Last week was huge for some of the companies that have gone through LaunchPad. LaunchPad is a part of the Orange County/Inland Empire regional SBDC network and partially funded by a grant from the US Small Business Administration. Bioniz Therapeutics, Inc. made two big announcements. On August 1st, they received $13 million in Series A funding. This funding will allow Bioniz to future advance peptide platform technology focused on selective blockade of key cytokines that modulate serious diseases. They also announced Dr. David Pyott as Chairman of the Board of Directors. He is the past Chairman and Chief Executive Officer of Allergan Inc.
On August 4th, Modulated Imaging announced that the National Institutes of Health awarded them a $1.8 million SBIR Phase II grant. Their goal is to further develop their Ox-Imager CS technology to predict and manage patients with diabetic foot ulcers. Once foot ulcers form, they are difficult to treat and become the number one reason for lower limb amputations. In addition to the grant, Modulated Imaging closed its first round of VC financing in July.
Also on August 4th, Deton Corp. made their announcement of $600,000 in oversubscribed seed financing. This round of financing gets Deton Corp., a medical device company, a few steps closer to becoming world renowned in non-invasive sample collection from the lower respiratory tract. Not only are they working on many fascinating products, such as the Cough Collector, they are also a participant in the Consortium for Technology and Innovation in Pediatrics. CTIP is a pediatric technology accelerator operated by the Center for Innovation at Children’s Hospital Los Angeles.
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