(September 5, 2019, China)
Meditool, headquartered in Shanghai, has received its first direct venture capital investment from Evonik in China
The 3D printed implants for neurological and spinal surgery developed by Maiditu can help patients recover faster and reduce surgical risks
Investing in innovative applications in the field of high-performance polymers will strengthen the growth of Winco's intelligent materials business
Evonik I invested in a company in China thatA startup company based in Shanghai, Maiditu Medical Technology Co., Ltd., produces neurosurgical and spinal surgical implants through 3D printing. The technology held by the company can accelerate the recovery speed of patients, reduce the number of postoperative examinations, and lower surgical risks. Evonik led the investment in this round of financing, with a total amount of several million euros raised.
This is Evonik's first direct investment in China, and also the first direct investment made using the second phase of Evonik's venture capital fund launched this year, "said Bernhard Mohr, the head of Evonik's venture capital The collaboration between Ci and Maiditu demonstrates how venture capital can help Winco acquire disruptive technologies."
Maiditu has developed a hardware and software system that can directly access conventional magnetic resonance imaging（Read and process images in MRI or computed tomography (CT) equipment. Subsequently, the system will generate a 3D model that is easy to print and send it to the printer. Finally, the high-performance polymer polyetheretherketone (PEEK) from Evonik was used as the raw material to produce the implant through 3D printing technology.
The technology of Maiditu will directly help us further advance the development strategy of advanced raw materials in the field of additive manufacturing, "said Thomas Grosse Pupendahl, the head of innovation and growth in additive manufacturing at Evonik. The applications in the medical field are extremely attractive. Our high-performance polymer has been proven to be a reliable implant material and is suitable for other application areas, including dentistry
For patients and doctors,Compared to conventional metal solutions in the current plastic surgery implant market, 3D printed PEEK implants are undoubtedly a revolutionary product. 3D printing makes customization possible. For example, through 3D printing technology, a bone plate can be made that precisely fits the patient's skull, reducing additional surgical risks caused by adjusting the size, shape, or position of the implant. On the other hand, PEEK has poorer thermal conductivity than metals. Therefore, exposure to high and low temperature environments can effectively reduce the risk of implant temperature being too high or too low in the patient's body. In addition, PEEK material has high biocompatibility and is harmless to living tissues. Patients can undergo CT and MRI examinations after surgery.
Maiditu is one of the pioneers in the development of 3D printed PEEK medical implants. Evonik has always been our trusted raw material partner. This investment will further promote the company's development and help us bring innovative solutions to patients and doctors in China first, and then benefit the world, "said Jin Qingyu, co-founder and Chief Technology Officer of Maiditu.
China is a key growth market for Evonik and one of the main driving forces for global innovation, "said Dr. Kolsch, President of Evonik North Asia." China is not only a cradle of leapfrog technology, but also has a huge population base and a growing middle class, driving rapid demand growth. "The Chinese market is the world's second-largest medical implant market, with an expected annual growth rate of 10-15%.
The venture capital department of Evonik has completed two fund investments in China, with McDitou being its first direct investment. Other investors of Maiditu Company include Zhongnuo Venture Capital, Chenxing Venture Capital, and PwC Capital.
The venture capital department of Evonik plays a strategic role in driving the company to become a world-class specialty chemicals company, helping the company successfully acquire disruptive technologies and innovative business models, and providing support for digital transformation. For this reason, Evonik At the beginning of 2019, the second phase of venture capital fund was launched, with a scale of 150 million euros. This move has more than doubled the amount managed by its venture capital fund, reaching a total of 250 million euros.
Evonik VESTAKEEP®; Sell its high-performance polymer polyether ether ketone under the brand name.
