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Drexel Selects Orthopedic Surgical Device Startup for Innovation Fund Support

January 22, 2025

Gerri LeBow Hall

Drexel University has selected Ultrafix, a Drexel-affiliated orthopedic medical device startup, to receive support from its Innovation Fund. The company, founded by Sorin Siegler, PhD, professor emeritus in Drexel’s College of Engineering, will receive an investment of $150,000 from the fund. This is the third such tranche of support offered to Drexel-affiliated startups since the Innovation Fund’s creation in 2023.

Ultrafix is developing a novel class of orthopedic surgical devices, based on controlled expansion bone anchor technology developed in Siegler’s lab over the last decade and a half. Siegler’s goal for the bone anchor products is to reduce revision surgeries and produce better patient outcomes for a variety of orthopedic procedures.

“This support will enable Ultrafix to bring a revolutionary bone anchor technology to populations for which traditional orthopedic products would not be a viable solution,” Siegler said. “These products are based on decades of biomechanical research, testing and development and we believe they will be an important, new tool for orthopedic procedures.”

Siegler’s swelling bone anchor research has received prior support from state and foundation funding, as well as the Drexel Coulter Translational Research Partnership. Siegler was also involved in prior successful commercialization of total ankle replacement technology from Drexel.

The Drexel University Innovation Fund is an initiative for early-stage Drexel student and postgraduate-led startups, as well as startups founded to commercialize the results of scientific research developed at Drexel. The fund, which launched in 2023, aspires to play the role of a “friends and family” investor and encourages Drexel problem solvers to dream big and take on society’s most pressing challenges.

The program includes a unique experiential undergraduate course within Drexel’s Charles D. Close School of Entrepreneurship, called “Drexel University Innovation Fund Due Diligence,” which immerses students in the process of investing in early-stage startups. An Investment Advisory Committee, comprised of industry experts and early-stage investors, many of whom are Drexel alumni, also support the program.

“Supporting our innovation ecosystem and fostering commercialization are key priorities for Drexel,” said Aleister Saunders, PhD, executive vice provost for Research & Innovation in Drexel’s Office of Research. “I am excited to see the potential for positive impacts in human health in the latest selection. We appreciate the students’ due diligence efforts; the faculty at the Charles D. Close School of Entrepreneurship, who guided the student learning; and the Investment Committee for their keen insights and support of Drexel students and startups.”

The Innovation Fund has previously invested in five startups: GrowFlux, a horticulture lighting company; SusMaX, a concrete aggregate startup; 1D Nano, a nanomaterial cleantech company; MXene, Inc., a company focused on the commercialization of nanomaterials called MXenes; and Aer Cosmetics, a sustainable cosmetics brand.

For more information on the Drexel University Innovation Fund, visit: drexel.edu/applied-innovation/funding/innovation-fund or contact applied_innovation@drexel.edu.

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