MedShape Solutions, Inc. Secures Investment From IQT to Support U.S. Intelligence Community
ATLANTA, Dec. 13, 2010 /PRNewswire/ -- MedShape Solutions, Inc., the world's leading developer of innovative orthopedic medical devices from shape memory materials, today announced a strategic investment and development agreement from In-Q-Tel (IQT), the strategic investment firm that identifies innovative technology solutions to support the missions of the U.S. Intelligence Community.
MedShape's business is built on a technology platform of proprietary shape memory polymers and shape memory alloys, materials that have been designed to morph between two shapes in response to specific stimuli. MedShape is using these shape-changing materials to improve the fixation of soft tissue to bone and bone to bone in orthopedic procedures, to reduce the invasiveness and complexity of surgical techniques, and to develop durable implants that adjust to changing conditions within the human body.
"MedShape has developed a broad portfolio of engineering grade shape memory materials that can tolerate a variety of extreme environments," said Syd Ulvick, Vice President, Physical and Biological Technologies practice at IQT. "The breadth of materials in MedShape's portfolio and rich diversity in their properties provide tremendous opportunities to develop products across a host of applications that can perform useful functions by virtue of their active nature."
"We are delighted to have IQT as a strategic investor and partner," said Kurt Jacobus, Chairman and CEO of MedShape. "At its core, MedShape is a technology-based company, and we are pleased that working with IQT will open the door to opportunities to use our technology in support of the U.S. Intelligence Community."
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