3D Printed Joint Replacement Technology Secures £2.5 Million Funding from OSSTEC
A London-based startup, OSSTEC, is making waves in the orthopaedic industry with its groundbreaking 3D printing technology for joint replacement implants. The company recently secured £2.5 million in funding, setting the stage for its entry into the market and a potential revolution in healthcare practices.
The focus of OSSTEC's innovation is on patient-specific, custom-fit implants created using 3D printing combined with imaging data such as CT scans. This approach has the potential to significantly improve patient outcomes and reduce healthcare costs.
Improved Fit and Function
The custom-made nature of OSSTEC's 3D-printed knee implants ensures a better fit for each patient, resulting in improved knee movement, better soft tissue balance, and potentially more natural joint function after surgery.
Faster Recovery and Reduced Pain
With a precise fit, less bone needs to be removed during surgery, leading to reduced surgical trauma. This results in quicker healing, reduced postoperative pain, and a faster return to daily activities compared to traditional off-the-shelf implants.
Enhanced Surgical Accuracy
3D printing also allows the creation of patient-specific cutting guides and surgical tools that enhance the precision of bone cuts and implant placements. This reduces complications, shortens surgery time, and may lower the use of intraoperative imaging like fluoroscopy.
Integration of AI for Design and Risk Reduction
Artificial intelligence is increasingly being utilized to optimize implant design, simulate surgeries, predict complications, and minimize errors in implant fabrication with 3D printing.
Healthcare Cost Implications
While initial costs for 3D-printed custom implants and patient-specific instrumentation may be higher, the overall healthcare costs may decrease because of shorter surgeries, fewer complications, faster recovery, and reduced need for revision surgeries.
Market Trends
The demand for personalized 3D printed hip and knee implants is rapidly increasing due to rising cases of osteoarthritis and mobility issues. This surge also drives innovation and wider adoption in clinical practice, suggesting growing accessibility and potential cost benefits over time.
Dr. Alex Liddle, Chief Medical Officer at OSSTEC, stated that their 3D printing technology improves efficient manufacturing and eliminates mechanisms of failure in cementless knee replacements. Johnathan Matlock, General Partner and co-founder at Empirical Ventures, believes OSSTEC has the potential to completely reform best practices in this field of healthcare.
OSSTEC's first product is less invasive knee implants that stimulate bone growth, developed with a team of surgeons. The company's cementless partial knee replacement is a significant advancement in unicompartmental knee replacement surgery.
This development in orthopaedics is expected to provide improved fixation and reduced risks, benefiting patients, surgeons, and the wider healthcare system. The funding will enable OSSTEC to launch in the market, scale its impact, and engage in strategic collaborations with partners in the medical field. The funding round was led by specialist DeepTech VC Empirical Ventures and remains open for further investment.
[1] Improved Fit and Function [2] Faster Recovery and Reduced Pain [3] Integration of AI for Design and Risk Reduction [4] Healthcare Cost Implications [5] Market Trends
- The 3D-printed knee implants from OSSTEC, designed with patient-specific details and imaging data, offer a better fit and improved function by ensuring better knee movement, better soft tissue balance, and potentially more natural joint function after surgery.
- By providing a precise fit, OSSTEC's 3D-printed implants reduce surgical trauma, resulting in quicker healing, less postoperative pain, and a faster return to daily activities compared to traditional implants.
- AI is being utilized by OSSTEC to optimize implant design, simulate surgeries, predict complications, and minimize errors in implant fabrication, enhancing surgical accuracy and reducing risks.
- Despite initial higher costs for 3D-printed custom implants, overall healthcare costs may decrease due to shorter surgeries, fewer complications, faster recovery, and reduced need for revision surgeries.
- The demand for personalized 3D-printed hip and knee implants is rapidly growing due to an increase in osteoarthritis cases and mobility issues, driving innovation and wider adoption in clinical practice, suggesting potential cost benefits over time.
