OSSTEC, a London-based startup based on research at Imperial College London, has raised £2.5M to accelerate the launch of its groundbreaking 3D printing technology aimed at improving joint replacement implants.
The funding round, led by specialist DeepTech venture capital firm Empirical Ventures, is set to help OSSTEC bring its innovative cementless knee implant technology to market. It will enable OSSTEC to scale its operations and collaborate with strategic partners in the medical field.
OSSTEC’s product, which mimics the structure of cartilage and bone-fixing elements through 3D printing, is designed to overcome common challenges seen with traditional knee replacements. The company's first product uses this approach in less invasive knee implants to stimulate bone growth, with the potential to significantly reduce the risk of implant failure—a concern that affects millions of patients worldwide.
By leveraging 3D printing, OSSTEC’s solution also simplifies the supply chain, improving efficiency and potentially reducing costs for healthcare systems. This is particularly important as the demand for joint replacement surgeries increases and healthcare providers are pressured to manage resources more effectively.
Max Munford, PhD, CEO and Founder of OSSTEC, explained, “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. 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.”
Johnathan Matlock, General Partner and co-founder at Empirical Ventures, commented, “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.”
Dr Alex Liddle, Chief Medical Officer at OSSTEC, highlighted the significance of the company’s technology, saying, “OSSTEC’s 3D printing technology allows efficient manufacturing whilst eliminating mechanisms of failure seen in previous cementless knee replacements. Its cementless partial knee represents a major step forward in unicompartmental knee replacement surgery. Cementless partial knee replacement has advantages over cemented techniques with improved efficient workflows, survival and clinical outcomes. This represents an exciting new development in orthopaedics that promises improved fixation and reduced risks, providing value for patients, surgeons and the wider healthcare system.”
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