Adapttech, headquartered in Birmingham, England, earned a £1.3 million (about $1.71 million) funding round for development of tool that is said to offer a faster and easier way to fit lower-limb prostheses and monitor patients’ rehabilitation. The company will use the funds to help finalize clinical trials and commercialize the product.
The tool, called INSIGHT, consists of a scanner that creates a 3D model of the prosthetic socket, a wearable device that fits between the residual limb and the prosthesis and gathers data to pinpoint problem areas where the socket may need adjusting; and an app, through which healthcare professionals can access the results. It has received positive feedback from trials in Portugal and a new clinical trial will start soon at the West Midlands Rehabilitation Centre in Birmingham with the United Kingdom’s National Health Service; OPCare, an O&P facility headquartered in Oxfordshire, England; and Birmingham Healthcare Partners.
“This funding round will allow us to finish all the certification processes and start selling in Europe,” said Frederico Carpinteiro, president of Adapttech. “The input from investors, their network and know-how will also help us achieve our milestones faster.”
The funding came from the Midlands Engine Investment Fund Proof of Concept & Early Stage Fund, managed by Mercia; Mercia’s Enterprise Investment Scheme funds; Hovione Capital; and private investors.
“Fitting a prosthesis takes a lot of time because technicians rely on the patient reporting discomfort and a trial and error methodology,” said Peter Dines, Mercia CEO. “Adapttech’s smart solution provides objective data to speed up the process and create a comfortable prosthesis as soon as possible. The funds will allow the company to finalize clinical studies, [and] build a sales and marketing team to commercialize the product in Europe with a view to entering the U. S. market in the near future.”
