Novita Therapeutics Spins Off Two New Companies, Closes Doors

Local entrepreneur Nick Franano announced Friday that his company, Novita Therapeutics LLC, has spun out two new medical device companies. Franano founded Novita in November 2009 as an incubator and raised $9.4 million to begin developing products. He later created Flow Forward Medical LLC and Metactive Medical LLC as subsidiaries of Novita, and both have reached the point where they can stand alone, he said.

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