The British medical technology start-up OSSTEC is planning the next step towards the market launch of a new type of implant system for joint replacement with fresh capital of 2.5 million pounds. The solution, which is based on a 3D-printed material, is designed to simplify surgical procedures, reduce implant failure and maintain patient mobility for longer. The initial focus is on the use of partial knee prostheses.
The technology was developed at the Department of Mechanical Engineering at Imperial College London and uses a porous structural material that is biomechanically similar to natural bone. This material allows better integration into the surrounding tissue and should lead to greater stability in the long term.
“This is our go-to-market investment round,” explains Dr Max Munford, founder and Chief Executive of OSSTEC. “These funds will enable us to get regulatory approval in the US, carry out our first surgeries as part of a trial in the UK, and to earn our first revenues in the US. We first met some of our most supportive investors in this round on the San Francisco Venture Trek from two years ago.”
“OSSTEC is an excellent example of how scientific discovery can be transformed into real-world impact,” said Dr Johnathan Matlock, co-founder and general partner at 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.”
Additive manufacturing plays a central role in the design process: it enables the production of individually shaped implant structures that meet both mechanical and biological requirements. The design is continuously developed in collaboration with surgeons. The team is supported not only in the UK, but also by a growing network of medical partners in the USA.
“It was important for us to build a team of surgeons who are global leaders in their space, with a combined experience using a broad range of implants, surgical techniques and technology adoption. There are a lot of benefits in having research and commercialisation teams side-by-side,” Dr Munford says. “We get to have interesting conversations with the academic researchers, which you don’t typically have as a product-focused startup, and researchers and students get to see the process of taking a medical product to market.”
The investment round was led by Empirical Ventures and remains open due to the high level of interest. For OSSTEC, the close connection to Imperial College is a strategic advantage: research and development continue to take place in the original laboratories, which enables a rapid transfer of knowledge between science and application. In the long term, the company plans to extend the platform technology to other orthopaedic applications.
Ben Mumby-Croft, Director of Entrepreneurship, Imperial Enterprise Lab, agrees. “OSSTEC’s journey is a brilliant example of the kind of entrepreneurial venture we strive to support at Imperial—one that translates world-class research into real-world impact,” he says. “Imperial Enterprise Lab is proud to have played a role in its growth, from early-stage support to connecting it with investors through our Venture Trek programme.”
Metal Binder Jetting: The Key to Efficient Tool Manufacturing? - Exclusive Insights from INDO-MIM
Fill out the form and get instant access to an exclusive webinar on HP's Metal Binder Jetting 3D printing technology with exciting insights from INDO-MIM.Subscribe to our Newsletter
3DPresso is a weekly newsletter that links to the most exciting global stories from the 3D printing and additive manufacturing industry.
