SIRAKOSSwas in the portfolio of Epidarex, a Scottish-based medical device company developing synthetic bone graft substitutes. It is an innovative medical device company developing synthetic bone graft substitutes for trauma, spine, cranio-maxillofacial and dental applications.
Sirakoss has been sold to Ossdsign. Ossdsign is a company that was founded in 2011 by Professor Håkan Engqvist, and other leading clinical, preclinical and materials researchers and engineers. OssDsign has also developed a network of international experts in Clinical Affairs, Regulation and Business Development.
Through the acquisition, OssDsign will now expand from its current focus on cranio maxillofacial surgery into the broader orthopaedic space. Commercial activities around Osteo 3 ZP Putty will commence immediately, leveraging OssDsign's proven commercial infrastructure in the US with access to customers and spine neurosurgeons.
OssDsign expects to achieve revenues from Osteo 3 ZP Putty during the second half of 2021 following approval processes in US hospitals where OssDsign is already present with its existing implants for cranial reconstruction. Over time, bone grafting is expected to account for a substantial percentage of the company's turnover.
The acquisition also takes place because of being in a market in growthwith a compound annual growth rate of 8% and gross margins exceeding 90%. In addition, it will be worth USD 4 billion in 2021, of which USD 2.6 billion will come from cervical and thoracolumbar spinal fusion surgery.
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