New Biomaterial that Stops Bleeding Wins Professor Venture Fair at U-Md. Bioscience Day
COLLEGE PARK, Md., Nov. 13 /PRNewswire-USNewswire/ -- A University of Maryland professor and doctoral student team who invented a new material that halts wound bleeding won the attention of a group of venture capitalists and the title of "Best Inventor Pitch for Bioscience Day 2008," held on Nov. 12.
Sponsored by the university's Office of Technology Commercialization, the College of Chemical and Life Sciences, and the Maryland Technology Enterprise Institute, or Mtech, the second annual "Professor Venture Fair" gave faculty and inventors the opportunity to pitch their new technologies to a team of five venture capitalists and entrepreneurs from the region. Presenters were judged based upon clarity of pitch and commercial viability.
Fischell Department of Bioengineering doctoral student Matthew Dowling and chemical and biomolecular engineering professor Srinivasa Raghavan won for nano-velcro, a new, patent-pending bio-material they're developing into two products: a sponge that is applied directly to a wound to stop hemorrhaging, and a spray that halts blood loss and seals tissue in a variety of situations, from minor surgical bleeding to life-threatening arterial punctures. Both products can be gently removed after wounds heal.
"Dowling [in his pitch] addressed all of the questions that needed to be answered for the judges to determine that there is a real market opportunity here," says Jim Chung, director of Mtech's VentureAccelerator Program.
Dowling and Raghavan create nano-velcro by attaching fatty grafts to the biopolymer chitosan, which is derived from the shells of crustaceans such as crabs and shrimp. The fatty grafts gently hook onto blood or soft tissue, similar to Velcro(R), enabling the chitosan to act directly and more effectively in blood coagulation and wound healing.
Dowling launched Remedium Technologies Inc. in 2
|SOURCE University of Maryland, College Park|
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