PITTSBURGH, Pennsylvania — Blue Belt Technologies, which is developing a line of computer-assisted, robotic bone-cutting tools, has raised $2.4 million to prepare a U.S. Food and Drug Administration application for its first product.
Blue Belt, a 6-year-old spin-off company from Carnegie Mellon University, is making a series of tools that rely on robotic technology and computer-assisted guidance for orthopedic and neurosurgery procedures. The company says its devices can automatically adjust the depth of a cut or disable the cut entirely based on the the location of the cut, and will help physicians make better cuts.
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Initially these tools will focus on spinal problems found primarily in aging populations, such as spinal laminectomy, which widen the spinal canal to relieve pressure on compressed nerves. But the tools have a much broader application.
Along with funding an FDA application for its first product, the Precision Freehand Sculpting system, the money will be used to prepare for full market release of its orthopaedic and neurosurgical products. The Pittsburgh Life Sciences Greenhouse and Innovation Works contributed to the round, which also included additional private investors and existing convertible notes.