Orthopaedic Research UK announces first start-up investment
Orthopaedic Research UK (ORUK) has announced its first investment as part of the newly launched Ronald Furlong Fund, established this year in memory of the charity’s founder.
The charity has invested in Renovos, a company from the University of Southampton, who will receive the first investment from the newly launched partnership between ORUK and HS.
The £140,000 investment will support the biotech entrepreneurs in solving a key unmet need for patients with painful and debilitating bone and joint conditions.
The company is pioneering a nanoclay gel technology platform for medical applications to address the need for long term tissue regeneration.
Dr Arash Angadji, CEO of ORUK said:
“We are the first charity supporting start-ups with a focus on musculoskeletal health in the UK. The Ronald Furlong Fund initiative will play an important role in assisting entrepreneurs and innovators to quickly turn ideas into reality, with measurable benefits for the entire healthcare ecosystem. Effective collaboration with HS. was instrumental in identifying Renovos and their exciting technology, and I am delighted to welcome them as ORUK’s first investment.”
Professor Richard OC Oreffo, Founder and CSO of Renovos said:
“We are delighted to receive support from ORUK, which will aid the development of our next generation orthopaedic regenerative medicine solutions, harnessing nanoclay gels to deliver bone forming agents safely and cost effectively. The partnership will significantly enhance Renovos’ ability to further develop innovative technologies to support the ageing population as well as younger, active individuals.”
Dr James Somauroo, HS. Founding Partner said:
“It quickly became apparent that Renovos has the potential to fundamentally change the way extremely powerful and sometimes harmful drugs are given around bone. During the interview phase we were impressed by the immense knowledge and expertise of the team and we’re now excited to join the journey and to use our networks to help take them to the next level.”
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