Aberdeen medical firm sold in multi-million pound deal

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A medical spin-out from the University of Aberdeen has been acquired by a Swedish rival in a deal worth more than £8 million. 

Sirakoss, whose backers include Epidarex Capital and the Scottish Investment Bank, has been sold to Sweden’s OssDsign for an initial $11m (£8.4m) in cash plus royalty and milestone payments. Under its new owners, commercialisation of the Sirakoss technology is expected to begin “immediately”. 

Sirakoss recently received marketing clearance in the US for its Osteo ZP Putty, a nanosynthetic bone graft substitute. Based on the research of the company’s founder, professor Iain Gibson, Osteo ZP is designed to provide surgeons with an easy-to-use product for filling voids during spine and trauma bone grafting procedures.