NovoPedics, Inc. (Monmouth Junction, NJ) is developing MeniscoFix™, a resorbable medical device intended to be implanted via arthroscopically-assisted surgery to replace the entire medial or lateral meniscus of the knee. The two menisci serve as cushions between two bones meeting at the knee joint, function to distribute loads and decrease stress to the articular cartilage. The goal of MeniscoFix™ is to relieve pain and restore mobility to patients suffering from severe meniscal injuries and prevent the onset of osteoarthritis which often follows the standard of care procedure, a meniscectomy. MeniscoFix™ was designed to mimic the architecture and biomechanical properties of the native meniscus, serve as a load sharing device immediately following implantation, and gradually resorb and support development of functional new meniscus-like tissue. In September 2020, MeniscoFix™ was granted Breakthrough Device Designation from the U.S. FDA, based on the unmet needs and advantages over existing alternatives. The Company is also the beneficiary of a sub-award of a competitive $4.42 million grant from the U.S. Department of Defense, based on the need for this product in the military, which funds a majority of the Company’s expenses through early 2023.