Bioretec, a company dedicated to advancing biodegradable orthopedic implants, receives a grant of a maximum of EUR 0.97 million for its research and development (R&D) work from Business Finland’s Co-Innovation project funding for the period 1 March 2023 – 28 February 2025.
Biomaterials for Fixing Bone Fracture
As a part of this project, Bioretec is dedicated to researching and advancing the understanding of the use of biomaterials in the context of bone fracture fixation. The primary focus revolves around the development of coatings for RemeOs™ magnesium alloys.
The innovation aims to enhance our ability to control and direct degradation processes, consequently also broadening the scope of indications for RemeOs™ products.
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Following our recent achievement of market authorization for our RemeOs™ screw in the U.S., we are continuing to explore materials and technologies to expand our portfolio of trauma products. This grant will contribute to our efforts,” said Timo Lehtonen, chief executive officer of Bioretec.
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We are deeply appreciative of Business Finland's trust and support, recognizing Bioretec's capabilities and the consortium's dedication to delivering intelligent medical devices to a demanding global market,” added Lehtonen.
The grant amount represents 50% of the R&D project´s costs, which in maximum, are estimated at EUR 1.95 million.
Source: Bioretec