Medtech accelerator Runway Healthcare is launching its third orthopedic startup company, Pace Medical, according to a May 28 report from PHL Inno.
Runway's first two companies, Waypoint Orthopedics and Toetal Solutions, are focused on spinal instrumentation and foot and ankle deformities, respectively.
Pace Medical will focus on products for use in foot and ankle fixation. Runway is also launching a second venture capital fund, looking to raise $30 million for investment in five additional companies in the Philadelphia region, where the accelerator is based.
Recently, Waypoint Orthopedics earned FDA clearance for its flagship product, Waypoint GPS, a smart bone awl for use during pedicle screw pilot hole drilling in vertebral fixation procedures.