4D Biomaterials, a Nottingham-based medtech that has developed a new biomaterial to be used for 3D printed medical implants, has raised £1.6 million in a funding round. The funding was led by DSW Ventures, with backing from the MEIF Proof of Concept and Early Stage Fund, Mercia and the startup’s existing investor SFC Capital.
The company has developed 4Degra, a 3D-printed biodegradable material that can be printed to exact specifications using an open cell honeycomb structure. The material, which can be used to improve patient outcomes for a variety of conditions, gradually erodes and is expelled from the body as natural tissue grows through the structure.
The new funding will enable the company to develop a range of products in collaboration with medical device firms. 4D Biomaterials will also look to expand the size of its team through the creation of five new roles.
4D Biomaterials CEO Phil Smith said: “I am delighted to welcome DSW Ventures and Mercia on board at this exciting time for the company. The raise was oversubscribed by 60 per cent, helped by the continuing support of SFC Capital and our angel investors. This puts us in a strong position as we move into the next phase of taking our products to market.”
DSW Ventures Investment Executive Ellie Boardman added: “The technology is constantly evolving, and we have been delighted to follow the company’s ongoing progress throughout the investment process. We believe 4D Biomaterials’ technology is truly innovative and have very high hopes for the company’s future.”