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Wednesday, October 31, 2007

Angstrom Medica bought by Mich. firm

Angstrom Medica Inc., a Woburn startup focused on nanomaterials to rebuild human bones, has been acquired by a Michigan company, according to the buyer.

Pioneer Surgical Technology Inc., a privately held medical devices firm in Marquette, Mich., said it has acquired Angstrom for an undisclosed sum.

Angstrom, with six employees, is expected to continue operations in Woburn as a wholly owned subsidiary of Pioneer.

Angstrom's lead product is a nanomaterial implant, called NanOss, designed to remodel over time into human bone, according to Pioneer. The U.S. Food and Drug Administration has approved the nanotechnology device.

Edward Ahn, CEO of Angstrom, said he plans to continue to lead the Woburn operation as a vice president in Pioneer's surgical orthobiologics division. He founded the company in 2001 with two fellow researchers from the Massachusetts Institute of Technology.

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