leading early-stage venture fund Epidarex Capital (www.epidarex.com) and the Scottish Investment Bank, the investment arm of Scottish Enterprise together with grant funding from Innovate UK.
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