"Over the year and half as a TechRanch client, we grew the business substantially – resulting in a sizeable equity investment from a NY-based company.... and a year later, an outright purchase from Disney. Without Tech Ranch, we may not have enjoyed such phenomenal success."
---Jen Boulden, Co-Founder
Ideal Bite
Full Article
SubscribeBelgrade's Bacterin Raises $3 Million in Capital |
| Bozeman, MT, 2/15/2010 |
| Belgrade-based Bacterin International announced it has raised $3 million in capital, which it will use to repay approximately $800,000 of existing debt and to expand the company's sales and marketing efforts. Middlebury Securities helped Bacterin raise the capital via a series of promissory notes, according to a Bacterin statement released Friday. "We are very pleased with the investor reception of our business model," Guy Cook, Bacterin's founder and CEO, said. "The additional capital raised by Middlebury Securities will enable Bacterin to expand its sales effort at a time when the medical industry is eager for efficacious products that are cost-effective." He also noted that, "the investor base the Middlebury group introduced to our company is comprised of seasoned investors who recognize the potential for Bacterin's proprietary technology. We look forward to our relationship with these new investors." Bacterin designs, tests and licenses anti-infective, bioactive coatings, or biofilms, for medical applications. The bioactive agents fall into several categories: antimicrobial, analgesic, anti-thrombotic and anti-inflammatory, according to Cook's statement. The agents are applied to medical devices ranging from catheters and ports to wound drains. The company also makes biologic grafting materials. "Over the last nine years, Bacterin's team of highly experienced professionals has worked diligently developing and perfecting its technology and creating a facility that would position the company to effectively market and deliver innovative products to the orthopedics industry." In particular, Cook noted the company's OsteoSponge, made of malleable, flexible, demineralized bone, which he said gives surgeons a scaffold "that is highly economical, with superior handling and wicking properties." The company, founded in 1997, spun off of Montana State University's Center for Biofilm Engineering. The company "graduated" from technology incubator TechRanch in 2003. It is now housed in a 32,000-square-foot facility, equipped with five state-of-the-art, "Class 100" clean rooms, at 600 Cruiser Lane in Belgrade. For more information, visit www.bacterin.com. |
| Link to Original Story |
Source: Bozeman Daily Chronicle |