Venture Talk #3
with Florian Coppers and Kilian Reuß, from medical magnesium.
Finding ways to improve healthcare has become a top priority. So naturally, we are delighted to have had Aachen-based start-up medical magnesium, a trailblazer in modern medical technology, join us for the third episode of our #VentureTalk series. Florian Coppers and Kilian Reuß, two of the innovative minds behind medical magnesium, sat down with Niklas Kurth from the RWTH Innovation Entrepreneurship Center.
Niklas: Florian and Kilian, please tell us more about medical magnesium. What is your business model and who are your customers?
Kilian: medical magnesium was founded to help patients receive better healthcare through our mm.X implant products. We provide bioabsorbable implants to orthopaedic and trauma surgeons, our customers. The mm.X implant platform does not require removal surgery, as the magnesium-based implants are absorbed by the metabolism. Magnesium technology combines bioabsorption with mechanical stability, which is required to stabilise fractures and to allow union. This is very unique around implant materials and enables surgeons to provide better patient care.
Niklas: You have just announced an important milestone. What is special about your product, what is your USP?
Kilian: We just launched the first CE marking of three implants based on mm.X technology. This regulatory approval allows us to sell our first products and state the performance of mm.X, backed with real market data with high clinical evidence. Using our implants, surgeons can eliminate a second removal surgery. This way we hope to contribute to better patient outcomes such as faster return to gainful activity, less pain and significant reduction of the healing phase at lower costs.
Niklas: Looking to the future, what are the next steps and investment plans of medical magnesium?
Florian: Accessing the US market with our technology will definitely help to further establish our mm.X technology and make it available to more patients. This helps us to expand our options for fundraising, as the US market is very attractive for medical device companies such as medical magnesium.
Around the globe and especially in EU, the total cost of healthcare is very much in the focus of attention. In reducing the cost of surgical therapy by eliminating required removal surgeries, we collaborate with several partners to demonstrate the economical benefit of mm.X.
Apart from this, we develop many exciting implant ideas on mm.X, together with our partners in the clinics, and work on regulatory approval for them. mm.X implants offer great potential to young patients. Children’s skeletons still grow and any permanent implant material must be removed in a second surgery under anaesthesia. Together with great surgeons which have an endless list of possible ideas, we hope to make a step towards better options for injured young patients.
Niklas: Please tell us your story about the academic background in Aachen with regards to your entrepreneurial activities?
Kilian: The Aachen network and my time at RWTH Aachen University help every single day during our adventure at medical magnesium. The sheer number of people at RWTH sometimes leads to a certain anonymity, but also to an extensive amount of technological deep dive. Combined with the open and helpful “Rhineland mindset”, there is always someone who knows someone, who helps you with whatever it is. In the end, it is not about the curriculum of mechanical engineering and business administration I completed, but the people I met completing it.
Niklas: Would you do anything differently when choosing the university or subject?
Florian: If I could travel in time, I would try to be even more active in networking, look into more exciting technology and meet more people right from the start of my academic career. This is also the one recommendation I give to all our great students, who complete a thesis or contribute as working students at medical magnesium. The RWTH allows you to gain international experience, dive deeply into research and meet people from different backgrounds. There are probably more amazing universities out there, but I would definitely do it again.
Niklas: A personal question, would you consider working for a large corporation or will you remain a founder for life?
Kilian: One thing I learned during our journey at medical magnesium, is “never say never”. But I will probably always work in a company which strives for a real purpose and has a creative, fast and passionate team, because this is where I perform best. Florian and I have the absolute privilege to work with so many unbelievable people at medical magnesium and take all actions to conserve this team and spirit.
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