Cerapedics, a private ortho-biologics company, plans an expansion of the company's headquarters located in metro Denver, Colorado.
According to company officials, Over the past 18 months Cerapedics has grown from 16 to 44 employees in Colorado and is increasing its facility from 14,000 to 24,000 square feet to accommodate further expansion through the end of 2019. In addition, Cerapedics is expanding its global workforce from 32 to 73 employees worldwide.
"We are excited to grow our Colorado footprint and bring more jobs and career opportunities to the Denver area," said Glen Kashuba, CEO of Cerapedics. "This expansion allows us to further control our value chain by relocating our distribution activities to our corporate headquarters. We now have the potential to double our headcount across key administrative, operational and sales support departments to meet the growing demand for i-FACTOR™ Peptide Enhanced Bone Graft and drive the business for years to come."
Cerapedics commercialized i-FACTOR beginning in 2016 and has since increased its market space with continued growth of greater than 50% expected in 2019. i-FACTOR is a drug-device combination that accelerates new bone formation in patients with degenerative disc disease. It is in a new category of bone graft technology and is one of only two drug-device combination products approved by the U.S. Food & Drug Administration (FDA).
To further grow its product portfolio and support the company's commitment to enhancing the science of bone repair, Cerapedics is currently enrolling patients in an investigational device exemption (IDE) clinical trial evaluating the safety and efficacy of the next-generation P-15L Peptide Enhanced Bone Graft in transforaminal lumbar interbody fusion (TLIF) surgery.
"We are excited about our future product offering and further advancement of our growing bone graft franchise," said Edward Sawyer, General Manager and Head of Colorado Operations for Cerapedics. "Expanding our facility enables us to double our Colorado staff to best service our customers and our product. We've benefited greatly from our Coloradolocation and are pleased to continue to expand our team of talented professionals. We have found a strong pool of talent upon which to utilize in the Denver Metro Area."