Imperial Innovations has made a £4m investment in Stanmore Implants, a company that designs and manufactures implants for orthopaedic reconstructions.
This news follows the announcement in June that Stanmore had received US FDA 510k approval for its Juvenile Tumour System (JTS) non-invasive extendable distal femoral replacement, for use in paediatric orthopaedic oncology surgery.
According to a statement, Stanmore is now launching JTS in the US market and the proceeds will be used in part to help build a specialist sales force for the product.
The proceeds will also be used to support the development of Stanmore’s other new technologies. These include the Savile Row System, claimed to be the world’s first fully personalised early knee-replacement surgery system that combines patient-specific implants with a proprietary robotic intra-operative system, and ITAP, a novel approach to enabling the direct attachment of an exoprosthesis to the skeleton of amputees.
‘While we have a solid core business generating increased revenues, we now have the funds to accelerate the development of our new, groundbreaking technologies and drive the commercialisation of our non-invasive extendable implants in the UK and the US,’ said Brian Steer, executive chairman of Stanmore.