13 Minutes in Conversation with Rich Simmonds, CEO of Orthoson
Join OIC Partner James Mallinson for Episode 7 of the OIC Conversations Series.
Formally spun out of OTIF portfolio company OxSonics in 2015, OrthoSon is using ultrasound technology to develop a safe and cost-effective procedure for the treatment of degenerative disc disease, for which there are few current therapies except vertebral fusion. The procedure is a minimally-invasive, incision-free, first-line therapy designed to restore the biomechanical properties to degenerated spinal discs. By injecting proprietary Sono-Sensitive Particles (SSPs) into the nucleus pulposus of spinal discs and applying focused ultrasound at a high intensity, degenerate disc nuclei are broken down, allowing a replacement hydrogel material to be injected, restoring healthy biomechanics in the spine.
Questions covered include:
- 00:26 – Tell us a little about yourself and how you came to join Orthoson.
- 01:42 – What is the problem Orthoson is trying to solve?
- 02:47 – How does Orthoson’s technology work?
- 03:44 – How large is the opportunity for Orthoson, both in the UK and globally?
- 04:43 – What is the regulatory framework you have to work within?
- 05:56 – How has the business been funded to date and how much additional funding is required?
- 07:03 – What are the effects of COVID-19 on the business and what are you doing to mitigate these?
- 08:46 – What are the advantages of being a spinout based in Oxford compared to your previous experiences in the MedTech sector?
- 10:01 – What are the most challenging and rewarding aspects of leading a spinout company?
- 10:50 – What are the key goals for the business in the next 12-24 months?
- 11:32 – What is the long-term vision for Orthoson?
Important notice: This communication is for information purposes only. Reliance on the information in this communication, for the purpose of engaging in any investment activity, may expose an individual to a risk of losing all of the funds invested. The information disclosed in this communication does not constitute, or should be considered as, an offer to buy or sell or solicitation of an offer to buy or sell any security or share.