Business
$1million investment in portfolio company, EpiBone
$1million investment in portfolio company, EpiBone.
About this update from Emv Capital Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6626T\n NetScientific PLC\n 26 November 2021\n \n \n \n \n NetScientific plc\n \n \n (\"NetScientific\", the \"Group\" or the \"Company\")\n \n \n \n \n \n $1million investment in portfolio company, EpiBone\n \n \n \n \n \n London, UK - 26 November 2021 - NetScientific plc (AIM: NSCI), the international life sciences and sustainability technology investment and commercialisation Group, announces that it has arranged an investment of a further $1 million (c. £0.750 million) into its Lifesciences' portfolio company, EpiBone Inc. (\"Epibone\"), a revolutionary regenerative medicine company focused on bone and cartilage reconstruction based in the US. The $1m investment amount is part of an overall $11m close alongside Boston based investors, and notable family offices.\n \n In line with NetScientific's capital-light investment approach, the investment comprises of $734k from NetScientific's balance sheet and $266k in advised funds from Group's corporate finance and venture capital subsidiary EMV Capital Ltd (\"EMVC\"). It follows NetScientific's conversion of $250k CLA and interest into equity in January 2020 (resulting in 0.82% of the company on a fully diluted basis).The funding will take EpiBone through to a scale-up round expected in late 2022, and enable the company to accelerate development of its pipeline. \n \n The company's proprietary bioreactor technology is the product of 20 years of fundamental research and experience with orthopaedic tissue engineering, resulting in a three-step process to regenerate human bone. Its lead bone product (EB-CMF), a potential treatment for ramus continuity defects in the mandible, is now in Phase 1 human trials. The first step involves a CT scan to determine the exact 3D size and shape of the bone needed for the defect being treated, together with extraction of adult stem cells. The second stage involves the creation of a precise, personalized scaffold of the required bone, and the design and construction of a custom bioreactor that will incubate the new bone as it grows. The final stage involves infusion of the stem cells into the scaffold, and growth inside the bioreactor where they are remodelled into a personalized bone graft ready for implantation. \n \n In 2019, EpiBone announced that...