4D Biomaterials completes £ 1.6million funding round


4D Biomaterials, which has developed a new biomaterial used for 3D printing of medical implants, has completed a funding round of £ 1.6 million.

The investment was led by DSW Ventures and supported by the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and is part of the Midlands Engine Investment Fund, Mercia equity and existing investor SFC Capital.

The funding will be used to develop a range of products through partnerships with medical device companies and to expand its team with the creation of five new jobs at its MediCity premises.

The 4D Biomaterials 4Degra product can be printed to the exact shape required for tissue scaffolding with an open cell honeycomb structure that safely degrades while promoting tissue regeneration after implantation. As natural tissue grows back through the voids, the structure gradually erodes and is safely expelled from the body. 4Degra is being developed to improve patient outcomes in a range of applications, including tumor removal in breast cancer patients, and may also help patients recover from other types of surgery and trauma, such as those caused by traffic accidents.

4Degra – which is the only 3D printed material of its kind that is also biodegradable – has been developed for over 15 years in Professor Andrew Dove’s research group at the University of Warwick and the University of Birmingham. Recently published research has shown that 3D printed tissue scaffolds have ‘shape memory’, meaning that their structure is retained when the scaffold is implanted into the tissues, where they exhibit very promising tissue healing performance. , including the ability to support cell migration, the ‘internal growth’ of tissue, and revascularization (growth of blood vessels).

After leaving universities last year, the company appointed Phil Smith, a proven entrepreneur in biotech spin-off companies, as CEO.

Phil Smith, CEO of 4D Biomaterials, said: “I am delighted to welcome DSW Ventures and Mercia on board at this exciting time for the company. The increase was 60% oversubscribed, aided by continued support from SFC Capital and our angel investors. This puts us in a strong position as we move into the next phase of marketing our products. “

The investment will become the seventh in the portfolio of DSW Ventures, the UK region-focused venture capital firm.

Ellie Boardman, Investment Manager at DSW Ventures, said: “We have been extremely impressed with the team and the product since our first meeting. Technology is constantly evolving and we have been delighted to follow the continuous progress of the company throughout the investment process. We believe that 4D Biomaterials’ technology is truly innovative and have very high hopes for the future of the company.

Mercia has solid experience in the healthcare sector. Companies she has supported with MEIF funding include prosthetic technology company Adapttech, wound care specialist NuVision and Locate Bio, which is developing new treatments for patients with spinal diseases.

David Baker, Chief Investment Officer at Mercia, said: “4D Biomaterials is pioneering a new generation of biomaterials that deliver benefits for both patients and healthcare. Not only could they speed up healing and remove the need for follow-up surgery, whether for tissue reconstruction or to remove the original implant. The funding will allow the company to find partners around the world.

Mark Wilcockson, Senior Investment Director at British Business Bank added: “We are delighted to see this latest investment from MEIF supporting new biotechnologies in the healthcare sector. One of MEIF’s key goals is to see companies like 4D Biomaterials innovate, develop new products and grow. We encourage other businesses in the region to consider the financing options available through the MEIF. “

4D Biomaterials will be exhibiting at Med-Tech Innovation Expo 2021, NEC Birmingham from September 28th to 29th. Register on med-techexpo.com.

Source link


Leave A Reply