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 clinical officer Wayne Auge II is an orthopedic surgeon who specializes in athletic injuries.