1Crowd and BIRAC invest in healthcare startup SynThera Biomedical
Pune-based healthcare startup SynThera Biomedical Private Limited has secured an undisclosed amount of seed funding investment from two investors from equity crowd-funding platform, 1Crowd and the government’s Biotechnology Industry Research Assistance Council (BIRAC).
The startup focuses on R&D, manufacture, and commercialization of affordable biomaterials-based medical devices. With the investment, the startup aims to achieve expansion, approvals, and launch of their first line of bone graft substitute products in the market.
The company’s flagship products – SynOst and PoroSyn are synthetic bone graft substitute products made from bioactive glass materials. Both products are used in dental and orthopaedic surgeries as implantable materials for repair and regeneration of bone that is lost or damaged due to disease, injuries or congenital deformities.
“SynThera is an innovative biomaterial sciences company, with patented technology, which we believe can address a global opportunity through an array of technology lead products. 1Crowd seeks to invest in ventures that are at the cusp of knowledge and technology, and SynThera is a fine example of that. ” Said Anil Gudibande, co-founder of 1Crowd
“BIRAC’s SEED – Sustainable Entrepreneurship and Enterprise Development scheme was set up to support life sciences start-ups, with a funding of up to Rs. 30 lakh. The investments raised by Venture Center’s incubator company SynThera will enable it to move faster towards regulatory approvals, production, and sales,” said Dr. Premnath, Director, Venture Center, the incubator that supports SynThera Biomedical.