PORT SHELDON – A biotech startup will use $1 million in capital to pay for preclinical trials on an innovation it has developed for use in orthopedic surgeries.
Magnesium Development Co. LLC, operating out of a small office in Ottawa County’s Port Sheldon Township, uses an alloy material licensed from a Livonia company, Nano Mag LLC, to develop screws used in orthopedic procedures.
The company intends to focus first on screws for surgeries to replace a torn ACL in knees, President and CEO Rob Ball told MiBiz. Screws used today for ACL surgical grafts are made from either a permanent metallic material or an absorbable polymer.
– See more at: http://mibiz.com/item/23397-holland-area-biotech-firm-raises-
