Companies plan strategic partnership to bring 3D printed anatomic models to mainstream adoption for point of care institutions and medical device OEMs

Med-tech startup Axial3D has announced the closing of a $15 million investment round led by a strategic investment of $10 million from Stratasys Ltd. (NASDAQ: SSYS), a leader in polymer 3D printing solutions. This is Stratasys' first investment in Axial3D. The two companies also will be providing a joint offering to make patient-specific 3D printing solutions for hospitals and medical device manufacturers more accessible so it becomes a mainstream healthcare solution.

Personalized 3D printed anatomic models are used for pre-surgical planning and diagnostic use to improve patient outcomes while shortening time spent in the operating room. They are also used in education and training, and medical device development. Creating a 3D printed model from a patient's scan data normally takes several hours and requires a high level of technical expertise and expensive software licenses. Axial3D's artificial intelligence-powered algorithms enable healthcare providers to segment CT and MRI scans for these models without significant investments in time, specialized skills and large upfront costs.

Stratasys is a leading provider of the 3D printers, materials and software for these anatomic models. The company's J850™ Digital Anatomy™ 3D printer enables medical customers to create models that not only accurately represent the appearance of human tissue but are also biomechanically realistic while suturing, cutting, or inserting and deploying medical devices. A range of Stratasys printers and materials have been validated and FDA 510(k) cleared with Axial3D software to produce anatomic models for pre-operative surgical planning and diagnostic use across multiple specialties.

"We are proud to be partnering with Stratasys, and have always believed in their technology and, more importantly, their vision for 3D printing in healthcare," said Axial3D CEO Roger Johnston. "We believe that to move the industry from early adopters to the mainstream, we need to improve the accessibility of models for healthcare so hospitals and medical device manufacturers can scale their patient-specific programs. Our joint offerings will be the positive, disruptive catalyst that medical 3D printing needs to address 3D printing accessibility."

Stratasys has estimated the opportunity for medical 3D printing at approximately $2.8 billion.

"Many of the world's leading hospitals are already benefiting from our MediJet and Digital Anatomy 3D printers for medical models," said Dr. Yoav Zeif, CEO of Stratasys. "We believe that by working together with Axial3D, we can remove the barriers to entry for the remaining majority of hospitals in many countries around the world, dramatically growing the use of 3D printing in pre-surgical planning so it is truly a standard part of patient care. This is about providing a complete tailored solution for customers that is fast, automated and scalable."

Axial3D (booth 8209) and Stratasys (booth 8312) will both exhibit and further discuss their shared collaboration plans at the RSNA 2022 annual meeting and tradeshow sponsored by the Radiological Society of North America in Chicago, Nov. 27 through Dec. 1.

About Axial3D

Axial3D, a leader in medical segmentation and 3D printing, provides hospitals and medical device manufacturers access to an easy to use, fast, affordable way to transform 2D medical image data into 3D. Through our 510(k) cleared, cloud-based segmentation platform, we convert patients' DICOM data into accurate and data rich 3D visualizations, printable files, and 3D models printed with Stratasys print technology in an efficient and scalable way. Our mission is to make patient-specific 3D solutions accessible to all, enabling surgeons, radiologists, and engineers the resources to improve patient outcomes and accelerate patient specific programs. Visit axial3D.com.

About Stratasys

Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world's leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.

To learn more about Stratasys, visit www.stratasys.com, the Stratasys blog, Twitter, LinkedIn, or Facebook. Stratasys reserves the right to utilize any of the foregoing social media platforms, including the company's websites, to share material, non-public information pursuant to the SEC's Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.

Stratasys, Digital Anatomy, and MediJet are trademarks or registered trademarks of Stratasys Ltd. and/or its affiliates. All other trademarks are the property of their respective owners, and Stratasys assumes no responsibility with regard to the selection, performance, or use of these non-Stratasys products.