Two former executives from Johnson & Johnson and Stryker raised $1 million to fund the development of a device that uses radio frequencies to repair torn or frayed cartilage.
NuOrtho Surgical Inc. in Fall River raised the money from private investors and “individuals familiar with the orthopedic industry,” according to a press release.
The funds will be used to file for a 510k premarket notification with the U.S. Food and Drug Administration, ahead of a planned 2010 launch of NuOrtho’s first product.
The company is winding up early-stage validation testing on a probe that uses low-level radio frequencies to smooth and contour frayed or torn knee cartilage.
NuOrtho has six tissue preservation patents and several more pending.
President and CEO Jeffrey Morrill is a former J&J marketing director whose last position was chief marketing officer for Vectrix, a Rhode Island electric motor scooter maker.
Chief development officer Roy Morgan is a former director of engineering at Nipro Medical Corp. and a former employee of Stryker Endoscopy.
Chief clinical officer Wayne Auge II is an orthopedic surgeon who specializes in athletic injuries.