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Amotio completed a pre-seed funding round of £810,000 (~USD $1.1 million), led by a £500,000 equity investment from the Development Bank of Wales. The funding will be used to advance technology that will support better post-operative care and recovery times for joint-surgery patients throughout the global healthcare market.
Using methods pioneered by a team of surgeons and biomechanical engineers in Utrecht, Amotio has developed a new medical device to remove surgical cement during hip operations. The Development Bank’s investment includes £350,000 from the Technology Seed Fund and £150,000 from the Wales Flexible Investment Fund. The Development Bank was joined by specialist co-investors NLC Health Ventures with £210,000, and £100,000 from charity Orthopaedic Research UK (ORUK).
Amotio’s prototype technology uses 3D-printing to create a surgical cutting device and guide technology, tailored to an individual’s joint. It can then be placed accurately in the joint, allowing for the safe and efficient removal of surgical cement, and lessening the risk of further damage.
The £500,000 equity investment will support Amotio with developing Amotio’s product research and development leading to preclinical testing and regulatory approval. Further investment as part of the latest round also came from NLC fund finance, ORUK, Angel Investors, the Innovate UK Smart Grant and SMART Flexible Innovation Support via Business Wales.
The product is currently used for hip operations, but Amotio hopes it will soon be applicable to all major joint surgeries. The business aims to target medical markets in the U.S., Europe and Asia-Pacific.
Source: Wales247
Amotio completed a pre-seed funding round of £810,000 (~USD $1.1 million), led by a £500,000 equity investment from the Development Bank of Wales. The funding will be used to advance technology that will support better post-operative care and recovery times for joint-surgery patients throughout the global healthcare market.
Using methods...
Amotio completed a pre-seed funding round of £810,000 (~USD $1.1 million), led by a £500,000 equity investment from the Development Bank of Wales. The funding will be used to advance technology that will support better post-operative care and recovery times for joint-surgery patients throughout the global healthcare market.
Using methods pioneered by a team of surgeons and biomechanical engineers in Utrecht, Amotio has developed a new medical device to remove surgical cement during hip operations. The Development Bank’s investment includes £350,000 from the Technology Seed Fund and £150,000 from the Wales Flexible Investment Fund. The Development Bank was joined by specialist co-investors NLC Health Ventures with £210,000, and £100,000 from charity Orthopaedic Research UK (ORUK).
Amotio’s prototype technology uses 3D-printing to create a surgical cutting device and guide technology, tailored to an individual’s joint. It can then be placed accurately in the joint, allowing for the safe and efficient removal of surgical cement, and lessening the risk of further damage.
The £500,000 equity investment will support Amotio with developing Amotio’s product research and development leading to preclinical testing and regulatory approval. Further investment as part of the latest round also came from NLC fund finance, ORUK, Angel Investors, the Innovate UK Smart Grant and SMART Flexible Innovation Support via Business Wales.
The product is currently used for hip operations, but Amotio hopes it will soon be applicable to all major joint surgeries. The business aims to target medical markets in the U.S., Europe and Asia-Pacific.
Source: Wales247
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
