SCRA’s SC Launch Presents Investment to Ion Surgical Technologies
FOR IMMEDIATE RELEASE
For more information please contact:
Office 843.760.3329 Cell 843.819.5115
SCRA’s SC Launch Presents Investment to
Ion Surgical Technologies, Inc.
at 5th Annual MedTech Conference/Program for Biomedical Entrepreneurship
in Greenville, November 5th
CHARLESTON, SC – November 3, 2009 – Ion Surgical Technologies, Inc. (Ion Surgical) will receive an investment from SCRA affiliate SC Launch at the conclusion of the MedTech Conference in Greenville today. Ion Surgical improves patient care by developing unique fixation methods to maximize healing for rotator cuff and anterior cruciate ligament (ACL) repair.
Ion Surgical has developed two products that offer improvement over current arthoscopic surgical methods: the PassTech™ Rotator Cuff Repair Kit and the PassTech™ ACL Fixation Kit. Rotator cuff tears are frequent shoulder injuries that can require surgical intervention, which are growing in step with an active baby boomer population. The ACL is a ligament within the knee that helps provide stability to the joint. When the ACL is torn, surgery is commonly part of the treatment. ACL problems can result from sports injuries or trauma. Each year in the U.S., nearly one million rotator cuff and ACL injuries each year require surgical repair.
“SC Launch and SCRA have been far more than investors – they’ve been leading edge business consultants who have contributed greatly to our success in many ways. Their investment serves as a bridge to move our product designs into production,” said Brian Dross, Ion Surgical Founder and President. “SC Launch has also provided a level of due diligence to better position us to future, qualified investors.”
Ion Surgical’s principal offices are located in Mt. Pleasant, SC. The company plans to relocate into the SCRA MUSC Innovation Center in downtown Charleston when the facility opens later this calendar year. Dross said that local companies like WebsterRogers, LLP; Barnwell Whaley Patterson & Helms, LLC; Zeus, Inc. and UEC Electronics have already become complementary business resources.
“Companies like Ion Surgical who offer bio-medical applications lead directly to both improved care and leadership commercialization outcomes in South Carolina,” said Bill Mahoney, SCRA CEO. “It’s great to recognize Ion Surgical at an important conference like MedTech, which helps us fulfill our commitment to creating centers of commercialization excellence through the Industry Partnership Act of 2006.”
SC Launch has identified Ion Surgical as a promising South Carolina start-up company and is assisting them with a seed-capital investment, ongoing mentoring and SC Launch Resource Network services. Since its inception in April, 2006, SC Launch has provided counsel and support to more than 130 start-up companies. Additionally, SC Launch-supported companies have secured more than $71 million in follow-on venture capital and private equity financing.
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About Ion Surgical
Ion Surgical improves patient care with its development of unique fixation methods to maximize healing sources for ACL reconstruction and rotator cuff repair.
About SC Launch
SC Launch, an SCRA collaboration, assists entrepreneurial start-up companies with up-front counseling, seed-funding, and access to a powerful resource network. The SC Launch mission is to help generate knowledge economy jobs in South Carolina, enhance the state’s quality of life and provide opportunity for all South Carolinians in the new economy.
SCRA is a global leader in applied research and commercialization services with offices in South Carolina, Ohio and in the Washington, D.C. area. SCRA collaborates to advance technology, providing technology-based solutions with assured outcomes on behalf of industry, government, and research universities in SC, the US and globally.