The UK developers of a new biomaterial used for 3D printing medical implants has completed a £1.6m funding round.
4D Biomaterials will use the funding to develop products through partnerships with medical device companies and expand its team with the creation of five new jobs.
In a statement, 4D Biomaterials said its 4Degra product can be printed to the exact shape required for a tissue scaffold with an open cell honeycomb structure that degrades while promoting tissue regeneration following implantation. 4Degra is being developed to improve patient outcomes in applications including tumour removal in breast cancer patients, and could also help patients recovering from other types of surgery and trauma.
4Degra was developed for over 15 years in Professor Andrew Dove’s research group at the Universities of Warwick and Birmingham. Research has shown the 3D printed tissue scaffolds have ‘shape memory’ which means their structure is retained when the scaffold is implanted into tissues, where they show highly promising tissue-healing performance, including the ability to support cell migration, the ‘ingrowth’ of tissues, and revascularisation.
The investment was led by DSW Ventures and backed by the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund, Mercia’s own funds, and existing investor SFC Capital.
Phil Smith, CEO of 4D Biomaterials said: “The raise was oversubscribed by 60 per cent, helped by the continuing support of SFC Capital and our angel investors. This puts us in a strong position as we move into the next phase of taking our products to market.”
“We have been extremely impressed by the team and product ever since our first meeting,” added Ellie Boardman, investment executive at DSW Ventures. “The technology is constantly evolving, and we have been delighted to follow the company’s ongoing progress throughout the investment process. We believe 4D Biomaterials’ technology is truly innovative and have very high hopes for the company’s future.”