Innovation Hub-incubated business wins IPA award
Innovation Hub Maxum Business Incubator graduate business Altis Osteogenic Bone Matrix (OBM) has won first prize at the 2014 Innovation Prize Africa (IPA) awards as the most commercially viable and promising innovation.
Altis OBM, which created the first injectable porcine-derived bone morphogenetic protein medical device used to repair bone injuries and voids through a regenerative biological implant that stimulated the body’s regeneration process, was created by Dr Nicolaas Duneas and Dr Nuno Peres under their initial start-up company Altis Biologics, which received its initial funding from the Innovation Fund and the Technology Innovation Agency.
Altis Biologics would now, upon winning the award, receive $100 000 to further develop the business.
The Altis OBM invention was a fast, safe and efficient alternative to invasive surgery for patients suffering from bone trauma, the Innovation Hub stated in a media release.
“This year’s IPA winners showcase that Africans can find solutions to African challenges. We encourage partners from both the public and the private sectors to coherently work together to support African innovation,” African Innovation Foundation and IPA founder Jean-Claude Bastos de Morais said.
Meanwhile, Duneas said the business was fortunate to be located at the Innovation Hub, in Pretoria, with the incubation at the Maxum Business Incubator having assisted the company to survive a critical juncture in its development.
“We expect that our rapid growth will allow Altis Biologics to graduate to the new Bio-
Park facilities that are under way at the Innovation Hub, with the aim to boost production and exports to our new customer in Brazil,” he said.
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