Sweden's Promimic raises $3.2 mln

Gothenburg-based biomaterials firm Promimic AB raised 23.8 million Swedish crowns ($3.2 mln) to finance the establishment of its commercial operations in the US, the world’s largest market for medical implants.

Chalmers Ventures participated as a new investor alongside existing investors Karolinska Development and Almi Invest.

The new operation will be based in Austin, Texas and will be led by the company’s CEO Ulf Brogren, with the aim of building up a regional sales team targeting the US orthopaedic and dental implant markets with novel products enhanced with Promimic’s HAnano Surface coating technology.

Promimic develops and markets surface technology for medical implants (orthopaedic and dental) called HAnano Surface, which increases their anchoring strength and integration with surrounding bone tissue.