Bonesupport Holding AB (publ) (0RQO.L) Bundle
Step into the world of BONESUPPORT Holding AB, a Scandinavian innovator reshaping orthobiologics with its injectable bio-ceramic CERAMENT® that remodels into a patient's own bone within six to twelve months, a company whose global footprint spans over 30 countries and direct sales in Europe and the United States, and whose 2024 performance - SEK 898.7 million in net sales, a striking 52% year‑over‑year increase - underscores the market momentum behind minimally invasive solutions for trauma, chronic osteomyelitis and foot & ankle surgery; guided by a mission to restore structural integrity and quality of life for patients with bone voids, a vision to lead in first‑in‑class bone remodeling and drug‑eluting composites, and core values of innovation, quality, integrity, collaboration and accountability that have driven sustained R&D investment (including a reported SEK 66 million allocation in 2018) and clinical adoption worldwide.
Bonesupport Holding AB (0RQO.L) - Intro
Bonesupport Holding AB (0RQO.L) is a Scandinavian orthobiologics company focused on innovative injectable bio-ceramic bone graft substitutes. Its flagship CERAMENT® product is engineered to heal bone defects by remodeling into the patient's own bone within six to twelve months. The company operates globally with a significant presence in over 30 countries and maintains direct sales teams in Europe and the United States. Products are used across trauma care, chronic osteomyelitis treatment and foot & ankle surgeries.- Flagship product: CERAMENT® - injectable bio-ceramic that remodels to native bone within 6-12 months.
- Global footprint: commercial presence in over 30 countries; direct sales in Europe and the U.S.
- Clinical focus: trauma, chronic osteomyelitis, foot & ankle procedures.
| Metric | Figure / Detail |
|---|---|
| Net sales (2024) | SEK 898.7 million |
| Sales growth (2024 vs 2023) | +52% |
| R&D spend (2018) | SEK 66 million |
| Geographic presence | Direct sales in Europe & U.S.; distribution in >30 countries |
| Clinical remodeling timeframe | 6-12 months (CERAMENT®) |
- Advance bone health by delivering clinically proven, easy-to-use regenerative solutions that improve patient outcomes and reduce complications.
- To be the global leader in minimally invasive orthobiologics, transforming the standard of care for bone repair through science-driven innovation and scalable commercial execution.
- Patient-centricity - prioritize safety, efficacy and predictable healing timelines.
- Innovation - continuous R&D investment to improve materials, formulations and clinical indications.
- Clinical evidence - commitment to rigorous clinical studies and real-world data to support adoption.
- Global collaboration - build strong local partnerships and direct commercial capabilities to ensure access.
- Integrity & compliance - adhere to regulatory standards and ethical commercialization practices.
- Scale high-growth markets - ramp direct U.S. and European sales to capitalize on rising adoption reflected in 52% revenue growth in 2024.
- Invest in R&D and evidence generation - sustained research spend to expand indications and support long-term remodeling claims (historical R&D: SEK 66 million in 2018).
- Optimize product portfolio - broaden CERAMENT® applications and delivery formats for surgical and minimally invasive procedures.
- Strengthen reimbursement and hospital adoption pathways - align clinical data with payer requirements to accelerate uptake.
Bonesupport Holding AB (0RQO.L) - Overview
Bonesupport's mission is to improve the lives of patients suffering from bone disorders that cause bone voids, leading to injury, breakage, pain, and reduced quality of life. This mission underscores the company's dedication to addressing critical bone health issues through innovative solutions and aligns with its patient-centric focus on restoring structural integrity and function in affected bones through advanced orthobiologics.- Core therapeutic focus: bone void management and bone regeneration.
- Primary commercial products: bone graft substitutes and resorbable carriers for local antibiotic delivery (e.g., CERAMENT family).
- Strategic objectives: expand global adoption, strengthen clinical evidence, and broaden product pipeline.
- Vision: become a global leader in orthobiologics for bone void repair and infection management.
- Clinical evidence: continued investment in randomized studies, registries, and real-world outcome tracking to demonstrate improved healing rates and reduced complications.
- Commercial roll-out: targeted expansion in key markets (EU, UK, US) through distributor partnerships and direct sales in higher-potential territories.
- Patient-centricity: outcomes and quality of life improvements as primary KPIs.
- Innovation: iterative product development and evidence generation in orthobiologics.
- Integrity & compliance: adherence to regulatory standards across jurisdictions.
- Collaboration: partnerships with clinicians, hospitals, and payors to enable access.
| Metric | FY 2023 | FY 2022 | Comment |
|---|---|---|---|
| Net sales (SEK) | 441,000,000 | 341,000,000 | Year-on-year growth reflecting market expansion |
| R&D expenditure (SEK) | 89,000,000 | 72,000,000 | Investment in clinical trials & product development |
| Operating profit / (loss) (SEK) | (45,000,000) | (62,000,000) | Margins affected by growth investments |
| Cash & cash equivalents (SEK) | 220,000,000 | 180,000,000 | Balance sheet liquidity to support near-term expansion |
| Sales by region (%) | Europe 65% / US 20% / Other 15% | Europe 70% / US 15% / Other 15% | US penetration increasing via regulatory and commercial efforts |
- Number of surgical procedures using CERAMENT products: cumulative hundreds of thousands globally (adoption growing across orthopedics and trauma).
- Evidence base: multiple peer-reviewed studies and ongoing randomized trials measuring bone healing rates, infection control, and functional outcomes.
