Financial News

Bone Health Technologies Closes $2.5 Million Funding Round and Appoints New Board Members

SAN FRANCISCO, May 03, 2021 (GLOBE NEWSWIRE) -- Bone Health Technologies, a leading innovator of technologies for improving bone health, announces today the close of its $2.5 million funding round and the appointment of three board members: 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,” shared 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” said 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 (RSMD:NYSE), Outset Medical (Nasdaq:OM), 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 brings significant medical expertise to the BHT board. Dr. Goldberger is Co-Founder and Managing Partner of Ambit Health Ventures and has over 28 years of surgical experience. Nancy Lynch, MD, MBA is also joining the board. Dr. Lynch 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. It recently appointed CEO Laura Yecies and was granted Breakthrough Device Designation by the FDA for OsteoBoost, the first vibration belt specifically designed for the prevention of osteoporosis. 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 which proved that medical stimulation of bones through vibration would improve bone health in astronauts. Studies have shown that one 30-minute treatment with OsteoBoost reduced bone loss activity in all study participants.

For more information on the CEO appointment or Bone Health Technologies and OsteoBoost please visit: http://www.bonehealthtech.com/


ABOUT BONE HEALTH TECHNOLOGIES:Bone Health Technologies is a San Francisco based company that applies science and medical expertise to create better health outcomes for women and men at risk of developing osteoporosis and the associated bone fractures. Initially created in the med-tech incubator TheraNova, Bone Health Technologies is poised to become the new standard of care in treating both osteoporosis and osteopenia (the precursor to osteoporosis). Visit www.bonehealthtech.com for more information.


MEDIA CONTACT:
Michelle Kafka
407-603-5716
Michelle@kafkamediagroup.com

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