4D Medicine – a UK company whose innovative biomaterial has potential to be used for a wide range of 3D printed implants and surgical devices – has raised £3.4m ($4.4m) in a Series A investment.
The funding round was led by Oshen Holdings and backed by DSW Ventures, SFC Capital, Boundary Capital and private investors including several leading scientists and surgeons. It will enable the company to complete pre-clinical testing of its first product range and seek FDA clearance for entry into the US market.
A spin-out from the Universities of Birmingham and Warwick, 4D has developed a resorbable biomaterial, 4Degra, that is being used to develop implants such as orthopaedic devices or soft tissue scaffolds to help patients recovering from surgery or injuries. Preliminary testing has shown that as healing progresses, the biomaterial gradually erodes and is resorbed by normal metabolic processes as natural tissue grows back in its place.
4Degra promises some key advantages over existing resorbable biomaterials used for implants. With some materials, the entire product breaks down rapidly, creating acidic by-products that can cause pain, inflammation and cysts. By contrast 4Degra degrades gradually, starting from the surface, and does not release harmful acidic by-products.
4Degra can be 3D printed to create complex geometries. As it can be produced in both soft and hard formulations, it also has the potential to be used both for flexible products such as films and membranes, or where a more rigid product is required such as plates, pins and bone scaffolds.
4D Medicine was founded in 2020 and is now based in Nottingham. The latest funding brings the total raised to date to £5m. The company is now preparing to raise a Series B investment early next year.
Philip Smith, the company’s CEO, commented: “I would like to thank all our investors for their trust and support. Our success in continuing to raise investment despite the difficult market conditions over the last few years is testament to their belief in the company’s commercial potential and our world-class team. The funds will be used to complete the pre-clinical testing of our first medical device product range and our preparations for entry into the orthopaedic market.”
Didier Cowling, Partner at Oshen Holdings added: “We were delighted to lead this deal and we look forward to working with the 4D team. The company is now poised to make a substantial impact in the bioresorbable medical device space. We believe that 4Degra is a real game-changer that is enabling 4D to develop novel bioresorbable medical devices with unique properties.”
Doug Quinn, Partner at DSW Ventures, commented: “4D’s novel biomaterial platform opens up new possibilities for implants and devices. The company has already attracted attention from large industry players including a potential acquirer. This funding will enable it to apply for regulatory clearance in the US and target opportunities in the £5bn market for resorbable medical devices.”
Jason Druker, Portfolio Manager at SFC Capital said: “We are delighted to refresh our commitment to Phil and the 4D team. Since we first invested four years ago, they have made great progress and we’re excited to see the impact of their first medical device products”.
A team from Addleshaw Goddard led by George Danczak provided corporate legal advice to the company, with Hill Dickinson advising on matters including the requirements of the National Security Investment Act. Eleanor Baird at Weightmans advised DSW Ventures and Mercia.
For more information, visit https://4dmedicine.co.uk
About 4D Medicine Ltd
4D Medicine Ltd is the parent company to two wholly owned subsidiaries, 4D Biomaterials Ltd and 4D Medical Devices Ltd. Respectively focusing on the development and commercialisation of new resorbable biomaterials and implantable medical devices, the companies share the common aim of improving patient experiences and outcomes.
Spun-out from the Universities of Birmingham and Warwick in April 2020, the company now operates from an independent development and production facility in Nottingham with the capacity to manufacture 1.5% of the current global demand for medical grade resorbable polymers.
With over £30 billion of market opportunities identified in the resorbable medical device market, the company is now engaged in taking its first medical device product range through the FDA’s regulatory clearance processes for the US market.
Resorbable biomaterials haven’t changed fundamentally for decades. Although widely used in implantable medical devices, materials such as Polylactic Acid (PLA), Polycaprolactone (PCL), Poly Lactic-co-Glycolic Acid (PLGA) and their derivatives have delivered sub-optimal clinical performance with several key issues having been identified that have constrained growth in the sector.
4Degra® summary
4Degra® is a resorbable biomaterial with the potential to be used across a wide range of implantable medical device applications. It is a photocurable resin that can be processed into the finished device form by 3D printing (at all scales from nano, through micro, to macro), casting or conversion into thin films or meshes.
Capable of creating devices that range from soft and flexible to strong and rigid, 4Degra® resins are all formulated with 4D Biomaterials® unique polycarbonate-urethane chemistry.
Softer grades of 4Degra® can be configured to exhibit a shape memory response, enabling the development of minimally invasive surgical devices such as meshes, films, and soft tissue scaffolds. Harder formulations have been developed for more mechanically demanding uses such as ligament-bone fixation plates, pins, screws, and load-bearing bone regeneration scaffolds.
