Boulder, Colorado, Aug. 18, 2020 (GLOBE NEWSWIRE) -- Aspero Medical, a medical device startup focused on developing solutions and applications for the field of gastroenterology, has received a $225,000 grant from the National Science Foundation (NSF) for the purpose of developing an advanced intraoperative endoscopic balloon overtube to use in gastrointestinal (GI) and endoscopy procedures. Aspero Medical is a spinoff of the University of Colorado Boulder and a graduate company of Innosphere Ventures' commercialization program.
The NSF grant funds will be used to further develop Aspero Medical’s C-Tube product line that incorporates their proprietary PillarTM micro-texture technology. “This investment will allow us to finalize an entirely new balloon and overtube design that will enable consistent and complete colonoscopy procedures,” said Dr. Rentschler, Aspero Medical CEO. “We are extremely grateful to have received this grant from the National Science Foundation.”
Balloon endoscopy has become the standard of care in the drive to diagnose and treat small bowel disease. However, the current balloons used in these procedures are smooth and round making them prone to slippage. These ineffective balloons result in an estimated $100 million in increased annual costs for healthcare providers and patients. Every year in the U.S., over 51.5 million gastrointestinal endoscopies are performed.
The project will be led by principal investigator (PI) Mark Rentschler and supported through Prospect Life Sciences. Rentschler is Chief Executive Officer for Aspero Medical and Professor of Mechanical Engineering at the University of Colorado Boulder.
“NSF is proud to support the technology of the future by thinking beyond incremental developments and funding the most creative, impactful ideas across all markets and areas of science and engineering,” said Andrea Belz, Division Director of the Division of Industrial Innovation and Partnerships at NSF. “With the support of our research funds, any deep technology startup or small business can guide basic science into meaningful solutions that address tremendous needs.”
“The National Science Foundation grant combined with previous investment from Innosphere Ventures and the State of Colorado OEDIT Advanced Industries grant program will enable the next stage of development for this novel technology,” said James Willett, senior strategic advisor and Aspero Medical Board Member. “We look forward to carrying this project to full commercialization and expanding the options currently available for endoscopic gastrointestinal procedures.”
“There are significant limitations with current technology used in gastrointestinal endoscopy procedures, but Aspero has developed an alternative that will potentially improve performance of certain procedures, save time for practitioners and patients, and improve patient outcomes,” said Mike Freeman, Innosphere Ventures general partner. “Innosphere has worked with impressive university faculty over the years, and we found Mark Rentschler to be an outstanding CU professor and researcher who understands what’s required to transfer and commercialize technology from the university setting.”
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