The Florida Institute for the Commercialization of Public Research has finalized a funding agreement with Auxadyne, a Keystone Heights-based company with technology developed at Florida State University.
The amount of the funding was not disclosed.
Created in April 2015 and led by Joe Condon, Chief Executive Officer, Auxadyne is commercializing auxetic polyurethane foam technology (Xylafoam) with initial applications in the athletic equipment and medical device markets, for products such as the socks worn by amputees to attach prosthetic devices.
The foam forms a self-adjusting shape that allows for constant pressure in dynamic volumetric environments such as swelling and bending.
The company will use the funds to introduce Xylafoam to the commercial marketplace.