Hanger Ventures makes debut investment
By HME News Staff
Updated 9:03 AM CDT, Mon July 22, 2024
AUSTIN, Texas – Hanger Ventures, a subsidiary of Hanger whose primary goal is to advance orthotics and prosthetics innovation and improve patient outcomes, has made its debut investment in Bionic Power. Canadian-based Bionic Power, developer of active lower body smart orthotic devices that enhance personal mobility, is raising Series A funding, with Hanger Ventures committing as the lead investor. “We look forward to contributing clinical research, along with technical and commercial expertise, to bring innovative solutions to the market that have the potential to meet an unmet clinical need and improve the quality of life for individuals with mobility challenges,” said James Campbell, PhD, president of Hanger Ventures and chief clinical officer of Hanger. Bionic Power devices enhance walking abilities for children and adults with neuromuscular diseases and conditions, including cerebral palsy, spina bifida and stroke. The company will use the investment for product development, clinical trials and go-to-market support. “When we learned about the creation of Hanger Ventures, we felt the opportunity was a great match for Bionic Power’s needs, and the subsequent discussions confirmed our initial impression,” shared Gualtiero Guadagni, PhD, CEO of Bionic Power. “Hanger Ventures is offering far more than capital, and we are eager to leverage their support to expand our business and have a greater impact on those who can benefit from our life-changing products.”
Comments