Two medical device veterans have formed a company to develop a new kind of bandage, according to a recent Crain's Cleveland report.
Bill Fuller, co-founder of S4 Medical (formerly Sotera Medical), and David Kay, MD, have formed Okapi Medical. The new company will be based in Akron, OH, according to the report.
Kay, an orthopedic surgeon in Akron, founded a company back in 1995 that developed implants and devices used in reconstructive foot and ankle surgery. That company, OrthoHelix, was sold in 2012 for $155 million.
With the new venture, Kay and Fuller plan to use technology developed by polymer researchers at the University of Akron to give surgeons a better way to close wounds. In an interview with Crain's Cleveland, Fuller described the technology as an adhesive not unlike what is currently on the market but with the addition of new polymer chemistry. The product is designed to remain flexible to reduce tearing of the skin and improve the feel of the bandage, Crain's Cleveland reported.
The founders have reportedly already raised $500,000 for the new company.