axial3D
axial3D
axial3D
Medical 3D printing company axial3D is to expand into the USA after closing a $3m funding round.
The Belfast-based firm specialises in the additive manufacture of patient-specific medical models and is hoping to take this know-how into the American market. With an office to open in America, axial3D is currently creating roles ahead of a recruitment drive. The move comes after a successful collaboration with Tallahassee Memorial Healthcare (TMH), which has been nominated for the 2019 TCT Healthcare Application Award.
TMH partnered with axial3D to print a model of a patient’s skull ahead of a brain aneurysm procedure which was carried about because said patient was at ‘very high’ risk of suffering a stroke after the inner wall of a blood vessel had failed. Having the model allowed surgeons to assess the location of the affected blood vessels in relation to other brain structures and implement a stent that would bypass the ruptured area and allow the aneurysm to clot and heal independently. After a successful surgery, the patient’s risk of having a stroke is said to be ‘close to zero.’
Having aided a complex procedure at a reputable American healthcare centre, axial3D is now looking to link up with other institutions across the country. It will harness some of the $3m it has raised to enact its American operations, while some is being put towards to the enhancement of its service offering.
Tori Schneider/Tallahassee Democrat
axial 3D skull TMH
3D model of a patient's skull ahead of a brain aneurysm procedure at TMH.
On the axial3D agenda is the development of its machine learning capabilities to streamline the process of turning 3D images into 3D models. Through the axial3D insight platform, the company receives imaging data through an online portal, quotes the cost to produce a model from that information, prints the part, and ships back to the surgeons within 48 hours. But through participation in Digital Catapult's Machine Intelligence Garage programme, axial3D is hoping to find a better way of preparing data for medical modelling. Using machine learning, the company will look to take human subjectivity out of the image segmentation equation, leaning on computer vision algorithms to achieve higher levels of accuracy and repeatability, and ultimately build on the successes it is having with the likes of TMH.
“Continuous innovation is crucial to bring the best solutions to market and keep up with customer demand,” commented Daniel Crawford, CEO at axial3D. “Following our recent collaborations with Tallahassee Memorial Healthcare and University Hospital Basel, we will focus on the North American and European markets. This includes opening an office in the USA and recruiting more talent in our team, particularly growing our machine learning capability. This will enable us to continue to innovate and find new ways to bring 3D printing on-demand to the entire healthcare sector.”
“axial3D has built a scalable, accessible platform for clinicians to access 3D printing without the capital expenditure or manpower traditionally required,” offered Dr. Christopher Rumana, Neurosurgeon & Chairman of the Board at TMH. “Having been in the medical field for over two decades, I have seen how technology improves patient care. With TMH being a user of axial3D's service, our own patients have been positively impacted by the use of 3D printing. I want to see this service adopted in more healthcare institutions across the USA so that everyone who needs it can benefit from the technology.”
The investment round that is set to accelerate these developments at axial3D was led by Imprimatur Capital Fund, an international science and technology investor, with contributions coming from previous investors Techstart Ventures, Clarendon Fund Managers, and Innovation Ulster Ltd. A US consortium of several surgical investors also took part in the round.
“The closure of this investment round marks an important milestone for our company,” added Crawford. “It will accelerate our growth within our expanding markets and enable us to bring our 3D printing solution to more healthcare organisations, helping them to drive down costs, improve compliance and, ultimately, enhance patient care.”
