Intelligent Orthopaedics Ltd, a Stoke-on-Trent, UK-based company that specializes in the design, development, manufacture and distribution of orthopaedic trauma devices, has received £600k in equity financing.
Investors include Catapult Venture Managers, which committed £350k, and existing investors Mercia Fund Management, which committed £250k.
The funds will enable the company to accelerate the roll out of its core product “STORM” (Staffordshire Orthopaedic Reduction Machine), which is a device that is used to realign fractures of the tibia prior to surgical fixation, which has already proved successful in clinical practice across the world.
Intelligent Orthopaedics intends to establish a sales team, which will focus on developing the US and German markets. In addition, the company will use the funds to advance development of two new products to be launched in the next twelve months.
Formed in 2005 and led by CEO Susan Hartman and Chairman Alistair Taylor, Intelligent Orthopaedics has ISO13485 certification, CE marked products and FDA clearance to market.