Coral-based bone graft developer raises nearly $4M

CoreBone, a developer of coral-based bioactive bone graft material for dental and orthopedic indications, has raised $3.7 million in an investment round.

CoreBone's coral is grown in an aquarium system using proprietary technology and laboratory-made sea water enriched with bioactive nutrients and the firm's own coral breeding source, according to the Israeli vendor. Offering similar properties as human or animal bones, the coral obviates the need for animal or human bone for bone grafting, the company said.

Coral grown in a closed, controlled aquarium used for the bone graft material. Image courtesy of CoreBone.

The financing round included a $3 million investment from the Guangzhou Sino-Israel Biotech Investment Fund in CoreBone's Chinese subsidiary and a $700,000 investment from the Trendlines Group and Agriline. Coral Bone said it would use the funds to expand its commercial global presence, primarily in China. The country represents a significant opportunity for CoreBone due to its ban on imports of foreign human-derived bone grafts, according to the firm.