Bone Health Technologies, maker of the OsteoBoost, a vibration belt designed to treat osteopenia and prevent osteoporosis, announces the close of its $2.5 million funding round and the appointment of three board members.
The three board members are Karen Drexler, MBA, Nancy Lynch, MD, MBA, and Sam Goldberger, MD, MBA.
“Our mission is to provide an effective and safe treatment for the more than 40 million Americans with low bone density – this capital and the expertise we are bringing to bear is exactly what we need to complete our pivotal trial and bring this important innovation to market.”
— Laura Yecies, CEO of Bone Health Technologies (BHT).
“We have been involved with Bone Health Technologies since the early proof of concept stage and are thrilled to lead this investment round – the unmet need and hence the business opportunity is enormous.”
— John Osborne, Managing Partner, Good Growth Capital
Good Growth Capital led the oversubscribed funding round, which includes investments by Astia Angels, Ambit Health Ventures, Portfolia Femtech Fund, IT-Farm, Golden Seeds, Berkeley Angel Network, the Band of Angels, Reno Seed Fund as well as prominent individual Angel Investors.
A founding member of Astia Angels, Karen Drexler now joins the Bone Health Technologies board in addition to her board positions at ResMed, Outset Medical, Tivic Health and VIDA Diagnostics. She brings extensive commercial and technical experience to the board team from a variety of health and medical-focused organizations.
Sam Goldberger, MD, MBA, is Co-Founder and Managing Partner of Ambit Health Ventures and has more than 28 years of surgical experience.
Nancy Lynch, MD, MBA, has more than 25 years of experience in the clinical and business elements of orthopedics. She is a Board-certified, fellowship-trained orthopedic surgeon and a fellow of the American Academy of Orthopedic Surgeons, and has served as Chief Medical Officer of and consultant to several medical device companies.
The round and board appointments add to a successful year for BHT, the company notes in a media release. It recently appointed CEO Laura Yecies and was granted Breakthrough Device Designation by the FDA for OsteoBoost. At the 2021 One Harvard New Venture Competition, Bone Health Technologies was awarded both the One Harvard New Venture Competition Grand Prize Winner and Northern California Crowd Favorite titles.
Osteoboost is based on NASA research suggesting that medical stimulation of bones through vibration could improve bone health in astronauts. Studies suggest that one 30-minute treatment with OsteoBoost reduced bone loss activity in all study participants.
[Source: Bone Health Technologies]
OsteoBoost Vibration Belt Obtains FDA ‘Breakthrough’ Designation