FALL RIVER – NuOrtho Surgical Inc., a maker of low-radio-frequency orthopedic surgical devices, said last week it has received $1 million in Series B financing from undisclosed private investors and individuals.
NuOrtho said it plans to use the money to file a 510(k) application with the U.S. Food and Drug Administration for its first product; increase its manufacturing capacity; and purchase supplies for launching its product in the first part of next year. The company raised $1 million in a Series A round late last winter.
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NuOrtho CEO Jeffrey M. Morrill, who previously was an executive at Johnson & Johnson and Middletown-based electric-bike manufacturer Vectrix Corp., said the company is well-positioned. “As the population ages, there is a growing need to sustain long-term mobility, particularly among baby boomers,” he said, and NuOrtho’s devices will do that.
NuOrtho was incorporated in October 2008 by Morrill and two co-founders, Chief Development Officer Roy E. Morgan and Chief Clinical Officer Dr. Wayne K. Auge II. The company operates out of the University of Massachusetts Dartmouth’s Advanced Technology and Manufacturing Center, and has secured nine patents.
“NuOrtho is the type of industry that Fall River is looking for,” Kenneth Fiola Jr., executive vice president of the Fall River Office of Economic Development, said in a statement. He added: “NuOrtho … will take medical devices to the next level and create jobs for years to come. We look forward to accommodating each stage of growth in Fall River.”
Additional information is available at nuortho.com.
