Start-up company LBM Sweden develops implants of magnesium alloys that have superior properties as a support for the healing of the bone structure compared to current materials. A major advantage is that the metal is slowly broken down in the body without leaving any residue.
LBM Sweden's magnesium alloys will be used in various orthopedic applications and have physical properties that are comparable to the natural bone. Among other things, the alloys have similar strength, elasticity and stiffness as bone in contrast to, for example, the titanium and stainless steel currently in practice. They are also stronger than the biodegradable polymers also used in some implants. The alloy components are non-toxic, support the bone structure during healing, and degrade slowly without leaving any material behind.
The company's operations are based on the founder Dmytro Orlov's many years of research. He is a Professor of Materials Engineering at Lund University and has worked internationally with materials development for over 20 years, of which the last seven years was at Lund. Complementing Dmytro Orlov’s expertise is company co-founder Steve Miller, an American MedTech professional with over 30 years of experience in product development and commercialization, which also includes selling three successful start-ups.
– Our goal is to make implants for orthopedics, among other things, that are better than the existing ones. I learned a lot during SmiLe’s Bootcamp development program for early-stage HealthTech, MedTech and eHealth start-ups, and after all the encouragement we received from SmiLe coaches and community, we decided to apply for SmiLe’s Incubator program. We believe the SmiLe´s support in business development, regulatory strategy and commercialization will help us to deliver our product to the market much faster, says Dmytro Orlov, CEO of LBM Sweden.
To date, the company has received external funding from, among others, Lund University Innovation office, Vinnova in the form of innovation checks via SmiLe, Almi as Verification Grant (Verifieringsmedel), and the EU IPO SME Fund.
– It will be very exciting to support Dmytro and Steve to commercialize products based on their innovation in materials technology, which have great potential to improve orthopedic care. Also, advanced materials are one of the focus areas that Region Skåne has identified where the region has world-class expertise, and therefore is investing in to strengthen the innovative power in Skåne, says Lina Boreson, COO of SmiLe Incubator.
For more information, please contact: Lina Boreson, COO of SmiLe Incubator, +46 (0)703-781279, firstname.lastname@example.org
SmiLe Incubator is a life science business incubator based in Medicon Village in Lund, Sweden. SmiLe helps entrepreneurs commercialize their ideas. There are currently 30 companies in SmiLe which, together with alumni companies, have attracted more than EUR 664 million in venture capital to date since 2014. SmiLe offers excellent business coaching, a broad international network of contacts and a dynamic community, as well as well-equipped laboratories which is unique of its kind in Sweden. SmiLe is a non-profit organization and receives basic funding from Region Skåne, Lund Municipality, Lund University and Medicon Village. SmiLe´s sponsors are Agilent, Sparbanken Skåne, Awa, Høiberg, Prevas, Setterwalls, Zacco, Magle Chemoswed, NanoTemper Technologies, Phase Holographic Imaging and ChemoMetec. SmiLe’s 20 listed alumni companies have a market capitalization of more than EUR 824 million (Q4 2021). www.smileincubator.life