Biotech entrepreneur Nicholas Franano’s Metactive Medical Inc. is now an independent company offering two new medical devices.
Metactive began in 2012 as a subsidiary of Novita Therapeutics LLC, which had been founded by Franano in 2009 as a medical device incubator.
Franano, a medical doctor who’s developed other biotech enterprises, raised $9.4 million for Novita to develop products. The equity investment has now been divided between Metactive and a second spinoff, Flow Forward Medical LLC.
Metactive is developing two embolization devices for treating vascular diseases and cerebral aneurysms. Flow Forward is in early stage development of a vascular treatment related to kidney disease.
Both companies are in the Kansas Bioscience Park’s Venture Accelerator in Olathe.
Franano also founded Proteon Therapeutics, which expects to begin a third phase of clinical trials this year for a drug it developed for hemodialysis patients.
Novartis, a major pharmaceutical company, had an option last year to buy Proteon, but no decision has been announced.
Diane Stafford, email@example.com