Orthogem is focused on the discovery and development of advanced synthetic bone grafts. The company completed its SyndicateRoom round in February 2017, overfunding to £567,284.30.
Joint injuries and bone degeneration are widespread, debilitating conditions that can lead to chronic pain and mobility problems. Some 26,000 Britons are operated on each year to alleviate bone-related pain. Regenerative medicine is one of the newest and most promising areas in medicine, enabling human tissue to be engineered or regrown to replace missing or damaged bone.
Orthogem has developed patented technology to create a synthetic bone graft material branded as TriPore. This can be used to treat a huge range of issues, from fractures and defects due to congenital disorders, to traumatic injury and bone cancer. The team have now developed a new version specifically for spine surgeons - spinal fusion surgery dominates the market.
Orthogem CEO Steve Lane has more than 19 years’ experience in large organisations in the medtech and biopharma sectors, including active involvement in sales, marketing, operations and business development. He has held a number of roles at blue-chip companies like Baxter, Synthes (now part of Johnson & Johnson) and Lorex Synthelabo (now part of Sanofi).
The lead investor
Lead investor Oxford Technology Management initially invested £125,000 in Orthogem, and raised their investment to £245,000 in total. Founded in 1983, Oxford Technology Management (OTM) specialises in making and managing investments in startup and early-stage technology-based businesses with high-growth prospects.
The OTM investment team is made up entirely of scientists and engineers, while its portfolio features unlisted, UK-based technology businesses. Oxford Technology Management is the Fund Manager for the four Oxford Technology Venture Capital Trusts.
Lead on this project was Andrea Mica, who has been working in startups and startup investing since 1999.
[We invested into Orthogem] to achieve a rapid and reliable return on investment. The low manufacturing cost gives the company many different exit and growth options. There is clear interest from one of the distributors to acquire the business once it is FDA registered.