Navigation Links
BioCrossroads Invests in Medical Device Company Developing Revolutionary Absorbable Stent
Date:10/20/2011

INDIANAPOLIS, Oct.20, 2011 /PRNewswire/ --  BioCrossroads' Indiana Seed Fund has announced its twelfth investment, committing $300,000 to medical device start-up Zorion Medical.  Zorion is developing a breakthrough device that combines novel biomaterials with known drug and drug delivery technology in a unique design to treat cardiovascular disease. 

The initial product under development is a vascular stent that is being designed so that it will be absorbed in the body within three to six months following implantation.  Zorion recently completed a successful pre-clinical study that tested the absorption properties and biological response to the biomaterial scaffold.

The BioCrossroads funding will support further proof-of-concept (POC) work in another  pre-clinical study targeted for the first quarter of 2012.  In addition to the Indiana Seed Fund, Periculum Capital, an Indianapolis-based private investment and merchant banking group, has invested in Zorion. 

"Zorion's stent  has the potential to be revolutionary within  interventional cardiology where the market is significant with more than one million stent placements performed in the U.S. each year," said David Johnson, President and CEO of BioCrossroads.  "Zorion's experienced management team and innovative device represent a promising combination of talent and technology, and the company is exactly the type of start-up enterprise that fits into Indiana's entrepreneurial life sciences community.  The Hoosier state is fortunate to be on the receiving end of a truly measurable ‘brain gain' through the addition and relocation of the company's chairman and industry veteran, David Broecker, from Boston to Indianapolis."

"Our vision is to develop a product that completely disappears within 3 to 6 months after it has been implanted and the body has had a chance to heal the injured arterial site," said Zorion Medical's Broecker.  "If we are successful, our device will be more like a ‘splint' rather than a ‘stent'.  The funding from BioCrossroads and Periculum Capital are critical for us to advance our program through the next stages of development."

The majority of other absorbable stent products in development by major companies utilize polymer-based technologies which can take up to two years to absorb, can be difficult to implant, and have limited clinical application and utility.  Zorion's novel biomaterials and unique design will have the performance and deployment characteristics of drug-eluting metal stents with the promise of being completely absorbable, thereby avoiding many of the risks associated with permanent stents and eliminating the need for long-term drug therapy to prevent severe blood clots. 

 

About BioCrossroads
BioCrossroads (www.biocrossroads.com) is Indiana's initiative to grow, advance and invest in the life sciences, a public‑private collaboration that supports the region's existing research and corporate strengths while encouraging new business development.  BioCrossroads provides money and support to life sciences businesses, launches new life sciences enterprises (Indiana Health Information Exchange, Fairbanks Institute for Healthy Communities, BioCrossroadsLINX, and Datalys Center), expands collaboration and partnerships among Indiana's life science institutions, promotes science education and markets Indiana's life sciences industry.

About the Indiana Seed Fund I
The $6 million, return‑driven Indiana Seed Fund was launched in June 2005 and is managed by BioCrossroads with funding from BioCrossroads, the Indiana Finance Authority and the Indiana Economic Development Corporation.  The Seed Fund provides working capital in the range of $50,000‑$500,000 to promising Indiana life sciences companies at the preliminary stages of operation.

About Zorion Medical
Zorion Medical is focused on developing next-generation medical devices leveraging novel biomaterial science and unique design for breakthrough results.  The company's first product is a completely absorbable, drug-eluting stent being developed to treat cardiovascular disease.  The company intends to advance product development through initial clinical studies and will seek commercial partners for worldwide markets.  zorionmedical.com

 


'/>"/>
SOURCE BioCrossroads
Copyright©2010 PR Newswire.
All rights reserved

Related biology news :

1. Cancer Research Institute invests $450k in Oncovir to manufacture powerful immune stimulant
2. OGI invests in personalized medicine for age-related macular degeneration
3. OGI invests in drug discovery at InDanio Bioscience
4. JPMorgan Chase & Co., Invests $25,000 to Support Bring Me A Books San Jose Elementary School Library Initiative
5. Finland invests €1.85 million in pan-European infrastructure for biomedical research
6. University of Plymouth invests in dental research
7. NIGMS invests in scientific Grand Opportunities with Recovery Act funds
8. Texas invests record $3.5 million in startup cofounded by UTs Mauro Ferrari
9. Cell biologist Chris A. Kaiser to lead NIHs National Institute of General Medical Sciences
10. Virginia Tech biomedical engineers announce child football helmet study
11. Genomic sequence and comparison of 2 macaques reveal new insights into biomedical research
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/22/2016)... ANGELES , June 22, 2016 /PRNewswire/ ... identity management and verification solutions, has partnered ... edge software solutions for Visitor Management, Self-Service ... provides products that add functional enhancements ... partnership provides corporations and venues with an ...
(Date:6/20/2016)... , June 20, 2016 Securus Technologies, ... technology solutions for public safety, investigation, corrections and ... prisons involved, it has secured the final acceptance ... facilities for Managed Access Systems (MAS) installed. Furthermore, ... facilities to be installed by October, 2016. MAS ...
(Date:6/9/2016)... 2016  Perkotek an innovation leader in attendance control systems is proud to announce ... for employers to make sure the right employees are actually signing in, and to ... ... ... ...
Breaking Biology News(10 mins):
(Date:6/23/2016)... ... June 23, 2016 , ... STACS DNA Inc., the sample tracking software ... State Crime Laboratory, has joined STACS DNA as a Field Application Specialist. , ... Tremblay, President and COO of STACS DNA. “In further expanding our capacity as a ...
(Date:6/23/2016)... 2016  Blueprint Bio, a company dedicated to identifying, ... community, has closed its Series A funding round, according ... "We have received a commitment from Forentis Fund ... to meet our current goals," stated Matthew Nunez ... to complete validation on the current projects in our ...
(Date:6/23/2016)... ... June 23, 2016 , ... ClinCapture, the ... Convention Center and will showcase its product’s latest features from June 26 to ... a scientific poster on Disrupting Clinical Trials in The Cloud during the conference. ...
(Date:6/23/2016)... 22, 2016  Amgen (NASDAQ: AMGN ) ... QB3@953 life sciences incubator to accelerate the development ... laboratory space at QB3@953 was created to help high-potential ... for many early stage organizations - access to laboratory ... Amgen launched two "Amgen Golden Ticket" awards, providing each ...
Breaking Biology Technology: