OSSTEC, a startup looking to change the face of joint replacement implants with a novel 3D printing technology, has raised £2.5m in funding.
The funding will allow the London-based firm to launch in the market and scale its impact with strategic partners in the medical field.
Based on 10 years of research at Imperial College London, the company has developed patented 3D-printing technology to mimic both cartilage articulating surfaces and bone-fixing structures.
The main image above shows a bone, in blue, growing into an OSSTEC implant, forming a natural bond.
Its first product has been developed with a world-leading team of surgeons and applies this technology in less invasive knee implants to stimulate bone growth.
The round was led by specialist DeepTech VC Empirical Ventures, which, due to increased interest, remains open for further investment.
The MedTech states that its technology will fundamentally change orthopaedics, significantly reducing the risk of implant failure or complications and allowing patients to stay active, pain-free and enjoy an improved quality of life.
This will allow healthcare providers to operate more efficiently, saving thousands on treatment costs and treating more patients more efficiently.
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“This funding marks a pivotal moment for OSSTEC, enabling us to bring our groundbreaking technology to market with our team of surgeons and engage in strategic collaborations to improve patient outcomes,” said Max Munford, PhD, CEO and founder of OSSTEC.
“We are at the exciting intersection of innovative technology, delivering value for surgeons and patients and high-growth markets, all combined to help more people stay active and pain-free for longer.
“We’re excited to take the next steps in scaling our impact and making a meaningful difference in patients’ lives and the wider healthcare ecosystem.”
Johnathan Matlock, general partner and co-founder at Empirical Ventures, added: “OSSTEC is an excellent example of how scientific discovery can be transformed into real-world impact.
“The company has huge potential to completely reform best practices in this field of healthcare, with an impressive team of scientists pushing the boundaries of engineering and medical research.
“In backing OSSTEC, we continue to drive forward Empirical Ventures’ own mission of empowering the next generation of innovators to turn their research into impactful solutions.”