13 Minutes in Conversation with Rich Simmonds, CEO of Orthoson
Insights - 14th August 2020
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?
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