TEDCO, Maryland’s economic engine for technology companies, announced a strategic partnership through its mdPACE program with innovative medical device company, BondTrue.
Designed and patented by plastic surgeon Dr. David Zachary Martin, BondTrue automates the process of surgical incisions and closures. The result is a fast, precise surgical wound that can be rapidly approximated and repaired. This significantly reduces surgical times and costs, while ensuring most efficient wound repair. Precise wound repair is associated with reduced scarring and decreased wound complications, including surgical site infections. BondTrue brings mechanical precision to a surgical process historically done by hand with the naked eye.
“BondTrue represents the type of IP and technology that—combined with our expertise—has qualities to become a FDA cleared device and have broad applications,” said George Davis, CEO of TEDCO. “Our goal with this program is to guide medical device developers like BondTrue to commercialization, and ultimately make a sustained economic impact here in Maryland.”
The company recently received a second Maryland Industrial Partnerships (MIPS) award ($100,000) from the Maryland Technology Enterprise Institute, which enabled collaboration between surgeons and engineers at the top of their fields, resulting in innovative breakthroughs. The company then applied for TEDCO’s mdPACE program, where it will receive assistance and funding to navigate and graduate the commercialization process. With TEDCO’s backing, BondTrue has entered the critical prototype development stage—which will be used for multiple purposes including product trials, animation development and investor/partner communications.
“TEDCO brings a depth of medical device product development experience and commercialization acumen that will be critical to bringing BondTrue to market. We’re eager to move through the stage-gate process with TEDCO’s executive-level guidance so that we can accelerate the regulatory pathway for the BondTrue device, which has massive market potential for numerous types of surgeries including orthopedic and cardiothoracic procedures,” said Aimee Martin, CEO of BondTrue.
BondTrue is the latest technology start-up to be accepted into the mdPACE program; in early 2018, ClearMask—the developer of the country’s first, full-face transparent surgical mask—was also accepted into the program.
Candidate companies and entrepreneurs may express their interest in participating in the mdPACE program by submitting an application as outlined in the Request for Application (RFA). Potential applicants should take care to follow the RFA submittal requirements very carefully. Applications are accepted on a rolling basis. For more information, contact Neil Davis at ndavis@tedco.md.