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Magloy Tech

Magloy Tech specialize in the development of customized magnesium-based alloys that can be used to develop bioresorbable medical devices.
2020
1-10
1-10
Singapore, Central Region, Singapore

Investment Funding

Last Funding Stage

Seed

Total Funding Amount

$517.2K

Last Funding Amount

$700.0K

Last Funding Date

13-12-2019

Startup Stage

Seed

People

Founders

About

Magloy Tech is a spin-off from the National University of Singapore co-founded by a team of material scientists. We specialize in the development of customized magnesium-based alloys that can be used to develop bioresorbable medical devices. Currently used osteosynthesis implants for fracture fixation procedures are made of titanium or steel and need to be removed by a revision surgery following healing and if they trigger side effects like pain and necrosis. This brings an imperative physical, financial, and emotional burden to the patient. To alleviate this problem, novel materials are being developed that: a) display controlled degradation and resorption by the patient, b) possess necessary load-bearing strength to re-align and support the fracture region, and c) are made up of biocompatible elements. Biodegradable implants commercially available in the market are synthetic polymers having low strength with application constrained to non-load-bearing veterinary and human orthopedic fixation procedures. Further, currently developed bioresorbable magnesium implants contain significant amounts of Rare-Earth Elements that are expensive and capable of causing latent toxicity in the human body. Magloy Tech has developed OrthoMag, a disruptive material for developing bioresorbable magnesium implants for temporary implant applications. Through a patented green manufacturing process, we have obtained material that: a) is formed only by carefully chosen endogenous elements, b) does not create unacceptable cytotoxicity at cells, tissues, and organ levels, c) possesses superior mechanical properties assisting in functional healing of bone, and d) controlled degradation over a period of time.

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