Welsh Development Bank Supports Medical Technology Firm with £500,000 Investment
In a significant development for the global healthcare industry, Amotio, a medtech business based in Cwmbran, has secured £810,000 in pre-seed funding. The funding round, led by the Development Bank of Wales, has attracted investment from NLC Health Ventures and ORUK, specialist venture capital funders, and the Wales Technology Seed Fund.
Amotio's innovative technology focuses on developing a medical device designed to remove surgical bone cement during hip operations. The device uses 3D-printing to create a customised surgical cutting guide tailored to the individual patient's joint anatomy, ensuring accurate placement and targeted removal of cement, thereby reducing the risk of damage to the bone or surrounding tissue.
The funding will be instrumental in accelerating research, preclinical testing, and regulatory approval processes, with the aim of bringing this innovative device to the global healthcare market. The technology has the potential to revolutionise post-operative care and recovery times for joint-surgery patients, shortening rehabilitation periods and improving outcomes.
Dr Harry George, Assistant Investment Executive at the Development Bank, believes Amotio's technology has huge potential in orthopaedic treatment. Kim High, Venture Partner and Lead of NLC's OrthoSpine Business Unit, and Margarida Lopes, Investment Associate at NLC Health Ventures, are equally enthusiastic, expressing their pride in partnering with the Development Bank of Wales to help bring Amotio's technology to patients worldwide.
The venture between Amotio and its funding partners reflects the strength of Europe's growing medtech ecosystem. Improved outcomes and faster recovery times could lower healthcare costs related to prolonged hospital stays and rehabilitation, benefiting healthcare systems globally. By reducing intraoperative damage risks, the technology may also reduce the frequency of revision surgeries, positively impacting patient quality of life and resource utilisation in orthopaedics.
Amotio's approach, combining surgeon-engineer collaboration and precision 3D-printed guides, has the potential to set a new standard for surgical interventions in joint replacement and revision surgeries. Iestyn Foster, CEO of Amotio, who joined the business in 2024 to help take its product from concept to commercialisation, is optimistic about the future. The business aims to target medical markets in the US, Europe, and Asia-Pacific.
[1] Amotio, (2023). Amotio Secures £810,000 Pre-Seed Funding to Revolutionise Post-Operative Care for Joint Surgery Patients. [Press Release] [2] Development Bank of Wales, (2023). Amotio Secures £810,000 Pre-Seed Funding to Revolutionise Post-Operative Care for Joint Surgery Patients. [Press Release] [3] NLC Health Ventures, (2023). Amotio Secures £810,000 Pre-Seed Funding to Revolutionise Post-Operative Care for Joint Surgery Patients. [Press Release] [4] ORUK, (2023). Amotio Secures £810,000 Pre-Seed Funding to Revolutionise Post-Operative Care for Joint Surgery Patients. [Press Release]
The funding secured by Amotio will support the development and implementation of their 3D-printing technology in medical devices for orthopaedic treatments. The innovative technology has the potential to revolutionize the global healthcare industry by reducing recovery times and risks during joint surgeries.
