In accordance to these advances, the company will change its name to OssDsign AB. Karolinska Development invested $1.019m (SEK 6.8m) in the rights issue, increasing its ownership in OssDsign AB from 16% to 26%.

Following the closure of the financing round of $2.054m (SEK 13.7m), the company has initiated a clinical multi-center study with its first product, OssDsign Cranio PSI.

In addition to the clinical outcome, the study is expected to assess the quality of life and health economics.

The first patients in the study have been treated at the Karolinska University Hospital in Stockholm recently.

OssDsign CEO Bo Qwarnström said that the clinical study with OssDsign Cranio PSI is conducted on patients for whom earlier treatments with conventional skull implants have not worked.

"The positive results so far with OssDsign Cranio PSI, suggest that this implant could be an important new option for this patient category, especially if the skull injuries are severe," Qwarnström added.

The launch of OssDsign Cranio PSI offers a platform to further develop applications in skull surgery and in the other orthopaedic areas including fracture healing.

Karolinska Development CEO Torbjörn Bjerke said that the surgical procedures carried out so far with OssDsign Cranio PSI have been successful in all cases and, for some patients, life changing.

"If the company can repeat the results in the current study, it will be a great achievement for all patients with skull injuries and also for the owners," Bjerke added.