The Aalto University spin-out company will use the funds to
commercialise its painless limb-lengthening method.
(May 7, 2015) Synoste
was founded in 2012, and it has now raised EUR 1.2 million in A-round
financing, the first round of financing undergone after seed financing. The
funding was raised from existing and new investors, and the company also
received EUR 1.0 million from the European Eurostars programme that supports
promising growth companies. The funding will be used to fund clinical trials
needed for acquiring the CE marking required before the company's product can
be launched on the European market. Synoste's products will provide a painless
and safe method for lengthening limbs and correcting skeletal deformations.