Magnesium Development Company, a medical device start-up, has raised a $1 million in a recent funding round, according to an Xconomy report.
Here are four takeaways:
1. The company plans to use the funds for the next phase of pre-clinical testing for its BioMg 250 product.
2. BioMg 250 is a magnesium alloy used in orthopedic fixation devices.
3. The company has already conducted an animal trial for the BioMg 250 implants.
4. BioMg 250 implants are designed for numerous applications, including sports medicine procedures such as ACL, rotator cuff and foot and ankle repair.