MTEC Expands Commercialization Initiatives to Advance Novel Biomedical Solutions for the U.S. Military

SUMMERVILLE, S.C., Dec. 10, 2024 /PRNewswire/ -- Medical Technology Enterprise Consortium (MTEC) is expanding its arsenal of offerings to accelerate the commercialization of products for military readiness and health with the launch of the MTEC Prototype Acceleration Bridge Loan program. This program will provide loans to selected and qualified small business MTEC members to de-risk their medical technologies and advance towards securing follow-on funding for military applications.

"We are thrilled to offer this new program to qualified members as part of MTEC's ongoing commitment to support the development of lifesaving and mission-critical technologies for the U.S. military," said Dr. Lauren Palestrini, Chief Science Officer of MTEC. "As we look ahead to 2025, we are dedicated to helping our member companies advance their innovative solutions closer to long-term funding and military application."

Since 2016, MTEC has modeled successful public-private partnerships to support government efficiency. Through the M-Corps, a biomedical network of mentors and expert service providers, MTEC facilitates crucial wraparound services to cultivate small business maturity and increase probability of commercial success.

MTEC will also be co-hosting a partnering event, with CSSi Lifesciences and Bullpen, at 2025 JP Morgan Healthcare Conference in January to promote government investments through MTEC to the private investor sector. "This opportunity showcases both our biotech members to the broader healthcare audience and reinforces our partnering efforts with the investment community to rapidly advance biomedical solutions with non-dilutive funding," Jill Sorensen, JD, MTEC Ventures Initiative.

As global conflicts persist, these commercialization initiatives underscore MTEC's commitment to growing a network of small business members and ensuring their success in advancing innovative solutions. By providing financial support during critical stages of technology development, MTEC aims to accelerate the commercialization of state-of-the-art technologies that will directly benefit the Department of Defense and improve the health and operational effectiveness of service members.

For more information on the MTEC Prototype Acceleration Bridge Loan application process, visit mtec-sc.org/solicitations.

About MTEC

Medical Technology Enterprise Consortium (MTEC) is a non-profit that supports the development of innovative technologies aimed at advancing military readiness and health. Through collaboration with industry, government, and academic partners, MTEC accelerates the commercialization of cutting-edge solutions that address the needs of our service members. Learn more at mtec-sc.org.

SOURCE Medical Technology Enterprise Consortium (MTEC)