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March 20, 2014

CT Innovations backs device maker with $350K

With the help of a $350,000 investment from Connecticut Innovations, Avitus Orthopaedics said it will finalize its Maryland headquarters move to Farmington, where it already has operations.

Avitus, which until last year was called Boss Medical Inc., is developing a minimally invasive bone-graft harvesting device. The company was founded in 2011 by Johns Hopkins researchers in Baltimore.

Maxim Budyansky, a former researcher at UConn’s Cell Mechanics Laboratory, is co-founder and chief technology officer of the company. Patrick O’Neill, CI’s director of investments, sits on the board of directors.

The CI investment will also help Avitus finalize its manufacturing process, prepare filing for necessary clearances from the U.S. Food & Drug Administration, and fund marketing efforts to support pilot sales of its device

Avitus began its headquarters relocation to Connecticut last year. It’s housed in incubator space that is part of UConn’s Technology Incubation Program.

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