Flex Biomedical, Inc., a Madison, WI-based biomedical company focused on developing novel treatments for orthopedic diseases, has closed an $866,000 financing round.
Both new and existing investors participated in the round.
Founded in 2007 and led by CEO Sal Braico, Flex Biomedical is developing innovative treatments for orthopedic diseases. The company’s lead product, the Flex Polymer™, is a synthetic polymer designed to treat osteoarthritis, a debilitating joint disease.
The company intends to use the funds to continue advancing Flex Polymer toward commercialization.
In November 2010, Flex Biomedical was awarded $244,479 from the IRS’ Qualified Therapeutic Discovery Project grant program.