Wednesday, September 30, 2009
Maker of computerized bone cutter locks in financing
Medical device startup Blue Belt Technologies Inc. of East Liberty has closed on $2.4 million in financing led by private investors, and including the Pittsburgh Life Sciences Greenhouse and Innovation Works.
The money is in new investments and the conversion of existing notes. Blue Belt is a Carnegie Mellon University spinoff developing "smart" surgical instruments for orthopaedic and neurosurgery procedures.
CEO Craig S. Markovitz said the financing will go toward preparing the company's Precision Freehand Sculptor, a handheld, computer-assisted bone cutting tool, for federal approval and to prepare it and other products for the market.
News Story Courtesy Trib Total Media