OSSTEC, a London-based startup using 3D printing to improve joint replacement implants, has raised £2.5m.
There are more than a million knee replacement surgeries performed globally each year and these operations present serious risks, with 35% of patients being at a high risk for failure, requiring revision surgeries, according to the company.
Based on a decade of research at Imperial College London, OSSTEC’s 3D printing technology aims to improve the reliability of replacement surgeries.
The company’s product is designed to mimic cartilage articulating surfaces and bone-fixing structures.
The new cash injection will support OSSTEC’s market launch as it looks to secure strategic partnerships in the medical sector.
“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,” said OSSTEC founder and CEO Max Munford.
“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.”
The round was led by deep tech investment group Empirical Ventures.
“OSSTEC is an excellent example of how scientific discovery can be transformed into real-world impact,” said Johnathan Matlock, general partner and co-founder of Empirical Ventures.
“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.”
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