CytexOrtho

One Biodegradable Implant. Full Joint Restoration.

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Categories
Technology, Industrial, Healthcare & Medical
Min Investment
$250
Location
DURHAM, NC
Offering Date
October 27, 2022
Expected Close Date
January 24, 2023
Target Raise
$10.00K-$1.07M
No. Investors
257
Security Price
$2
Valuation
$18,183,464
Website
cytexortho.com
Number of Employees
8
Cash
$489,299
Revenue
$1,836,602
Short Term Debt
$144,543
Cost of Goods
$1,263,476
Long Term Debt
$0
Net Income
$-22,653

Company Description

CytexOrtho is a healthcare startup that is developing technology and solutions for younger patients with hip pain to address early joint degeneration. The company’s lead product is a cutting-edge biodegradable medical implant that restores joint cartilage and bone instead of replacing it with artificial materials found in a total joint replacement. While this product is not yet commercially available, CytexOrtho is currently preparing for an FDA IDE submission to begin clinical trials for it and expects to begin these trials in 2023.

Perks

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$250+ Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.




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Friends and Family Early Birds
Invest within the first 72 hours and receive 20% bonus shares. Please note that bonus shares are not cumulative with later time-based bonuses.




2
days

14
hours

39
mins

33
secs





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$500+ Investment
Tier 1
Investor’s Club membership, which provides quarterly updates


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$1,000+ Investment
Tier 2
Receive 5% Bonus Shares + Investor’s Club membership.


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$2,500+ Investment
Tier 3
Receive 10% Bonus Shares + Investor’s Club membership. Please note that bonus shares are not cumulative with lower tier bonuses.


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$5,000+ Investment
Tier 4
Receive 15% Bonus Shares + Investor’s Club membership. Please note that bonus shares are not cumulative with lower tier bonuses.


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$10,000+ Investment
Tier 5
Receive 20% Bonus Shares + Investor’s Club membership + meet the founders on a video call (or in person at investor expense). Please note that bonus shares are not cumulative with lower tier bonuses.


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$25,000+ Investment
Tier 6
Receive 25% Bonus Shares + Investor’s Club membership + meet the founders on a video call (or in person at investor expense). Please note that bonus shares are not cumulative with lower tier bonuses.

Key Deal Facts

Highly Validated Technology – Our technology is backed by over 20 years of award-winning research, with 5 U.S. patents issued, and over $17M in non-dilutive NIH grant funding. Our publication record, patents, and funding success underscore the novelty of our approach to joint regeneration.

Projected Market Opportunity – The hip preservation U.S. Market Opportunity is estimated in excess of $4B and is growing at 18%+ per year.* Joint preservation solutions are desperately needed in the young and active patient, and there are few competing technologies in this sector.

Expert Leadership – CytexOrtho has assembled a team of experts in cartilage tissue engineering, medical device development, and hip preservation. Founded by some of the world's leading scientists in cartilage engineering, and joined by world-renowned physicians and experienced businessmen, CytexOrtho is positioned for success.

Management Team / Advisory Board Bios

Dave Nolan



Non-executive Director


Dave is a results-oriented leader with over 20 years of business development experience. Formerly of Zimmer Biomet, Dave successfully executed organic and inorganic growth strategies to deliver strong operating performance and stock price appreciation. Mr. Nolan provides key business development experience to the CytexOrtho Board of Directors due to his in-depth knowledge of domestic and international sales and operations and significant experience in strategic planning, financial management, mergers and acquisitions, and business integration.
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Barry Myers, MD, PhD



Non-executive director


Barry has considerable experience in both business and academic leadership. In addition to his current roles as an Executive-in-Residence at Pappas Ventures and as a Professor of Biomedical Engineering at Duke, Dr. Myers maintains an active consulting practice, advising clients concerned with product safety. He is recognized as a world leader in injury research and product safety, with over 100 publications. Rounding out this experience, he has also served as past Managing Director of the Duke Office of Licensing and Ventures. Dr. Myer's scientific and business background add significant insight for both product and business development as a member of the Board of Directors at CytexOrtho. 















Christine Estes



Director of Business and Finance


Christine oversees daily business operations, finance, and federal compliance efforts. Ms. Estes has over 10 years of experience in financial management and has held various positions in small and large businesses, including software consulting, management training, tax preparation, and human resource roles. Ms. Estes has extensive training and acquired expertise in federal grants management and holds a B.S. in Mathematics from Vanderbilt University.















Vincent Willard, PhD



Director of Research


Vince has extensive experience in molecular and stem cell biology toward developing engineered cartilage with specific genetic, biochemical, and mechanical properties. At CytexOrtho, Dr. Willard spearheads research efforts on current and next generation technology. Through his 15+ years of research experience, Dr. Willard has led numerous interdisciplinary teams to complete projects in a variety of bioengineering subjects including articular cartilage and fibrocartilage biology and tissue engineering, orthopaedic tissue biomechanics and interspecies comparisons, pluripotent stem cell differentiation, and gene therapy. Dr. Willard earned his Ph.D. in Biomedical Engineering from Rice University.















Nikhil Gheewala, PhD



Director of Product Development


Nikhil has over 15 years of experience in tissue engineering research and product development in both academic and small business environments. In his current position at CytexOrtho, he draws upon his R&D experience in controlled GLP, GMP and cGMP quality system environment to drive complex products through preclinical and clinical translation towards commercial manufacturing. Nikhil received his Ph.D. in Bioengineering from Rice University.















Laura Tormey



Manager of Product Development


Laura has significant engineering experience in the biotechnology industry with expertise in development and manufacturing of polymer-based devices for clinical applications. She also has extensive experience developing and validating systems for manufacturing and quality control of polymer structures. In her role at CytexOrtho, she draws upon these experiences to design manufacturing processes and quality procedures to produce scaffolds (our implants) that support cartilage tissue growth in pre-clinical and human studies. Laura has a BS in Mechanical Engineering from the University of Alaska, and she is currently pursuing a MNAE (Masters of Nanoengineering) at North Carolina State University.















Tara Boykin



Administrative Assistant


Tara serves a variety of roles at CytexOrtho including bookeeping, report and documentation preparation, and office support. Ms. Boykin has 10+ years of experience in areas of data management, payroll administration, research finance, records management, and financial and accounting software.
Amount Raised : $470,337
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