Stanmore Implants (Stanmore), specialists in the design and manufacture of patient specific implants for complex orthopaedic reconstructions, has received GBP4m in equity investment from Imperial Innovations Group plc.
 

This news follows the announcement in June that Stanmore had received US FDA 510k approval for its Juvenile Tumour System (JTS) non-invasive extendible distal femoral replacement (JTS implant), for use in paediatric orthopaedic oncology surgery. Stanmore is now launching the JTS in the United States market and the proceeds will be used in part to help build a specialist sales force for this important product. The proceeds will also be used to support the development of Stanmore’s other innovative and differentiated new technologies.
These include the Savile Row System, the world’s first fully personalised early knee replacement surgery system that combines patient specific implants with a proprietary robotic intra-operative system, and ITAP, a novel approach to enabling the direct attachment of an exoprosthesis to the skeleton of amputees, thereby giving the patient greater mobility and comfort over traditional socket based systems.
 
Prior to today’s fundraising, Stanmore has previously raised finance from Abingworth, specialist investors in life sciences, as well as Ivy Capital and MDY Healthcare plc. 
 
In addition to the financing, Stanmore welcomes John Holden to the Board of Stanmore as a non-executive director. He is Director of Investments at Imperial Innovations having joined in 2007. He spent the first six years of his career as a corporate financier in the City and then eight years with 3i. 
 
Brian Steer, Executive Chairman of Stanmore, says: “We are delighted to welcome Imperial Innovations to our shareholder base. Whilst we have a solid core business generating increased revenues, we now have the funds to accelerate the development of our new, groundbreaking technologies and drive the commercialisation of our non-invasive extendible implants in the UK and the US.”

Susan Searle (pictured), Imperial Innovations’ CEO, says: “We are excited to work with Stanmore and believe their unique product and service offering is well placed to grow in the future. We look forward to working with Brian and his team as Stanmore enters the next phase in its growth.”