Medical technology company ALM Ortho, Inc, based in Portland, Maine, USA, which specialises in the development of additively manufactured titanium orthopaedic implants, has closed its seed funding round. The seed round received investment from Paul DeJuliis, a Private Equity Investor in healthcare and technology startups. The funds will be utilised to aid the company’s submission for FDA 510(K) clearance of its Lateral Intervertebral Fusion Cage and SI Joint Fusion Device for standard and patient-specific indications.
“Investment in ALM Ortho will help advance innovation in the field of Additive Manufacturing for Orthopedics and improve patient outcomes in the years ahead,” stated DeJuliis.
The funding comes as ALM Ortho is scaling to meet the rising demand in Additive Manufacturing for orthopaedics; these initial FDA product submissions will lay a groundwork on which more devices from the company can lay, all of which are planned to leverage AM as a differentiating technology.
The company is strategically positioning itself to combine AM with Artificial Intelligence (AI) to create new possibilities for advanced orthopaedic implants that can enhance patient outcomes. ALM Ortho believes that within the next decade, implants will be bespoke, coupled with preoperative planning, and that AI-based designed will become a minimum expectation.
Partnering with Amplify Additive, Scarborough, Maine, ALM Ortho believes it is poised to deliver the highest-quality implant solutions with shorter times to market.