Audax Medical, a privately held medical device company developing orthobiologics, has been awarded a research and development grant through the Qualifying Therapeutic Discovery Project (QTDP) program for commercialization of Arxis, to help patients with debilitating orthopedic conditions.
Audax Medical has recently reported its partnership with Brown University in the development of its core technology, Arxis, for the regeneration of diseased bone, cartilage, and other soft tissues.
The grant approval validates the clinical need for a cost-effective, minimally invasive solution, such as Arxis, in orthopedic medicine.
The QTDP was established under the Patient Protection and Affordable Care Act of 2010 to support therapeutic projects that are innovative, reduce long-term healthcare costs, and/or address unmet medical needs.
Audax president and CEO Mark Johanson said that they are delighted to receive the recognition and funding to support the development of Arxis and this further validates the clinical significance of our technology and the company’s commitment to regenerative medicine.