UC San Diego invests $250,000 and San Diego Angel Conference at University of San Diego awards $263,000 for LIMBER to address need for accessible, functional prosthetic limbs for amputees
SAN DIEGO – June 14, 2023 – LIMBER Prosthetics & Orthotics Inc. (LIMBER) is announcing it has received $250,000 in seed funding from the University of California San Diego and $263,000 from San Diego Angel Conference (SDAC) V, a University of San Diego (USD) Knauss School of Business program, last month for a total of $513,000. Investments for the medtech startup could also increase in coming weeks, with additional funding from individual angel investors.
LIMBER develops patient-specific prosthetic devices using a proprietary process involving personalized scans, digital modeling, and a 3D-printer the team developed. Scans are taken of an amputee’s residual limbs with smartphones, and a digital model of the amputated limb and a compatible prosthesis is developed by LIMBER. The prosthesis is lightweight, durable, comfortable, and can be produced in just 12 hours.
The World Health Organization estimates there are 40 million amputees in developing countries, 90% of whom live without a prosthetic limb due to lack of access and cost. In the U.S., it’s estimated there are currently 2.6 million amputees.
LIMBER was founded by Dr. Joshua Pelz and Dr. Luca De Vivo and is part of the medical technology accelerator in the Institute for the Global Entrepreneur (IGE) at the UC San Diego Jacobs School of Engineering and Rady School of Management, and UC San Diego’s The Basement startup accelerator. LIMBER also recently participated in the San Diego Angel Conference Entrepreneur Track within the Freedom Enterprise Institute at USD.
LIMBER CEO Dr. Joshua Pelz says, “Our team is passionate about helping patient care providers give amputees easier access to life-changing prosthetics. LIMBER has developed the world’s first complete 3D printed lower-limb prosthetic solution that will improve comfort and reduce the number of clinic visits amputees must make. Once data is received from a clinic, LIMBER’s process takes just 48 hours to design, print, and deliver a patient-specific device to the clinic. We are grateful for the seed funding provided by SDAC and UC San Diego that will accelerate the commercialization of our prosthetic technology.”
LIMBER will use the $513,000 in funding for clinical trials, pilots, FDA registration, and its go-to-market strategy. The startup plans to sell its patient-specific prostheses in developed countries, while partnering and licensing within developing countries. So far LIMBER has partnered with local clinics in Mexico and Ukraine to provide prosthetic care in areas without access. It plans to commercially launch its prosthetic technology in the United States in early 2024.
The UC San Diego seed funding marks the first time a University of California campus has invested directly in one of its own spinoffs.
“LIMBER’s commitment to use state-of-the-art technology developed in the lab here at UC San Diego to provide access to medical solutions across the globe is remarkable and is well aligned with the university’s mission to transform lives and society through our multidisciplinary research,” said UC San Diego Chancellor Pradeep Khosla.
“San Diego Angel Conference (SDAC) invested in LIMBER because it solves a major challenge for millions of amputees worldwide,” SDAC Founder Mysty Rusk says. “SDAC is committed to a thorough, transparent process that provides feedback to founders, and supports new investors as they gain skills, confidence, and build their networks. When a company like LIMBER rises to the top, it’s particularly rewarding, knowing the difference they make is so specific that it immediately improves a person’s quality of life.”
IGE Executive Director Dennis Abremski says, “LIMBER’s solution advanced from leading academic research with UC San Diego Professor Falko Kuester, in Jacob School’s Department of Structural Engineering. I believe they will benefit society on a global scale, and this is just one of many reasons why UC San Diego chose to invest.”
About UC San Diego
At the University of California San Diego, a culture of risk-taking, collaboration and innovation emerged early on. Established in 1960, UC San Diego has been shaped by exceptional scholars who aren’t afraid to push boundaries, challenge expectations and redefine conventional wisdom in order to make our world better. The only criterion our founders had for their campus was that it must be distinctive – and being experimental has been the norm since day one. Learn more at www.ucsd.edu.
About San Diego Angel Conference (SDAC)
SDAC, one of the largest angel investment conferences in the country, activates angel investors and engages promising early-stage companies that drive the innovation ecosystem. Through a series of events and workshops that culminate in a one-day conference and pitch competition, SDAC provides valuable insights and hands-on education through separate entrepreneur and angel investor tracks. The program’s investment fund is managed by accredited investors who collectively decide which companies receive funding. www.thesdangels.com.
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Media Contact:
Hilary McCarthy
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