LITTLE SILVER, N.J., Oct. 8, 2018 /PRNewswire/ — Additive Orthopaedics, LLC., the leader in 3D printed orthopaedic foot and ankle devices, today announced it has been approved for the NJ CoVest Fund through the New Jersey Economic Development Authority (EDA). The Fund is designed to help emerging technology companies bridge the funding gap between product development and commercialization.
According to Greg Kowalczyk, President of Additive Orthopaedics, “This is a tremendous honor and opportunity that we are privileged to accept from the State of New Jersey. We are now able to add additional corporate resources to provide even more limb salvage solutions to patients that were previously unavailable.”
EDA Chief Executive Officer Tim Sullivan noted the important role the Fund plays in fostering innovation across the Garden State and furthering the EDA’s ability to support businesses throughout their growth lifecycle.
“Ensuring that pioneering companies like Additive Orthopaedics have access to critical capital between product development and commercialization is a pivotal step in re-establishing New Jersey as a leader in innovation,” Sullivan said. “We are especially pleased that Additive Orthopaedics plans to use the funding from its NJ CoVest loan to expand its workforce.”
Additive Orthopaedics has already seen a growing market need in 2018 for 3D printed orthopaedic complex reconstruction, limb salvage, and revision implants, and will continue to address patient conditions where there are no commercially available devices on the market.
Recent Updates from Additive Orthopaedics, LLC.
Additive Orthopaedics recently became the leading sponsor in the American Society of 3D Printing. Launched in 2017, the mission of the society is to provide an educational forum for surgeons involved in clinical treatments leveraging 3D printing and to support patients in need.
About Additive Orthopaedics, LLC.
Additive Orthopaedics is an early stage orthopaedic company focused on the integration of advanced manufacturing and biologics to improve patient outcomes.
About the NJ CoVest Fund
The NJ CoVest Fund provides funding to New Jersey technology and life sciences companies to further commercialize their technology and scale revenues. Investments made through the NJ CoVest Fund align with the EDA’s ongoing strategy of supporting New Jersey’s entrepreneurial ecosystem.
SOURCE Additive Orthopaedics, LLC.