- Abilitech, a company founded by former Medtronic senior product manager Angie Conley, announced it raised $7.4 million to help restore upper arm mobility
Abilitech — a company founded by former Medtronic senior product manager Angie Zavoral Conley — announced it closed $7.4 million in funding in late November. And Abilitech is planning to get FDA clearance for its Abilitech Assist device early next year.
Sofia Fund — an angel investment company focused on women-led companies — was one of the investors in this round.
“We’ve watched Abilitech for three years and witnessed its team cross a threshold in product development and efficacy that will make the Assist device a reality in the new year,” explained Cathy Connett, CEO and managing partner of Sofia Fund.
The Abilitech Assist device is known for helping restore upper arm mobility to patients suffering from neuromuscular issues like multiple sclerosis or muscular dystrophy.
“In the U.S., there are hundreds of thousands of people who can’t perform simple tasks, such as feeding themselves or brushing their teeth, because of arm limitations,” said Conley.
The Abilitech Assist device is also known for having the ability to have a physical, social, and economic impact that can change many lives. Prior to working at Medtronic, Conley also worked as a medical device consultant.
According to Biz Journals, Abilitech won two awards at the Minnesota Cup, including the grand prize in October. And last month, it won the Minnesota High Tech Association’s Tekne Award for med-tech companies.
