Graftworx gets $500K from Maryland Venture Fund - Technical.ly Baltimore

Business

Aug. 20, 2015 12:58 pm

Graftworx gets $500K from Maryland Venture Fund

The medical device company also added inventor Lilip Lau to its staff.
Graftwox won a Rosenman Innovation Award earlier this year.

Graftwox won a Rosenman Innovation Award earlier this year.

(Photo via Twitter)

Bel Air-based medical device company Graftworx received $500,000 from the Maryland Venture Fund, the state announced.

With the new funding, the company announced the hiring of Lilip Lau, who invented a coronary stent while at Guidant. Graftworx is developing a stent to treat peripheral artery disease (PAD).

The money will also be used to complete pre-clinical trials, officials said.

When treating PAD, surgeons implant stents to bypass areas of the artery where blood flow is blocked. But there remains a high-risk that the stent itself will become blocked, which can lead to other complications, and, in some cases, amputations.

Graftworx is developing a stent with sensors that can connect to smartphones, and alert surgeons when there might be blockage.

“We are proud to make this investment in GraftWorx and look forward to their growth and success here in Maryland,” DBED Secretary Mike Gill said. “Small, innovative companies like GraftWorx are critical to Maryland’s economy.”

-30-
BECOME A CONTRIBUTOR TO THE JOURNALISM FUND TO COMMENT
Already a contributor? Sign in here
Connect with companies from the Technical.ly community
New call-to-action

Advertisement

UMB grants licensing option for anticancer drug that uses Anthrax

AgeneBio receives $3.4M for development of Alzheimer’s treatment

Frederick’s Veralox Therapeutics raises $5.4M seed round

SPONSORED

Baltimore

Why two eminent Baltimore higher-ed institutions collaborated to create this unique dual degree program

Philadelphia

Vistar Media

Sr. Software Engineer

Apply Now

Philadelphia

Vistar Media

Front End Engineer

Apply Now

Baltimore, MD

14 West

BI TechOps Analyst

Apply Now

Sysmex Inostics moves into bigger space near JHU medical campus

Frederick-based RoosterBio raises $15M Series B

Maryland VC totals ‘rebound’ with $226M raised in Q2

SPONSORED

Baltimore

What Asymmetrik is doing to help lead healthcare’s digital transformation

Baltimore, MD

14 West

Scrum Master

Apply Now

Baltimore, MD

14 West

Lead Qlik Developer

Apply Now

Baltimore, MD

14 West

Senior Qlik Developer

Apply Now

Sign-up for daily news updates from Technical.ly Baltimore

Do NOT follow this link or you will be banned from the site!