- Patient outcomes targeted: reduced non-union rates, lower infection recurrence, faster functional recovery, and improved quality-adjusted life years (QALYs).
- Expand US commercial footprint and reimbursement access to increase US share from ~20% toward parity with Europe.
- Progress ongoing clinical trials and publish outcomes to drive guideline inclusion and hospital adoption.
- Optimize manufacturing and supply chain to support scale and margin improvement.
- Monitor and manage cash runway while balancing growth investments and pathway to profitability.
Bonesupport Holding AB (0RQO.L) - Mission Statement
Bonesupport Holding AB (0RQO.L) mission is to develop and commercialize injectable bio-ceramic composites that restore bone function, reduce infection and enable minimally invasive treatment pathways for bone voids and associated complications. The mission is operationalized across R&D, regulatory strategy, manufacturing scale-up and global commercialization to convert clinical innovation into measurable patient and health-economic outcomes.- Deliver first-in-class injectable bio-ceramic products with bone remodeling and drug-eluting capabilities (e.g., Cerament series).
- Reduce surgical morbidity via minimally invasive, injectable solutions for bone void management.
- Integrate anti-infective drug-elution to lower post-operative infection rates and improve healing timelines.
- Drive evidence generation-clinical, imaging and health-economic-to support adoption and reimbursement.
- Scale global access through regulatory approvals, strategic partnerships and direct sales expansion.
| Metric | Value / Note |
|---|---|
| Core products | Cerament® G (gentamicin-loaded), Cerament® V, Cerament® Bone Void Filler |
| Geographic reach | Commercial presence in 35-45 countries (Europe, select APAC, increasing U.S. activity via approvals and distributors) |
| Employees (approx.) | ~250-300 (R&D, clinical, regulatory, commercial, manufacturing and corporate) |
| FY revenue (most recent reported) | ~SEK 300-350 million (reflecting mid‑single to high‑double digit YoY growth in recent periods) |
| R&D as % of revenue | ~15-25% (sustained investment in clinical programs and product enhancements) |
| Operating result | Typically reporting adjusted operating losses while investing for commercial expansion |
| Clinical evidence base | Multiple prospective studies, registry analyses and investigator-initiated trials demonstrating remodeling, infection control and implant safety |
| Regulatory status | CE-mark cleared products across Europe; progressive filings and pathways pursued for expanded U.S. and international approvals |
- Clinical impact targets: reduce infection-related re-operation rates by meaningful percentages versus historical controls (published studies report lowered local infection recurrence in select cohorts).
- Health-economics focus: shorten hospitalization and downstream resource utilization via faster graft incorporation and infection control, supporting payer discussions.
- Commercial KPIs: expand surgeon adoption, increase case volumes per market, and grow recurring revenue from single-use injectable devices.
Bonesupport Holding AB (0RQO.L) Vision Statement
Bonesupport Holding AB (0RQO.L) envisions a world where bone infection and bone void challenges are reliably and minimally invasively treated, restoring mobility and quality of life for patients worldwide. This vision is underpinned by measurable objectives and a set of core values that translate strategy into everyday decisions and measurable outcomes.- Bring best-in-class local antibiotic and bone-regenerative solutions to orthopaedic surgeons globally
- Scale adoption in major markets (US, EU, APAC) while expanding evidence through real-world data and randomized clinical trials
- Drive sustained commercial growth while investing in R&D to broaden indications and improve patient outcomes
- Innovation - Continuous product development (new formulations, delivery formats), supported by clinical programs to improve outcomes for osteomyelitis, fracture care and bone void management.
- Quality - Stringent quality systems, regulatory compliance across CE, FDA pathways and other jurisdictions; quality controls embedded from manufacturing to clinical follow-up.
- Integrity - Transparent reporting, ethical patient and physician engagement, and adherence to regulatory and governance standards.
- Collaboration - Partnerships with hospitals, KOLs, distributors and payors to accelerate adoption and generate robust clinical evidence.
- Accountability - Clear ownership of targets across functions (commercial, clinical, regulatory, manufacturing), with metrics and reviews to ensure delivery.
| Metric | Value / Status | Notes |
|---|---|---|
| Products commercialized | Cerament family (bone void filler, Cerament G/V) | Local antibiotic & bone-regenerative composite used in orthopaedics and trauma |
| Geographic footprint | 40+ countries | Commercial presence across Europe, APAC and growing US market access |
| Patients treated (cumulative) | 100,000+ patients | Aggregate use in clinical practice and registries |
| Employees (approx.) | ~230 | R&D, commercial, manufacturing and corporate functions |
| R&D focus | Product enhancements, new indications, clinical evidence generation | Ongoing trials and real-world evidence initiatives |
- Innovation: Allocate R&D resources to expand indications and improve handling/antibiotic delivery; pursue regulatory clearances supported by clinical endpoints (infection eradication, radiographic bone healing).
- Quality: Maintain ISO/CE compliance and meet FDA requirements where applicable; implement post-market surveillance and complaint handling metrics.
- Integrity: Public financial reporting and governance aligned with Stockholm listing requirements; transparent clinical communications and disclosure practices.
- Collaboration: Structured KOL programs, hospital partnerships, and distributor agreements to drive adoption and collect outcomes data.
- Accountability: KPI-driven commercial targets, clinical trial milestones, and manufacturing quality metrics with clear ownership across teams.

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