A fresh round of funding will be used to fuel new technology developments and increase sales at Birmingham/Porto-based biomedical company Adapttech.
The £2 million round was supported by existing investors Bionova Capital, and the MEIF Proof of Concept & Early Stage Fund, an arm of the Midlands Engine Investment Fund. The round also saw new investors including ACF investors, Wealth Club, and Wren Capital.
The company’s INSIGHT system is designed to make lower-limb prostheses fittings faster and easier, as well as monitor the rehabilitation process.
Through the use of a 3D scanner, multiple sensors, and wearable technology, the INSIGHT system has been trialed in two prosthetics clinics in the US, and received successful outcomes in both cases. Clinicians validated tests for health, function, satisfaction and pain levels of patients.
“This new funding is a significant milestone for Adapttech, as it represents the company’s transition from its development and testing phase into a fully commercial operation,” comments Adapttech Chairman Stuart Mead.