Imagine a book with several pages frayed or partially torn. But in a few minutes, a three-dimensional (3D) printer manages to reconstruct worn-out pages, printing new ones that are no different from those that existed before. This 3D printer restoration process is a science fiction scenario. Unlike regeneration using 3D printing of cells in problematic organs of the human body, a process that is almost real. This is an innovative regenerative medicine method using a 3D printer, which is the result of many years of applied research and was developed at an experimental stage by PhosPrint. Separation of the Institute of Communications and Computers of the Research University of the National Technical University of Athens. PhosPrint is co-founded by Ioanna Zergioti, professor at the NTUA School of Applied Mathematics and Science, researcher and molecular biologist Apostolos Klinakis, and Maria Pallidou, the company’s chief financial officer.

PhosPrint, one of 75 European deep tech companies, is the only Greek company selected a few days ago by the European Commission for funding through the European Innovation Council (EIC). “To achieve this, it took more than six years of effort and financial assistance in the early stages from the Bodosaki Foundation and the Patras Technology Park. In Greece, getting even a small amount of funding is a feat, and investments today amount to 5 million euros,” notes Ms. Sergioti at K.

PhosPrint is one of 75 European high-tech companies selected a few days ago by the European Union. to provide funding.

But what does PhosPrint’s method include? “17 years ago, I was the first to speak in an international publication about Laser Induced Forward Transfer for printing biomaterials, which is the future of regenerative medicine,” explains Ms. Sergioti, who has immersed herself in laser applications. . The 3D printer, built by the PhosPrint team of scientists, can print 100 million cells in 1.6 minutes and focuses on bladder lesions, with cancer in this area being the fourth most common in Greece. Cell printing occurs during surgery (in vivo) in the affected area, which has been successfully tested in pigs. “The printer operator directs a laser beam at a small container containing the cells we need to print. The beam hits cells at high speed, which are immobilized in tissues and multiply. The short cell printing time makes the method we have developed suitable for surgical operations,” explains Ioanna Sergioti.

According to him, in order for the application to be accepted by clinics and hospitals, after the completion of preclinical trials, it is necessary to successfully pass three different stages of clinical trials (phase 1, 2, 3). Funding provided by the company through the European Innovation Council allows for the first phase of clinical trials, that is, in humans. To this end, PhosPrint is already in preliminary discussions with urological surgeons across the country.

Looking for a strategic investor to deliver the product to clinics

PhosPrint’s business plan provides for five years of profit and an estimated turnover of more than 7 million euros. The commercialization of the technology includes the sale of printers and protocol for their use in hospitals, as well as the training of technicians who will operate the printers. But until it reaches this point, the startup has to go uphill. His selection by the European Innovation Council implies a total liquidity of €2.8 million, of which €800,000 is to be contributed by PhosPrint, as is the structure of the particular financial mechanism.

As Ms. Sergioti points out, if there is no investor in Greece, there are two options. Either the transfer of at least part of the company’s activities abroad, or the attraction of borrowed funds. “When funding comes from abroad, it is usually a condition to move part of the activity outside of Greece so that the value is created in the country where the funds come from,” he notes.

In any case, after about two years, the European Innovation Council will re-evaluate the progress of the enterprise and decide whether to participate in it as a co-investor. Thus, the company is looking for a strategic investor to make its product available in clinics in 4-5 years, with approval from the European Medicines Agency and possibly the US Food and Drug Administration.

At the European level, only two companies have developed appropriate technological methods, but with a different purpose. One is a French company that regenerates the skin, and the other is based in Tel Aviv and can 3D print the cornea of ​​the eye.

“In Greece, the pathology in relation to scientific applied research is that the results remain in a drawer or are limited to some scientific publications. Counseling and mentoring play a particularly important role. But the mentality about using research results also needs to change. In other words, researchers and professors should be asked to produce innovations that help strengthen the pace of development,” comments Ms. Sergioti.