UCL Business sells implant company

UCL Business has sold university spinout Stanmore Implants Worldwide to a syndicate led by Abingworth Management and MDY Healthcare for around £10m.

Stanmore Implants Worldwide (SIW) designs, manufactures and markets a custom implant service with a portfolio of orthopaedic implants for limb salvage and complex joint replacement. It is known for creating some of the world’s most successful implants, including the Stanmore Hip.

The syndicate will invest a total of £12.5m to acquire SIW and provide funds for future growth of the core business and the clinical development of its new product ITAP (Intraosteous Transcutaneous Amputation Prosthesis). ITAP is a means of attaching a metal implant to bone so that it sticks out through the skin and can have prosthetic attachments added.

Cengiz Tarhan, managing director of UCL Business, said: ‘SIW is a great example of academia and technology transfer working together within an academic and NHS environment delivering benefits to society. The sale of SIW to MDY and Abingworth will accelerate the development of ITAP which will benefit both patients and the continuing academic research at UCL.’

Brian Steer, executive chairman of Stanmore Implants Worldwide, said: ‘In my many years in the industry, I have seen few products as innovative as the ITAP implant. The ability to attach prosthetic devices directly to the skeleton of amputees is truly ground-breaking and has already benefited patients. I look forward to working with the team to roll out the existing business internationally while completing the clinical development and commercial launch of ITAP.’