4D Medicine, previously known as 4D Biomaterials, a spin-out from the Universities of Birmingham and Warwick, has raised £3.4m ($4.4m) in a Series A investment. The funding round was backed by Oshen Holdings, 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. The latest funding brings the total raised to date to £5m. The company is preparing to raise a Series B investment early next year.
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4D Medicine is a UK-based company whose innovative biomaterial has potential to be used for a wide range of 3D printed implants and surgical devices. Its product, 4Degra, is a resorbable biomaterial that is being used to develop implants such as orthopedic 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.
“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 orthopedic market,” said Philip Smith, CEO of 4D Medicine.
“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,” said Didier Cowling, Partner at Oshen Holdings.
“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,” said Doug Quinn, Partner at DSW Ventures.
“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,” said Jason Druker, Portfolio Manager at SFC Capital.
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.
