After leading Harpoon Medical to a $100 million acquisition by Edwards Lifesciences last year, CEO Bill Niland and three other executives are now working on a fledgling medial device startup creating a minimally invasive treatment for degenerative disc disease in the lower back.
ReGelTec recently closed on $2 million in equity financing from TEDCO, the Abell Foundation and angel investors, Niland said.
The Baltimore-based startup is developing a gel that can be injected into the nucleus of a lumbar (or lower back) disc for patients who had surgery related to degenerative disc disease, Niland said. The spinal implants are designed to return spacing and height that is lost during surgery to the disc, when some of the nucleus is removed.
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