Medical start-up NovoPedics, founded by University of Medicine and Dentistry of New Jersey academics, raises $500k for knee repair.

NovoPedics, a biofirm affiliated with the University of Medicine and Dentistry of New Jersey (UMDNJ), has raised $500k from Foundation Venture Capital Group (FVCG).

The US-based start-up intends to use the funds to further develop its knee repair product Meniscofix, which can be used to treat severe meniscus knee injuries and can prevent the development of arthritis. Currently, there is no FDA-approved product for the replacement of the meniscus.

The firm has been founded by Dr. Charles Gatt and Dr. Michael Dunn, who are both faculty members at the UMDNJ-Robert Wood Johnson Medical School.

Drs. Gatt and Dunn said: “There are more than 1.5 million meniscus tears each year, resulting in 800,000 meniscectomy surgeries. Meniscofix is an innovative way to repair these tears and may also eliminate the development of arthritis that is often a complication of current meniscus repair surgery. Meniscofix has a unique fiber-reinforced design similar to the…

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