BICO (formerly Cellink) announced cooperation with Nanochon – a startup developing regenerative joint prostheses. Under the terms of the contract, Nanochon will purchase USD 1.5 million worth of products and services from SCIENION, a subsidiary of BICO, to develop 3D-printed regenerative joint implants. The innovative technology developed by Nanochon can provide patients with faster and more effective recovery, while reducing costs for healthcare providers, insurance companies and patients.
Under the contract, SCIENION will act as a contract manufacturer of implants for cartilage regeneration for Nanochon. The process will use several key technologies from the BICO portfolio to enable this first-of-its-kind solution. The deal will also make SCIENION a key production partner for Nanochon in the coming decade. BICO will also invest $ 400,000 in a Nanochon Seed funding round to help advance Nanochon regenerative medicine technology and tissue engineering. The startup will use the new funds to scale production processes and accelerate clinical trials.
Joint replacement surgery has proven to be one of the most common surgeries among the rapidly aging US population – with over 7 million procedures performed each year. The U.S. Medicare and Medicaid Services Centers estimate that aging Americans will increase their annual health care spending to $ 6 trillion by 2027, most of which will come from aging disorders such as osteoporosis.
Current joint replacement usually fails after 15-20 years due to the lack of organic cartilage growth and the highly destructive nature of the replacement surgery itself. The novel Nanochon regenerative method addresses this problem by replacing highly invasive replacement surgery with a minimally invasive procedure in which 3D-printed structures made of a novel polymer nanomaterial are implanted into damaged cartilage to promote healthy cartilage growth.
Source: BICO press release