CoreBone, a Tel Aviv, Israel-based company that produces bioactive, coral-based bone graft material, raised $3.7m in funding.
The Guangzhou Sino-Israel Biotech Investment Fund (“GIBF”), which focuses on introducing Israeli medical technologies to the Chinese market, invested $3m in CoreBone’s Chinese subsidiary; The Trendlines Group and Agriline (a trust of which Vincent Tchenguiz is a discretionary beneficiary) invested $700k.
The company intends to use the funds for extending its commercial global presence, primarily in China.
Led by CEO Ohad Schwartz, CoreBone develops and sells bioactive bone graft material, providing a natural alternative to synthetic or human and animal-derived (bovine, porcine) bone graft material for dental and orthopedic indications. Corals are grown on Moshav Ein Yahav in the south of Israel, in a closed, controlled aquatic (aquarium) system using proprietary technology and laboratory-made sea water enriched with bioactive nutrients and CoreBone’s own coral breeding source.
CoreBone is a portfolio company of The Trendlines Group Ltd. (SGX: 42T) (OTCQX: TRNLY), with support from the Israel Innovation Authority.
FinSMEs
04/10/2021