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BONESUPPORT announces IPO on Nasdaq Stockholm
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BONESUPPORT announced its board of directors has applied for shares of the company to be admitted into trading on Nasdaq Stockholm’s main market, according to a company press release.
BONESUPPORT develops injectable, bioceramic bone graft substitutes with the capability of eluting drugs into the bone void. Cerament G and other products are part of BONESUPPORT’s Cerament technology platform.
“We believe our [initial public offering] IPO will provide us with the funds we need to execute our strategy of driving sales in both the United States and Europe, generating additional clinical data to enhance the competitive positioning of our products in trauma and revision arthroplasty and completing the FORTIFY study, which is a key to gaining U.S. approval for Cerament G,” Richard Davies, chief executive officer of BONESUPPORT, said in the release.
According to the release, BONESUPPORT’s application was approved by Nasdaq Stockholm, subject to customary conditions. The goal is to broaden the shareholder base with a new share issue of SEK 500 million, which will be used to support BONESUPPORT’s development and operations expansion. The first day of trading for the shares is expected to be June 21, 2017.
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