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Next gen orthopeadic implant innovator OSSTEC has seen its share price triple since the Access EIS Fund invested in March 2023. We spoke to CEO and Founder, Maxwell Munford, about the development and growth of a groundbreaking medtech company and what lies ahead.
SyndicateRoom: In a few sentences, tell us what your company does.
Max Munford, Osstec Founder & CEO: OSSTEC is a medical technology company developing next-generation orthopaedic implants. By leveraging innovative 3D-printing techniques, we create implants with biomimetic, cementless fixation and articulating surfaces that enhance functionality and longevity. Our goal is to improve patient outcomes by providing a more durable, stable, and efficient solution for knee replacement surgeries.
SR: How are you feeling about the progress your business has made so far; what are your plans for the immediate future and the longer term?
MM: We are very pleased with our progress, particularly after securing £2.5 million in funding in March 2025. This investment is helping us pursue regulatory approval, prepare for market launch, and expand our team. In the immediate future, our focus is on achieving certification and initiating clinical trials. Long term, we aim to establish OSSTEC as a leader in orthopaedic implant technology and expand our product portfolio.
SR: What unique challenges face businesses that operate in your sector, and how has your company overcome them?
MM: One of the biggest challenges in the orthopaedic sector is implant failure due to loosening over time. OSSTEC addresses this issue with a hybrid fixation design and a 3D-printed porous lattice that mimics natural bone structures. This approach enhances initial stability and promotes bone integration, reducing the risk of long-term complications. More broadly our implants support the growth in outpatient care to treat patients and return them home on the same day.
SR: Tell us more about the state of your sector at this time; why should investors be excited about it; why is now an important or interesting time for it; and do you feel artificial intelligence has made or will make a significant impact on it?
MM: The orthopaedic sector is undergoing significant advancements, driven by an aging population and a growing number of younger patients requiring knee replacements. With 1.3 million knee replacements performed globally each year, demand for improved implant technology is high. Investors should be excited by the opportunity to back companies that address key challenges in patient outcomes. While AI has potential applications in diagnostics and surgical planning, OSSTEC's focus remains on cutting-edge engineering, material science and value add innovations to patient care.
SR: How important has angel and venture capital funding been to growth?
MM: Venture capital and grant funding have been critical in OSSTEC’s growth. To date, we have raised £4.5 million, which has supported product development, research, and team expansion. This funding is crucial for navigating regulatory pathways and preparing for commercialisation.
SR: In what is widely considered a more difficult funding environment, what do you feel has set your business apart for investors?
MM: Our innovative technology, clear clinical need and strong team have made OSSTEC stand out. Investors recognise the potential of our implants to solve a long-standing problem in orthopaedics, which aligns with their interest in impactful, high-growth opportunities in healthcare. Additionally, we have built strong investor relationships long before fundraising, ensuring trust and momentum when securing capital. Our existing investors have been incredibly supportive through the current market.
SR: How has investor behaviour changed in the current climate; what qualities do startups need to be able to demonstrate for today’s investor?
MM: Investors are increasingly prioritizing startups with clear market demand, strong technical differentiation, and a well-defined path to commercialisation. I'd say there is a clear trend for investors in MedTech to move to a later stage, sometimes with larger tickets, to mitigate risk. I have spoken to many MedTech investors both in UK and US who simply say they are holding their powder dry at the moment. On the other side of the table, I think founders also need to recognise that due diligence is a two-way process - it’s just as important to evaluate potential investors for alignment and reputation with their portfolio companies.
SR: If you were to start your business from scratch again, is there anything you would do differently as a founder?
MM: We would engage with regulatory bodies and commercial inputs earlier in the development process to streamline approvals and avoid potential roadblocks. Additionally, establishing strategic partnerships sooner could have accelerated our timeline to market. In terms of fundraising, we would have focused even more on nurturing investor relationships early to create momentum before officially opening a round. All of this is easier said than done when you're juggling development, team building and fundraising all at the same time!
SR: What advice would you give to other founders in the early stages of starting a business?
MM: Build a strong, interdisciplinary team early on and ensure you have a clear vision for your product. Adaptability is key - be prepared for setbacks, seek mentorship and continuously refine your approach based on data, feedback and research. Additionally, fundraising should be viewed as an ongoing process, not just a one-time event. Regular check-ins with potential investors can significantly improve the chances of securing funding when needed. More founders should get in the mindset of "what is best for the company", rather than "what is best for me" earlier. You see this mistake often especially with founding cap tables and early strategy.
SR: What would you tell investors looking to invest in startups, and in your sector specifically?
MM: The demand for innovative MedTech solutions is growing, making this an exciting time to invest. Fields such as AI and digital health have been popular with investors and seen growth compared to hardtech, but these areas often include risks across business model maturity, defensibility and IP and lack of regulatory maturity. Investors should maintain conviction in areas outside AI and digital health. Startups like OSSTEC that focus on real clinical needs, backed by advanced technology, offer a unique opportunity for impactful and profitable investments.
Invest in companies like Osstec with the Access EIS Fund
Osstech is part of Cambridge-based investment fund SyndicateRoom’s Access EIS Fund portfolio, which specialises in backing high-growth startups in the UK. Its approach emphasises co-investing with angel investors and building large portfolios to optimise growth potential and minimise risk. Osstec is one of a number of companies in the Access portfolio seeing growth exceeding 200%.
