Swedish Injectable Bone Material Company Raises $ 5 Million

The Swedish biotech company Bone Support AB, which has developed a product platform for injectable bone materials, today announced an investment of $5 million in its first external round of financing. The actual share issue was directed towards two top-tier Scandinavian venture investors, InnovationsKapital, Sweden and Teknoinvest, Norway. The investment will cover the development of the company's first product, SpineSupport™, intended for the use in osteoporotic vertebral fractures. Within a short time, SpineSupport™ will enter clinical trials. 

(Bone Support's homepage)

BURLINGAME, California, December 17, 2002 - Angiogenix, Inc. announced today that it has completed the sale of $12 million of its preferred stock. Led by BioAsia Investments, LLC the financing includes new investors, Teknoinvest Management AS, AIG Global Investment Corp., Posco BioVentures and Kenson Ventures, LLC. Existing investors, Asset Management Company and Sunflower Capital Partners, also participated. Albert Cha, M.D., Ph.D., of BioAsia Investments and Steinar J. Engelsen, M.D., M.Sc., of Teknoinvest Management, have joined the Company’s board of directors.

Click here for the whole press release

(Angiogenix homepage)

Optinel Systems Secures $22.4 Million in Financing

New Funds to Solidify Optinel’s First-to-Market Advantage

ANAHEIM, CA¾December 4, 2002—Optinel Systems, a privately held provider of transport systems for the cable television industry, today announced that it has completed its Series B round of funding, totaling $22.4 million. The round was led by Court Square Ventures, Teknoinvest and Birchmere Ventures. SilverHaze Partners, Four Seasons Ventures, the Dinner Club and Isis Capital also participated in the financing round, along with existing Optinel investors, OCG Ventures and Novak Biddle Venture Partners.

Click here for the whole press release 


VentureWire top story on Dec. 5, 2002  
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(Optinel homepage)

Opera Software receives MNOK 12 in convertible loan

In September Teknoinvest and Four Seasons invested NOK 11,85 million in Opera Software through a convertible loan. Teknoinvest's share of the investment was NOK 8 million. The loan will be converted in a later equity financing round. At that time Teknoinvest will be issued warrants for an amount corresponding to the loan.

(Opera homepage)