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A new synthetic bone graft material

27/05/2003

"Orthogem's new product could bring about a major shift in orthopaedic surgery which is good news for Europe's ageing population."

Based in Nottingham, Orthogem is developing an adaptable bone graft material, which can be used as a load-bearing and non load-bearing bone replacement and as in-fill for bone defects. This new innovation has the potential to bring considerable social benefits as the number of elderly people is forecast to increase significantly. In Europe alone, the number of people aged over 65 is forecast to grow from 14% of the population to 19% over the next 25 years. The incidence of degenerative diseases associated with ageing, e.g. osteoporosis, will show a substantial increase resulting in more spine and hip injuries. Currently, these repairs are painful and risky, but the Orthogem product will reduce these and is also likely to lead to a longer implant life which would lessen pain and stress to elderly patients.

There is also a large and growing global orthopaedic market for synthetic bone substitutes. Bone is one of the most commonly transplanted materials - second only to blood transfusion. More than 450,000 bone transplants are performed each year in the US, and over 2.2 million worldwide. 90% of current bone grafts use either bone harvested directly from the patient (autograft) or cadaver bone from a 'bone bank' (allograft). But although both procedures deliver adequate clinical results they are risky, expensive and rely on severely limited resources.

Recent trials at University College London's (UCL) Centre for Biomedical Engineering have shown that Orthogem's synthetic implants result in rapid new bone growth that is of unprecedented high quality. Such encouraging data suggests that Orthogem's materials have the potential to replace the current autograft and allograft in many orthopaedic applications.

Mark White, NESTA Invention and Innovation Director, said: "NESTA is the largest source of early-stage, seed-corn funding in the UK and is always on the lookout for ground-breaking new ideas for products and services such as Orthogem's new synthetic bone substitute. Their breakthrough could bring about a major shift in orthopaedic surgery which is good news for Europe's ageing population. We hope that our support will go a long way in bringing this new material onto the market."

NESTA's award is part of a recent venture capital and business angel funding round for Orthogem's new product, much of which has been raised by The Oxfordshire Investment Opportunity Network (OION), Europe's most successful technology business angel network.

Alastair Cavanagh, Manager of OION, adds: Orthogem is to be congratulated on raising a substantial sum in excess of that originally sought. The Oxfordshire Investment Opportunity Network (OION) supports innovative companies like Orthogem by offering them access to our business angel members who can provide management expertise as well as vital development capital. In Orthogem's case, the initial investment raised through OION attracted additional investors to back a high growth potential company with a promising technology, which is already well on the way to becoming a marketable product. We are particularly pleased that NESTA, which is a member of OION, is investing alongside our other members."

Press enquiries to: Alastair Cavanagh, Manager, The Oxfordshire Investment Opportunity Network.

Tel: +44 (0)1865 811127 E-mail: a.cavanagh@oxin.co.uk www.oion.co.uk

The Oxfordshire Investment Opportunity Network is a technology business angel network that links investors with entrepreneurs seeking business development funds from £50,000 to £1M. OION's members include over 120 active business angels who provide vital capital, management expertise and contacts, which enable the companies to develop to the stage where they can attract venture capital investment. In 2002 OION helped 14 companies raise about £3M. During the last three years OION has helped more than 40 companies raise over £12M. Many of these companies are university spin-outs and OION is uniquely positioned to help them. OION holds regular joint presentation meetings and has strong links with universities with a reputation for spinning out quality technology companies such as, Warwick, Oxford, Bristol, University College London and Imperial College London.

OION is managed by Oxford Innovation Ltd (www.oxin.co.uk), the UK's leading operator of innovation centre premises for start-up companies, and sponsored by HSBC Bank, Grant Thornton, Manches and Business Link.