Aspero Medical Receives $310,000 Grant for Development of Pillar(TM) Micro-Textured Gastrointestinal Endoscopic Balloon Overtube
BOULDER, Colo., Sept. 16, 2020 /PRNewswire/ -- Aspero Medical, a medical device startup focused on developing solutions and applications for the field of gastroenterology, has received a $310,000 grant from the National Institutes of Health for the purpose of developing an endoscopic single balloon overtube incorporating the company's core Pillar™ micro-texture technology.
The NIH grant funds will be used to further develop and refine Aspero Medical's single balloon overtube product with integrated inflation capability, designed primarily for small bowel enteroscopy. "We are incredibly pleased to receive this phase one grant funding from the NIH and plan to utilize the funds to advance the development and introduction of a next generation single balloon overtube for GI endoscopy procedures," said Dr. Rentschler, Aspero Medical CEO. "This novel balloon design will have a significant impact for both caregivers and patients."
Balloon endoscopy has become the standard of care in the drive to diagnose and treat small bowel disease. Unlike the Aspero Medical balloon, which is characterized by the addition of a proprietary gripping micro-texture, current balloons are smooth and round, making them prone to slippage. Ineffective balloons are estimated to result in over $100 million in increased annual healthcare costs annually due to incomplete or lengthened procedures.
The single balloon overtube project will be led by principal investigator (PI) Mark Rentschler and supported through Prospect Life Sciences of Broomfield, CO. Rentschler is Chief Executive Officer for Aspero Medical and Professor of Mechanical Engineering at the University of Colorado Boulder.
"It is immensely valuable to have the support of the National Institutes of Health with the development of this next generation product for the gastrointestinal endoscopy market," said Dr. Steven Edmundowicz, Chief Medical Officer for Aspero Medical. "The ever-increasing number of patients suffering with small bowel disease requires that we look to develop innovative diagnostic and treatment options. We look forward to ensuring that the Aspero Medical product is available for all cases where the innovative design can make a difference."
"We are very pleased to see this additional support from the NIH for Aspero Medical. We believe the Aspero Medical technology has the potential to improve the performance of certain gastrointestinal endoscopy procedures, save time for practitioners and patients, and improve patient outcomes," said Mike Freeman, Innosphere Ventures general partner. "We look forward to continuing to support the company and the ongoing development efforts."
This research is supported by the National Institute of Diabetes and Digestive and Kidney Diseases of the National Institutes of Health under Award Number R43DK126504. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.
About the NIH:
This research is supported by the National Institute Of Diabetes And Digestive And Kidney Diseases of the National Institutes of Health under Award Number R43DK126504. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.
About Innosphere Ventures:
Innosphere Ventures accelerates the success of science and technology-based startup and emerging companies and operates a seed stage venture capital fund. As Colorado's leading incubation program and commercialization expert, Innosphere's program focuses on ensuring companies are investor-ready, connecting founders with experienced advisors and early hires, making introductions to corporate partners, exit planning, and accelerating top line revenue growth. Innosphere has been supporting Colorado startups for over 20 years and is a non-profit 501(c)(3) organization with a strong mission to create jobs and grow Colorado's entrepreneurship ecosystem. www.innosphere.org
About Aspero Medical
Aspero Medical's Pillar™ micro-texture technology was developed at the University of Colorado. The technology was developed to improve gastrointestinal endoscopy procedure performance and outcomes. Aspero Medical was founded in 2018 by Mark Rentschler, PhD, PE, Professor of Mechanical Engineering at the University of Colorado Boulder, and Steven Edmundowicz, MD, Professor and Medical Director of the Digestive Health Center at the University of Colorado Anschutz Medical Center, and received initial equity funding through Innosphere Ventures, Fort Collins, Colorado. www.asperomedical.com
Mark Rentschler, Ph.D.,P.E., CEO
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SOURCE Aspero Medical