Stratasys makes a strategic investment in Axial3D
November 14, 2022 — Medical technology startup Axial3D announced the closing of a $15 million investment round led by a $10 million strategic investment from Stratasys Ltd. (NASDAQ: SSYS), a leader in polymer 3D printing solutions. This is Stratasys’ first investment in Axial3D. The two companies will also provide a joint offering to make patient-specific 3D printing solutions more accessible for hospitals and medical device manufacturers to become a mainstream healthcare solution.
Custom 3D printed anatomical models are used for pre-surgical planning and diagnosis to improve patient outcomes while reducing time spent in the operating room. They are also used in education and training, and in the development of medical devices. Creating a 3D printed model from a patient’s scan data normally takes several hours and requires a high level of technical expertise and expensive software licenses. Axial3D’s AI-based algorithms allow healthcare providers to segment CT scans and MRIs for these patterns without large investments of time, specialized skills, and significant upfront costs.
Stratasys is a leading supplier of 3D printers, materials and software for these anatomical models. The company’s J850 Digital Anatomy 3D printer enables medical customers to create models that not only accurately represent the appearance of human tissue, but are also biomechanically realistic when suturing, cutting or inserting and deployment of medical devices. A range of Stratasys printers and materials have been validated and FDA 510(k) cleared with Axial3D software to produce anatomical models for preoperative surgical planning and diagnostic use in multiple specialties.
“We are proud to partner with Stratasys and have always believed in their technology and, more importantly, their vision for 3D printing in healthcare,” said Axial3D CEO Roger Johnston. “We believe that to move the industry from early adopters to mainstream, we need to improve the accessibility of healthcare models so that hospitals and medical device manufacturers can scale their patient-specific programs. Our joint offerings will be the positive and disruptive catalyst medical 3D printing needs to meet the accessibility of 3D printing.
Stratasys estimated the medical 3D printing opportunity at around $2.8 billion.
“Many of the world’s leading hospitals are already benefiting from our MediJet and Digital Anatomy 3D printers for medical models,” said Dr. Yoav Zeif, CEO of Stratasys. “We believe that by working with Axial3D, we can remove the barriers to entry for the remaining majority of hospitals in many countries around the world, dramatically increasing the use of 3D printing in pre-surgical planning so that “It’s really becoming a standard part of patient care. It’s about providing customers with a complete solution that’s tailored, fast, automated and scalable.”
Axial3D (booth 8209) and Stratasys (booth 8312) will exhibit and further discuss their joint collaboration plans at the RSNA 2022 Annual Meeting and Trade Show sponsored by the Radiological Society of North America in Chicago, November 27-December 1 .
For more information: www.axial3D.com
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