Imperial Innovations invests £4m in Stanmore Implants

Imperial Innovations Group plc, the UK’s leading technology commercialisation and investment company, has made a £4 million investment in Stanmore Implants,  a specialist in the design and manufacture of patient specific implants for complex orthopaedic reconstructions. Following the investment, Innovations will hold a substantial stake in Stanmore Implants.

The proceeds will be used to expand Stanmore’s US and UK sales forces for its current products including the Juvenile Tumour System (“JTS”), a non-invasive extendable implant, and to support Stanmore’s development of its innovative and differentiated new technologies; the Savile Row System, the world’s first fully personalised early knee replacement surgery system, and ITAP, a novel approach enabling the direct attachment of an exoprosthesis to the skeleton of amputees.

Stanmore was originally founded as a spinout from University College London, before being bought by a syndicate of investors led by Abingworth and MDY Healthcare plc in 2008. The Savile Row System is based on intellectual property developed at Imperial College London, around which a new business, Acrobot, was launched. Acrobot, in which Innovations was an original investor, was acquired by Stanmore in August 2010. 

In July 2010, Innovations also signed an exclusive global license with Stanmore Implants for an anatomic knee implant developed by Justin Cobb, Professor of Orthopaedic Surgery and Andrew Amis, Professor of Orthopaedic Biomechanics at Imperial College London. The implant design closely mimics human anatomy and offers the potential for less invasive procedures with greater tissue conservation and associated improved outcomes.

John Holden, Director of Investments at Innovations, is joining Stanmore’s Board as a non-executive director.

Susan Searle, Imperial Innovations’ CEO, said:“This is an ideal opportunity for us to invest in a more developed business where we know and understand the value creation opportunities, particularly as some of the original IP emanated from two of the four universities on which we are focused.

“We have worked closely with the Stanmore management team for some time and with our extensive knowledge of their business we are well positioned to support them as they enter the next stage of their development.”

Brian Steer, Chairman of Stanmore Implants Worldwide, said: “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 US.”