Orthobiologics company Cerapedics revealed on Friday the completion of a USD22m financing led by KCK Group, a family investment fund that focuses on innovative medical technologies that meet significant clinical needs.

Under the terms of the financing, Valeska Schroeder, PhD, Greg Garfield, JD and Nael Karim Kassar have been appointed to Cerapedics' board of directors

Dr Valeska Schroeder, PhD is the managing director of the medical technologies division at KCK Group, Greg Garfield, JD is the senior managing director and head of the medical technologies division at KCK Group and Nael Karim Kassar is the investment partner at KCK Group.

The USD22m financing will be used to accelerate commercialisation and US lumbar trial for i-FACTOR Peptide Enhanced Bone Graft based on proprietary biomimetic small peptide (P-15) technology that has a novel mechanism of action that induces osteoblast cell proliferation and differentiation to accelerate new bone formation in patients with degenerative disc disease. This technology enhances the body's natural bone healing process through cellular activity.