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Evonik invests in Chinese 3D-printing start-up making medical implants

September 12/2019

MOSCOW (MRC) -- Evonik Venture Capital has invested in a 3D-printing start-up in China that makes implants for neuro and spine surgery, said company.

The technology enables faster recovery and fewer post-operation checks for patients and less surgical risk for doctors. Evonik is the lead investor in a high single-digit million-euro round of fundraising for Shanghai-based Meditool.

This is our first direct investment in China and our first direct investment after initiating our second venture capital fund this year, said Bernhard Mohr, head of Evonik Venture Capital. Meditool is a good example of how venture capital is helping Evonik secure access to disruptive technologies."

Meditool has developed its own hardware and software systems. The software can read and process images directly from commonly used magnetic resonance imaging (MRI) or computed tomography scan (CT) devices. A readily printable 3D model is generated by the software and sent to the printer. The implants are 3D printed with a high-performance polymer supplied by Evonik called Polyetheretherketone (PEEK).

Meditools technology pays directly into our strategy of expanding in high-tech applications for our additive manufacturing materials, said Thomas Grosse-Puppendahl, head of the Evoniks innovation growth field Additive Manufacturing. Medical applications are of particular interest and our high performance polymers have already been proven as a reliable implant material in other applications such as dental."

Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-oriented innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evoniks corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world. In fiscal 2018, the enterprise with more than 32,000 employees generated sales of 13.3 billion and an operating profit (adjusted EBITDA) of 2.15 billion from continuing operations.


mrcplast.com
Author:Anna Larionova
Tags:compounding, compounds, Evonik, Evonik Industries.
Category:General News
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