Ti2448 (Ti-24Nb-4Zr-8Sn wt.%) is a metastable type titanium alloy developed recently for biomedical applications. The alloy possesses good biomechanical compatibility with human bone, in terms of high strength and an elastic modulus approaching that of the hard tissue of human body, as well as biochemical compatibility since it contains only nontoxic alloying elements. Bone plates manufactured from the Ti2448 alloy has undergone clinical trials and an application for product permission has been submitted to FDA of China. We review briefly the methodology of alloy design and peculiar properties including pronounced nonlinear elasticity and localized plastic deformation. Variations of mechanical properties with processing scheme will be presented. The positive effects of improved elastic matching between implant and bone on healing fractured bone are demonstrated by new bone formation at intramedullary nails implanted in New Zealand white rabbits and bone plates implanted in Beagle dogs.