Companies plan strategic partnership to bring 3D printed anatomic models to mainstream adoption for point of care institutions and medical device OEMs
BELFAST, Northern Ireland & REHOVOT, Israel–November 2, 2022 – (BUSINESS WIRE)–Med-tech startup Axial3D has announced the closing of a $15 million investment round led by a strategic investment of $10 million from Stratasys Ltd. (NASDAQ: SSYS), a leader in polymer 3D printing solutions. This is Stratasys’ first investment in Axial3D. The two companies also will be providing a joint offering to make patient-specific 3D printing solutions for hospitals and medical device manufacturers more accessible so it becomes a mainstream healthcare solution.
Personalized 3D printed anatomic models are used for pre-surgical planning and diagnostic use to improve patient outcomes while shortening time spent in the operating room. They are also used in education and training, and medical device development. 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 artificial intelligence-powered algorithms enable healthcare providers to segment CT and MRI scans for these models without significant investments in time, specialized skills and large upfront costs.
Stratasys is a leading provider of the 3D printers, materials and software for these anatomic 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 while suturing, cutting, or inserting and deploying medical devices. A range of Stratasys printers and materials have been validated and FDA 510(k) cleared with Axial3D software to produce anatomic models for pre-operative surgical planning and diagnostic use across multiple specialties.
“We are proud to be partnering 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 the mainstream, we need to improve the accessibility of models for healthcare so hospitals and medical device manufacturers can scale their patient-specific programs. Our joint offerings will be the positive, disruptive catalyst that medical 3D printing needs to address 3D printing accessibility.”
Stratasys has estimated the opportunity for medical 3D printing at approximately $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 together with Axial3D, we can remove the barriers to entry for the remaining majority of hospitals in many countries around the world, dramatically growing the use of 3D printing in pre-surgical planning so it is truly a standard part of patient care. This is about providing a complete tailored solution for customers that is fast, automated and scalable.”
Axial3D (booth 8209) and Stratasys (booth 8312) will both exhibit and further discuss their shared collaboration plans at the RSNA 2022 annual meeting and tradeshow sponsored by the Radiological Society of North America in Chicago, Nov. 27 through Dec. 1.
Axial3D, a leader in medical segmentation and 3D printing, provides hospitals and medical device manufacturers access to an easy to use, fast, affordable way to transform 2D medical image data into 3D. Through our 510(k) cleared, cloud-based segmentation platform, we convert patients’ DICOM data into accurate and data rich 3D visualizations, printable files, and 3D models printed with Stratasys print technology in an efficient and scalable way. Our mission is to make patient-specific 3D solutions accessible to all, enabling surgeons, radiologists, and engineers the resources to improve patient outcomes and accelerate patient specific programs. Visit axial3D.com.
Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.
To learn more about Stratasys, visit www.stratasys.com, the Stratasys blog, Twitter, LinkedIn, or Facebook. Stratasys reserves the right to utilize any of the foregoing social media platforms, including the company’s websites, to share material, non-public information pursuant to the SEC’s Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.
Stratasys, Digital Anatomy, and MediJet are trademarks or registered trademarks of Stratasys Ltd. and/or its affiliates. All other trademarks are the property of their respective owners, and Stratasys assumes no responsibility with regard to the selection, performance, or use of these non-Stratasys products.
Cautionary Statement Regarding Forward-Looking Statements
The statements in this press release regarding Stratasys’s intentions with respect to the proposed transaction are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements relating to the anticipated completion of the combination of MakerBot and Ultimaker, the financial position and prospects of the new combined company, and the desktop 3D printing market. Forward-looking statements are subject to significant risks and uncertainties, and actual results could differ materially from those projected. There can be no assurance that Stratasys will be able to complete the transaction on the anticipated terms, or at all. Important factors that could cause actual results and developments to differ materially from those anticipated in these forward-looking statements include, among other things, risks and uncertainties related to market conditions, satisfaction of customary closing conditions related to the transaction and the risk factors and other matters referred to under “Risk Factors”, and generally in Stratasys’ Annual Report on Form 20-F for the year ended December 31, 2021 filed with the U.S. Securities and Exchange Commission, or SEC, on February 24, 2022, and in other reports that Stratasys furnishes to or files with the SEC from time to time, including, most recently, the report of foreign private issuer on Form 6-K reporting Stratasys’ results for the quarter ended March 31, 2022, furnished to the SEC on May 17, 2022. Readers are urged to carefully review and consider the various disclosures made in Stratasys’ SEC reports, which are designed to advise interested parties of the risks and other factors that may affect its business, financial condition, results of operations and prospects. The forward-looking statements in this release speak only as of this date, and Stratasys disclaims any intent or obligation to revise or update publicly any forward-looking statement except as required by law.
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