MedTech company 4D Biomaterials, has developed a new biomaterial used for 3D printing medical implants which have picked up 1.6 million pounds in funding.
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. The investment will become the seventh in their portfolio.
The company will use the funds to develop a range of products through partnerships with medical device companies and expand its team with the creation of five new jobs at its premises.
“I am delighted to welcome DSW Ventures and Mercia on board at this exciting time for the company,” Phil Smith, CEO of 4D Biomaterials, said. “This puts us in a strong position as we move into the next phase of taking our products to market.”
“The technology is constantly evolving, and we have been delighted to follow the company’s ongoing progress throughout the investment process,” Ellie Boardman, investment executive at DSW Ventures, said. “We believe 4D Biomaterials’ technology is truly innovative and have very high hopes for the company’s future.”
The company’s product, 4Degra, can be printed to the exact shape required in the form of an open-cell honeycomb structure and used to improve patient outcomes in a range of applications including tumour removal in breast cancer patients. 4Degra can also help patients recovering from other types of surgery and trauma, such as that caused by road traffic accidents. As natural tissue grows back through the voids, the structure gradually erodes and is expelled harmlessly by the body. It is the only 3D printed material of its type that is also biodegradable.
