Bone Health Technologies announced the company has raised a new $5 million funding round from leading investment firms, including Esplanade Ventures, Berkeley Catalyst Fund, as well as strategic investor and leading global medical technology provider Terumo Medical.
BHT closes oversubscribed financing round, adds new investors to revolutionize low bone density treatments
REDWOOD CITY, CA / ACCESSWIRE / March 5, 2024 / Bone Health Technologies (BHT), a health technology innovator developing breakthrough non-invasive solutions for bone health, today announced the company has raised a new $5 million funding round from leading investment firms, including Esplanade Ventures, Berkeley Catalyst Fund, as well as strategic investor and leading global medical technology provider Terumo Medical. Ella Seitz of Esplanade Ventures and Yushin Yazaki of Terumo were appointed as board observers.
Bone Health Technologies is the developer of the Osteoboost wearable vibration device, clinically-proven to slow the loss of bone density in postmenopausal women.
This influx of capital marks a pivotal moment in BHT’s mission to reshape bone health for postmenopausal women, closing right in time for de novo FDA clearance. The funding will support the final development stages of BHT’s flagship Osteoboost vibration wearable, expected to launch later this year.
Osteoboost is a smart wearable device, worn as a belt around the hips, that is clinically proven to protect postmenopausal women from the bone strength and bone density loss common with menopause and aging. Through the delivery of precision vibration, Osteoboost stimulates the natural mechanism of bone regeneration, reducing a user’s risk of progression from osteopenia to osteoporosis. During the trial, Osteoboost not only significantly slowed the loss of bone density but also had a high user adherence rate exceeding 80% and zero serious adverse events.
Over 64 million people in the U.S. are affected by osteopenia and osteoporosis today. Osteoboost is the first and only non-pharmacological FDA-cleared prescription device to address this $30 billion market. Currently, BHT is finalizing the manufacturing and distribution logistics for the first public release of Osteoboost, anticipated later this year. Patients and health professionals interested in following the launch progress are invited to join a notification list.
“Bringing a breakthrough, de novo, prescription medical device to market is a challenging road that requires patience and perseverance,” said Laura Yecies, CEO of Bone Health Technologies. “We chose to validate the science behind Osteoboost through a rigorous clinical trial, so that postmenopausal women and their physicians could have confidence in our data. The FDA clearance was the last major external hurdle, and now our focus shifts to the launch later this year. We’re thankful for our early investors who believed in our vision and our new investors who seized on the clinical data and recognized the impact we can have for women around the world.”
“Osteopenia is a serious condition that affects one in six women in North America, and we believe that Osteoboost, as the first FDA-cleared noninvasive wearable device, can make a substantial improvement in the lives of millions of women,” said Ella Seitz, Partner at Esplanade Ventures, a new investor in Bone Health Technologies. “We’re excited for the future of the company and are honored to support Osteoboost’s journey to solving a critical chronic condition for women.”
About Bone Health Technologies
Bone Health Technologies (BHT) is a Redwood City-based company that applies science and medical expertise to create better health outcomes for women and men at risk of developing osteoporosis and associated bone fractures. The company’s first FDA-cleared device, Osteoboost, is poised to become the new standard of care in treating postmenopausal osteopenia. BHT is backed by leading investors, including Esplanade Ventures, Ambit Health Ventures, Good Growth Capital, Portfolia, Astia Angels, and Golden Seeds. For more information about BHT and Osteoboost, including the full Indications for Use, please visit www.bonehealthtech.com.
Contact Information
Michelle Kafka
Kafka Media Group
michelle@kafkamediagroup.com
407-603-5716
SOURCE: Bone Health Technologies
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