(Nanowerk News) Singapore Nanostart investment BioMers has successfully concluded a round of financing for around SGD 6 million (approximately €3.5 million). Its new investors include a further venture capital fund and several private investors. Nanostart is investing pro rata in this financing round and thereby keeping Nanostart Singapore Early Stage Venture Fund's share in BioMers largely constant at about 24%.
Andreas Kröll, Managing Director of Nanostart Asia, commented: "Investors had a very keen interest in acquiring a stake in BioMers, which confirms the enormous potential the company has for decisively shaping the market for esthetic dental correction."
The new funding is intended for the further expansion of BioMers. This includes building a new production facility in Singapore, expanding the sales and marketing team and sales and marketing support activities focusing on Singapore, the US and selected countries in Europe.
Nanostart AG headquartered in the German financial capital of Frankfurt, is a leading nanotechnology investment company, with portfolio companies spanning the globe from Silicon Valley to Singapore. The company provides venture capital financing for nanotechnology companies in various growth phases with a focus on innovation-driven industries of the future such as cleantech, life sciences and IT/electronics. Through its subsidiary Nanostart Asia and the venture capital fund in Singapore, Nanostart is proud to be the investment partner of the Singaporean government.
BioMers is a medical device company that has developed novel polymer composite products for numerous biomedical applications. The company's flagship product is the SimpliClear™ braces system, which is the world's first and only aesthetic solution for all types of orthodontic treatments. This translucent, almost invisible braces system is customized to each patient, providing faster and better results. Established in 2005, BioMers is a spin-off company from the National University of Singapore, where the technology was invented. BioMers has received seed funding from NUS Enterprise, venture capital funding from the Nanostart Singapore Early Stage Venture Fund, and grants from government agencies, including SPRING Singapore and the Economic Development Board. For more information, please visit www.biomersbraces.com.