Quantum medical ideas Invests $100K in developed Amputee solutions
Sarah Schmid November 03, 2014
Quantum scientific ideas, a partnership between the Michigan State scientific Society and Commonwealth enterprises to support early-stage healthcare startups, has made its first funding, worth $ one hundred,000, in evolved Amputee solutions.
advanced Amputee solutions is developing a Cushioning Implantable finish Pad (CIEP), a polymer-primarily based cushioning device that’s inserted all through surgical operation to get rid of ache and soreness associated with amputated limbs. “that they had a product that fit within our manner, they usually needed funding in addition to wrap-round services and products. We wish to be sure that they’re leveraging our strengths, and we work with them on everything from advertising help to operational services and products to IT,” says Ben Louagie, COO of the Michigan State scientific Society.
Quantum medical ideas’ funding in advanced Amputee solutions is in the type of a convertible observe, which permits Quantum to turn its funding into company stock. As part of the funding agreement, the corporate may also relocate its headquarters and two full-time staff to the Michigan State scientific Society Headquarters in East Lansing.
Louagie says developed Amputee solutions was based by using Gordon Maniere, a veteran of Operation Iraqi Freedom whose father is a under-the-knee amputee. the corporate plans to make use of Quantum funding to perfect its prototype.
Versicor, a Royal Oak, MI-primarily based company, has been a partner to advanced Amputee solutions and can take the lead on so much of the engineering work at some point whereas also serving to with advertising and technique.
Louagie says Quantum medical’s goal is to invest about $ 250,000 per yr in medical startups, and he expects to announce a few extra corporations that have been funded earlier than the tip of the yr.
“once you get prior chums, household, and fools, there’s an incredible funding void,” he adds. “We’re encouraged with the aid of the choice of modern healthcare corporations in Michigan. It’s a superb opportunity to grow and strengthen them.”
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