UK - Oxford Capital exits Orthomimetics

The deal values Orthomimetics at EUR 16m.

Cambridge-based Orthomimetics was founded in 2005 as a spin-out from the University of Cambridge and the Massachusetts Institute of Technology. Its products are based on a leading collagen biomaterials platform for the production of scaffolds for cartilage, meniscus, ligament and tendon repair. The company's flagship product, Chondromimetic, is an off-the-shelf resorbable implant for the minimally invasive repair of small cartilage and underlying bone defects. The products has received European market approval and is close to entering the market. The acquisition is expected to broaden TiGenix's biomaterials expertise and development focus towards regenerative medicine products for meniscus, tendon and ligaments.

Oxford Capital participated in a £5m Series-A funding round for the business in January 2007.

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• Exits
• UK / Ireland