Bone Health Technologies (BHT) has recently closed a $5 million funding round to enhance care for individuals with low bone density. This round saw contributions from Esplanade Ventures, Berkeley Catalyst Fund, and Terumo Medical, a global leader in medical technology.
The funding arrives at a crucial juncture, with BHT nearing the de novo FDA clearance for its Osteoboost vibration wearable. Osteoboost, designed to combat the bone strength and density loss prevalent in postmenopausal women, utilizes precision vibration to stimulate bone regeneration, thereby reducing the risk of osteopenia progressing to osteoporosis. Clinical trials of Osteoboost demonstrated significant slowdowns in bone density loss, alongside high user adherence rates of over 80% and no serious adverse events.
“Bringing a breakthrough, de novo, prescription medical device to market is a challenging road that requires patience and perseverance“ said Laura Yecies, CEO of Bone Health Technologies. “We chose to validate the science behind Osteoboost through a rigorous clinical trial, so that postmenopausal women and their physicians could have confidence in our data. The FDA clearance was the last major external hurdle, and now our focus shifts to the launch later this year. We’re thankful for our early investors who believed in our vision and our new investors who seized on the clinical data and recognized the impact we can have for women around the world.”
Osteopenia and osteoporosis affect over 64 million Americans, marking a $30 billion market that Osteoboost aims to serve as the first non-pharmacological, FDA-cleared prescription device. Interested patients and health professionals are encouraged to sign up for launch notifications.
“Osteopenia is a serious condition that affects 1 in 6 women in North America, and we believe that Osteoboost, as the first FDA-cleared noninvasive wearable device, can make a substantial improvement in the lives of millions of women,” said Ella Seitz, Partner at Esplanade Ventures, a new investor in Bone Health Technologies. “We’re excited for the future of the company and are honored to support Osteoboost’s journey to solving a critical chronic condition for women.”
