Oxford Performance Materials LLC Secures $1.2 Million in Funding for Equipment and Facilities
Company expands into medical implant manufacturing
Rocky Hill, Conn., August 4, 2011 – Connecticut Innovations (CI), the state’s quasi-public authority responsible for technology investing and innovation development, today announced that it has provided $1.2 million in funding to Oxford Performance Materials LLC (OPM) of South Windsor, Conn., through its BioScience Facilities Fund. OPM will use the funding for the purchase of an EOSINT P 800 selective laser sintering machine to manufacture medical implants, as well as leasehold improvements at the company’s South Windsor facility.
“We are very pleased that CI has provided funding through its BioScience Facilities Fund for this extremely important project,” said Scot DeFelice, president of OPM. “We have had a long, successful relationship with CI that has resulted in positive financial return on its previous investment, and the growth of jobs and world class technologies in the state. We are exceedingly confident that this particular undertaking will further position our company and the state as leaders in cutting edge biomedical and manufacturing technologies.”
OPM will use the EOSINT P 800 machine to manufacture medical implants from the company’s proprietary OXPEKK® products. These products are made from the material polyether ketone ketone (PEKK), which has properties (e.g. density, elasticity and compressive strength) comparable to human bone. The company, which has traditionally sold its proprietary OXPEKK® products as raw materials, will now be able to provide value-added implant manufacturing in-house with the addition of the EOSINT P 800. It will produce implants using additive fabrication.
OPM will manufacture implants for the spine and for joint replacement, trauma, orthobiologics, bone stimulation, arthroscopy and bracing applications – offering both standard parts and custom parts. Its initial focus will be the production of custom cranial and maxillofacial implants designed directly from a CT scan or MRI.
OPM currently sells its biomedical OXPEKK® products on a global basis.
Peter Longo, president and executive director of CI, said, “With our facilities funding, OPM will be able to embark on state-of-the-art manufacturing in the multi-billion-dollar global implant market. We are excited to provide the financing to make this growth possible.”
About Connecticut Innovations Inc. Connecticut Innovations (CI) is a quasi-public organization dedicated to driving a vibrant, entrepreneurial, technology-based economy in Connecticut. CI stimulates high-tech growth by investing in early-stage Connecticut technology companies, university/industry research collaborations and technology transfer and collaborating with government, business, nonprofit and academic organizations to advance technology growth and promote public policies consistent with CI’s mission. Additionally, CI supports clean energy and energy efficiency initiatives through its administration of the Clean Energy Finance and Investment Authority. For more information on CI, please visit www.ctinnovations.com.
About Oxford Performance Materials LLC Oxford Performance Materials LLC (OPM) is a privately held advanced materials and manufacturing technology company focused on developing solutions that enhance fundamental human sustainability. For more information on OPM, please visit www.oxfordpm.com.
Contacts: Emily Smith Managing Director, External Relations Connecticut Innovations Phone: (860) 257-2337
Nicole Vasile On behalf of Connecticut Innovations Phone: (860) 839-1589 E-mail: firstname.lastname@example.org