Osteolabs nets €1.6 in second financing round

Osteolab has completed a second financing round in the amount of approximately €1.6 million. The funds were provided by Seed and Start-Up Fonds II of MBG (Mittelständische Beteiligungsgesellschaft) Kiel, Labor Dr. Krause & Kollegen MVZ GmbH, Kiel, and SVM Verwaltungsgesellschaft mbH, Hamburg, as new shareholders.

On the one hand, the funds raised will be used to promote the further geographical expansion of osteolabs GmbH in the Scandinavian countries, the BENELUX countries, Switzerland and Austria. On the other hand, the capital will be used to further expand the existing laboratory capacities.

Dr. Bernd Buchholz, Minister of Economic Affairs of the Federal State of Schleswig-Holstein, said: “Osteolabs is a good example of a successful and innovative start-up which has been successful to date and which the state is supporting with its financing instruments in a tailor-made way on the road to economic implementation and further development. This makes osteolabs one of a total of 67 companies that have so far been actively supported on their way into the market by the Schleswig-Holstein Seed and Start-up Fund II”.

Lucas Murmann, investment manager of SVM, said: “We have invested in this innovative biotech company because we are convinced that the OsteoTest procedure offers significant added value for patients and doctors in the treatment of osteoporosis. This disruptive procedure has great market potential worldwide and we want to support its market penetration”.

Managing Director Dr. Stefan Kloth said:”Since the company was founded, we are experiencing a continuous increase in orders, both from end customers and from medical practices. This shows us that we are on the right track. After the successful roll-out in pharmacies throughout Germany, the OsteoTest is now also available to end consumers and can therefore be purchased not only online but also on site”.