In 2019, we suspected a cyclic financial crisis had to be near, so we restructured and prepared for the hit. All unnecessary costs were stopped. Research and development staff and projects were halted, except for exploring the skeletal application of our regenerative technology. Debts were paid off. We were lean. We decided that the one area we wanted to move forward at full speed was the FDA clearance for treating osteoporotic bones. However, that move was expensive and did not fit into our financial survival posture. At that point, we decided to break off this R&D program from SteinerBio and officially form OsNovum.

OsNovum would raise investment dollars to keep the program running at full speed throughout any foreseeable financial crisis. We knew a financial crisis was coming but we had no idea it would be as big as COVID-19. When the pandemic hit, we flipped the switch into survival mode at SteinerBio and rolled out OsNovum for investment.

On December 1, 2020 we went live on the public crowdfunding portal Wefunder, which ran through April 2021. In less than 6 months, OsNovum was able to raise over $200,000. This milestone gave OsNovum the fuel needed to go full speed with the process and the final submission has been sent to the FDA and is currently under review.

While the investment phase of the offering has closed, we have been approached by some individuals who are interested in buying into the company at this stage. To make Osnovum available to them, we have arranged to sell private stock in the company at $30 per share with a minimum $1,000 investment. This is an offer of a limited number of shares and this price will only be honored until we gain FDA clearance to go to market. If you are interested in this offer, please contact Roslynn Steiner at roslynn@steinerbio.com.