Oxford Innovation invests in OSSTEC’s bone healing implants

Published by

Daniel Face

iStock

Oxford Innovation has contributed to the oversubscribed £1.2 million funding round for orthopaedics company OSSTEC, through both its EIS Growth Fund and OION angel investment network.

OSSTEC develops 3D printed biomimetic implants to stimulate bone growth, which aim to reduce implant loosening and bone loss post-surgery. Its patented platform technology is the result of more than eight years of R&D at Imperial College London.

Richard Cooper, Managing Director at Oxford Innovation Finance, said: “OSSTEC’s fully porous implants create a better bond between the bone and implant, transforming the recovery and rehabilitation of patients by keeping them healthy and active for longer.

“It is the only company utilising the possibilities of 3D printing to develop this type of implant for a market that has previously lacked innovation.

“Oxford Innovation Finance is focused on supporting the best technology businesses being founded in the UK, helping them to develop bold ideas to solve the challenges for future generations.”

The new investment will accelerate the development of OSSTEC’s implants and instruments towards their first clinical procedures.

Combining the expertise of both engineers and surgeons, the team is soon hoping to evolve from the lab to the operating room and put their technology into practice.

Dr Max Munford, Co-founder and Chief Executive of OSSTEC, added: “1.3 million knee patients are treated every year globally, but surgeons increasingly want to treat younger patients to reduce the risk of more severe damage later in life.

“The increased chance of implants loosening over their lifetime often prevents surgeons from undertaking these procedures on younger patients.

“OSSTEC’s additive manufacturing 3D printing technology is proven to improve bone formation and fixation offering an innovative solution to solid metal implants that lasts longer and performs better.”

Daniel Face

Born and raised in Berkshire, Dan fell into journalism after completing his bachelor’s degree in English at UCL. Writing for The Business Magazine and local Biz News sites has given him the opportunity to chat with all manner of small business owners and share their success stories with a wider audience. Outside of work, Dan enjoys live music, board games and quiz shows, and is making a slow but persistent effort to learn Spanish.