The companies plan to make 3D printing of anatomical models the accepted way of operating, mainly in therapeutic institutions and OEM manufacturers of medical devices
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Med-tech startup Axial3D announced the closing of a $15 million investment round led by a $10 million strategic investment by Stratasys (NASDAQ: SSYS), a leader in polymer 3D printing solutions. This is Stratasys’ first investment in Axial3D, which specializes in the production of anatomical models of the human body. The connection between the two companies will make it possible to offer hospitals and medical device manufacturers 3D printing solutions designed for the patient as well as the caregivers.
Custom 3D printed anatomical models are currently used for planning and a variety of pre-operative diagnostic uses, to improve surgical outcomes, while shortening the time spent in the operating room. They are also used in education and training and during medical device development processes. Creating a 3D printed model from patient scan data typically takes several hours and requires a high level of technical expertise and expensive software licenses. The AI-powered algorithms developed by Axial3D allow healthcare providers to segment CT and MRI scans for these models without significant time investments, specialized skills, and high upfront costs.
Stratasys is a leading supplier of 3D printers, materials and software for anatomical models, when these printers, such as the company’s J850 Digital Anatomy, allow medical customers to create models that not only accurately represent the appearance of human tissues, but are also biomechanically realistic in sewing, cutting or Insertion and deployment of medical devices. A range of Stratasys printers and materials meet stringent FDA standards and are approved for use with Axial3D software to produce anatomical models for surgical planning and pre-operative diagnostic use across multiple specialties.
Stratasys estimates the opportunity inherent in medical 3D printing at approximately 2.8 billion dollars. “Many of the world’s leading hospitals already benefit from our 3D printers for medical models,” he said Dr. Yoav Zeif, CEO of Stratasys. “We believe that by working together with Axial3D, we can remove the barriers to entry for the remaining majority of hospitals in many countries around the world, and dramatically increase the use of 3D printing in preoperative planning so that it is truly a standard part of patient care.” It is about providing a complete solution adapted to customers that is fast, automatic and scalable.”