- Financed by $2.2M in non-dilutive grants issued to Theranova from National Institutes of Health based on clinical data showing reduction in biomarker of bone loss
- Round led by institutional investor, Good Growth Capital, first close completed in Aug 2019
- Selected (among 50 out of 800 applicants) for Medtech Innovator's 2019 Showcase Cohort, Top 100 Semifinalist for Startup of the Year (Consumer Technology Association)
- 45 patients currently using device at home for 12 months as part of longitudinal pivotal clinical trial
- Team with necessary skills including serial medtech CEO, former FDA regulator, and consumer healthcare marketing specialist
- Total Amount Raised: US $474,999
- Total Round Size: US $1,500,000
- Series A :
- Minimum Investment: US $10,000 per investor
- : Preferred Equity
- US $7,500,000 :
Bone Health Technologies is tackling an epidemic of low bone mass - osteopenia (moderate bone loss) and osteoporosis (severe bone loss) - in the United States with about 54M affected. Approximately 1 in 2 women and 1 in 4 men over 50 will break a bone due to low bone mass in their lifetimes. This problem is exacerbated by the lack of adequate treatment options. >75% of patients quit medications within 12 months due to side effects. The other option is daily weight-bearing exercise such as running (high impact) or weightlifting (high resistance), which many older adults either don't keep up with or can't due to pre-existing conditions.
Co-founder and physical medicine doctor Shane Mangrum was faced with this lack of treatment options in his practice. He discovered the potential of whole-body vibration therapy, studied by NASA and in academic settings but a commercial failure due to usability issues. The OsteoBoost belt packages 15+ years of research into a home-use, consumer healthcare product. The OsteoBoost belt applies dynamic mechanical stimulation to the hips and spine to influence bone remodeling activity similar to weight-bearing exercise. The device is targeted towards older women concerned about their bone health and will be sold over-the-counter at a price point of $399 (initial market entry in Q2 2020).
The OsteoBoost belt has been clinically proven to reduce bone resorption (breakdown) activity by an average of 14% in a clinical trial, on par with medications and weight-bearing exercise (conducted at UNMC, study abstract published by ORS in 2018). Bone Health Technologies has been awarded two non-dilutive grants totaling $2.2M from the National Institutes of Health, which involved review by a panel of experts in the field. Approximately 50 patients are currently using the OsteoBoost belt for 12 months in a longitudinal pivotal trial.
Frequently Asked Questions
When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by Bone Health Technologies. Once Bone Health Technologies accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Bone Health Technologies in exchange for your securities. At that point, you will be a proud owner in Bone Health Technologies.
Preferred equity is usually issued to outside investors and carries rights and conditions that are different from that of common stock. For example, preferred equity may include rights that prevent or minimize the effects of dilution or grants special privileges in situations when the company is sold.
A convertible note is a unique form of debt that converts into equity, usually in conjunction with a future financing round. The investor effectively loans money to a startup with the expectation that they will receive equity in the company in the future at a discounted price per share when the company raises its next round of financing.
To learn more about startup investment types check out “How to Choose a Startup Investment” in our academy.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Social Security Number or passport
- ABA bank routing number and checking account number (typically found on a personal check or bank statement)
Because Bone Health Technologies is offering its securities under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.
Until a closing occurs, you may cancel your investment at any time, for any reason. You will receive an email when the closing occurs and your securities have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your portfolio page by clicking your profile icon in the top right corner.
Currently there is no market or liquidity for these securities. Right now Bone Health Technologies does not plan to list these securities on a national exchange or another secondary market. At some point Bone Health Technologies may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when Bone Health Technologies either lists their securities on an exchange, is acquired, or goes bankrupt.
You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement.
This is Bone Health Technologies's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity.
This investment is highly speculative and should not be made by anyone who cannot afford to risk the entire investment amount. In addition to these risks, you should carefully consider the specific information and risks disclosed in Bone Health Technologies’s profile.