OSSTEC raises $8 million to support US launch of cementless metal AM knee implants
OSSTEC, a UK company originating from Imperial College London that develops cementless joint replacement implants using metal Additive Manufacturing, has secured $8 million to support the development and planned US introduction of its ASCENT cementless partial knee replacement system. The funding was led by London-based EMBRYO Ventures, with participation from Neovate Capital, New Wave Ventures, OTIF Ventures and Empirical Ventures.
Founded in 2021, OSSTEC is an orthopaedic company that specialises in cementless joint replacement implants using metal Additive Manufacturing technology.
The funding will support OSSTEC in progressing its ASCENT system and CLARITY instrumentation towards FDA clearance, ahead of its first planned procedures involving human patients in the US during the first half of 2027. Neither ASCENT nor CLARITY has received FDA clearance, and neither is currently available for sale in the US.
The funding will also support further development of ASCENT’s underlying technology, which uses an additively manufactured biomimetic fixation platform designed to enable biological fixation without cement.
“This financing moves our focus from preparation to patients,” said Max Munford, PhD, Founder and CEO, OSSTEC. “Surgeons tell us they would offer a partial knee to more patients if they could use next-generation cementless technology. ASCENT is designed to give them that, integrated with a familiar, streamlined surgical workflow, and the platform behind it is built to go further, with a pipeline of cementless applications beyond the knee.”
“We are excited to lead this financing round in OSSTEC, representing an exceptional opportunity to advance partial knee replacement. With its next-generation implant technology approaching first clinical use, we look forward to supporting the company in its ambition to improve patient outcomes and drive greater operational efficiency,” said Dr Arash Moavenian, Chief Executive, EMBRYO Ventures.
