Eventum Orthopaedics, based in Yorkshire, has raised £2.5 million in a Series A funding round for a device that improves knee replacement success rates. The round landed investments from NPIF – Mercia Equity Finance, managed by Mercia and is part of the Northern Powerhouse Investment Fund, Mercia’s EIS funds and private investors, including orthopedic surgeons.
Eventum Orthopaedics will use the funds to accelerate production, grow its sales and technical team and apply for FDA approval in the US.
John Naybour, Eventum’s CEO, said: “The Eventum team has done a massive amount of work in a short space of time in developing Quadsense and getting it approved for clinical use. We are now excited to start scaling up the team to commercialise the product, as well as bringing further innovations to the orthopaedics market.”
The announcement comes around a year after raising £1.4 million in funding in May 2021.
What does Eventum Orthopaedics solve?
Approximately 2 million individuals across the globe undergo total knee replacement surgery annually, and this figure is projected to increase to 3.5 million by 2030. Despite this, research suggests that almost 20% of patients who receive this surgery are not content with the results.
And how?
Founded by John Naybour and Paul Atherton, Eventum Orthopaedics has developed a unique and innovative device with sensor technology that could improve outcomes for patients who have undergone knee replacement operations.
The company’s Quadsense device is capable of gauging the strength exerted by the quadriceps muscles of a patient throughout different leg movements before and during a surgical procedure.
It allows surgeons to position the kneecap to maintain muscle balance and facilitates the recovery of normal knee function post-surgery.
It has now achieved UK CA approval and the ISO13485 standard for medical devices and has been used in 20 operations in New Zealand in conjunction with robotic surgery. Eventum currently employs a team of five but plans to expand that to 12 in the year ahead.
The UK company received UK CA approval and the ISO13485 standard for medical devices. and has been used in 20 operations in New Zealand in conjunction with robotic surgery.
Connie Smith of Mercia added: “Whilst total knee implants have a great track record in terms of survival rates, up to 20 per cent of recipients are still dissatisfied with their outcome. Eventum is pioneering a new approach using sensor technology and machine learning to provide accurate measurements and remove the guesswork associated with current procedures.
