RenovoDerm receives FDA approval for Phoenix Wound Matrix!

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Today, RenovoDerm announced that the U.S. Food and Drug Administration (FDA) has cleared its proprietary product, the Phoenix Wound Matrix, which is a wound care device that accelerates the body’s healing response, facilitates tissue growth and regeneration, reduces scar formation and enhances overall cosmesis.

The Phoenix Wound Matrix is a fully resorbable synthetic graft that closely mimics the extracellular matrix (ECM) found naturally in the body. This product will be used for the treatment of acute, chronic, and burn wounds, which continues to be a concern for both doctors and patients.

Announcing Our New Medical Director for Tarian Medical: Dr. Sever!

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Dr. Wilbur Sever is a Medical Director for Tarian Medical and General Surgeon with Adena Surgical. In 2016, Dr. Sever was nationally recognized as one of only 21 Epicenters of Excellence for robot-assisted surgery. This designation puts Dr. Sever among the top half of one-percent of all general surgeons using robotics. He received his medical degree from Ohio University College of Osteopathic Medicine, and completed his residency from St. Elizabeth Health Center.

Announcing Our New Medical Director for Vascular Genesis: Dr. Mannava!

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Dr. Krishna Mannava is a Medical Director for Vascular Genesis and currently Chief of Surgery at Fairfield Medical Center as well as the director of vascular services there. He has a unique skill set that combines the latest minimally invasive endovascular techniques with traditional open surgical skills. He has been influential and passionate about the development of one of the largest dialysis access programs in the region.  Dr. Mannava received his medical degree from Northeastern Ohio Medical University.  He completed his residency at Case Western Reserve University and his vascular surgical training at the prestigious Ochsner Clinic in New Orleans.

Columbus Business First: Tissue engineering company raises $4M from international investors who 'fight to come in'

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Carrie Ghose's article for Columbus Business First:

A tissue engineering company developing materials to heal wounds and grow new blood vessels has raised $4.1 million in a round led by a Columbus "startup nursery."
ParaGen Technologies LLC is designed as a parent company for medical device subsidiaries that use its core microfilament technology for specific applications. The first four are for healing skin, treating sports injuries, growing blood vessels and repairing hernias.
The Hilliard company is a joint venture of Nanofiber Solutions LLC, which invented the technology, and Ikove Capital Partners. This is the largest single round yet led by Ikove, a Columbus technology commercialization firm that takes a hands-on approach – forming the companies, hiring leadership, connecting them to investors and often providing office and lab space.

WSJ: ParaGen’s Nanofiber Technology Picks Up Seed Funding

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Brian Gormley's article for The Wall Street Journal:

ParaGen Technologies is getting investors behind an unusual business model designed to enable widespread use of a nanofiber technology for several medical markets.

ParaGen is the parent of four startups applying the technology to areas from wound care to orthopedics. Because these markets are distinct, the company decided to create individual startups to target these fields. One ParaGen company, RenovoDerm, aims to secure regulatory approval to market this technology for wound healing next year.

Columbus, Ohio-based ParaGen has secured $4.1 million in seed financing and expects to close a $5 million Series A round early next year. Seed investors include Ikove Capital, a Columbus-based firm that co-founded ParaGen along with Nanofiber Solutions, a technology company that designs and manufactures nanofiber scaffolds, according to Ikove Managing Partner Flavio Lobato.

Ikove calls itself a “startup nursery” because it identifies technologies, vets their market opportunity, and builds teams to advance them. In so doing it looks to nurse technologies across the “Valley of Death,” the period in which ideas are promising but still too raw to attract substantial investment. Other Ikove companies include eLum Technologies, a developer of neurovascular devices.

By capitalizing on government and non-dilutive funding that supports early technology development, and the relatively low cost of doing business in the Midwest, Ikove can advance companies with relatively little equity funding, according to Managing Partner John D’Orazio.

RenovoDerm nanofiber scaffolds promote healing by mimicking structures in the body. The scaffolds provide a temporary framework for wound repair that helps healing occur more quickly and with less scarring, according to Chief Technology Officer Jed Johnson.

Potential wound-healing applications include diabetic ulcers, pressure ulcers, mole removal and plastic surgery. After securing regulatory clearance next year, the company plans to conduct additional research to decide which uses to pursue first. After narrowing it down, it would then work with third-party institutional researchers to gain more data to support marketing, according to ParaGen Chief Executive Ross Kayuha.

Introducing: Tarian Medical


Introducing our new portfolio company: Tarian Medical! Tarian is a medical device company developing a suite of hernia repair products to decrease complications and promote healthy tissue regrowth. Tarian Medical products are fully resorbable and designed to mimic the extracellular matrix found naturally in the body. This structure provides cells the environment needed to grow and regenerate healthy tissue, thus eliminating the problems associated with current hernia products.