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OrthoMimetics Receives £600K From The TSB For Development Of Tissue Regeneration Product


10/22/2008 2:43:02 PM

Cambridge, UK, Wednesday 22 October 2008 -- Orthomimetics, the Cambridge based medical device company, continues to broaden its product portfolio with a third grant of Government funding.

This £600,000 Technology Strategy Board (TSB) grant will support an R&D project for improving joint tissue regeneration. It is based on the use of a combination cell therapy technique with OM's tissue specific 3-D scaffolds.

It builds on an existing grant portfolio, funded by the TSB, that will enable OM to develop a complete range of treatment options for cartilage, ligament and tendon repair in joints. This therapeutic approach offers the potential for improving the effectiveness of treatments for sports injuries, trauma and degenerative conditions using minimally invasive surgical procedures, extending the active lifestyles of patients well into their later years.

In developing the cell based technology for tissue regeneration, OM will be collaborating with the Orthopaedic Research Unit, a renowned Centre of Excellence for orthopaedic research at Addenbrooke's Hospital, University of Cambridge and Devro plc, an established supplier of medical grade collagen.

Andrew Lynn, CEO of OrthoMimetics commented: “This is an exciting project that holds the potential to firmly establish the link between Orthomimetics’ near-market products and emerging cell therapies. The UK Government’s decision to continue supporting the future of healthcare shows tremendous foresight, and we are delighted to be playing an important part in this initiative.”

Orthomimetics Limited is a medical technology company that specialises in the design, development, and manufacture of products for the treatment of sports injuries, trauma other conditions that affect knees, ankles and other articular joints. Formed in 2005 as the first spin-out venture from the Cambridge-MIT Institute, the company is bringing to market a line of medical-device products designed to improve the treatment outcome of first-line surgical procedures for the regenerative repair of articular cartilage, meniscus, ligament and tendon injuries using natural biomaterials. These products are engineered to be compatible with existing surgical techniques and to work in combination with emerging cell- and biologics-based products.

For further information on Orthomimetics please go to our website: www.orthomimetics.com or contact Katherine Webster: kbw@orthomimetics.com

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