A startup developing biomaterials with the potential to be used in a wide range of 3D-printed implants and surgical devices has raised £3.4m in Series A investment.
Nottingham-based 4D Medicine is a spinout from the universities of Birmingham and Warwick and its founders, Philip Smith and Dr Andrew Dove, have developed a resorbable biomaterial called 4Degra.
This biomaterial is being used to create implants such as orthopaedic devices and soft tissue scaffolds to aid patients recovering from surgery or injuries.
Preliminary testing has shown that as healing progresses, the biomaterial gradually erodes and is resorbed by normal metabolic processes, allowing natural tissue to grow back in its place.
The funding, led by Oshen Holdings and supported by DSW Ventures, SFC Capital, Boundary Capital, and private investors, will enable the company to complete pre-clinical testing of its first product range. The firm will also seek FDA clearance for entry into the US orthopaedic market.
This latest funding brings the total raised to date by 4D Medicine to £5m.
The company is also preparing to raise a Series B investment early next year.
Smith, the company’s CEO, said: “Our success in continuing to raise investment despite the difficult market conditions over the last few years is a testament to the belief in the company’s commercial potential and our world-class team.”
Doug Quinn, partner at DSW Ventures, added: “4D’s novel biomaterial platform opens up new possibilities for implants and devices. The company has already attracted attention from large industry players including a potential acquirer. This funding will enable it to apply for regulatory clearance in the US and target opportunities in the £5bn market for resorbable medical devices.”
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