BioCircuit Technologies, which was spun off from technology licensed through Virginia Commonwealth University, has raised $9 million in debt financing and plans to bring a health care technology product to market in 2023.
A few years ago, Dr. Jonathan Isaacs, a professor at VCU Medical Center, began exploring new ways to repair nerve damage. The current method uses sutures, but Issacs thought wrapping the nerve would be better. He drew out a design on a piece of paper and patented the idea through VCU. A mutual friend connected Issacs with Atlanta’s Axion Biosystems about developing a working prototype.
“There is no question that this is [Issacs’] idea,” said Dawson Reimer, head of business and commercial development at BioCircuit Technologies. “He was experimenting on his own with some rudimentary designs about doing sutureless nerve damage repair. …The engineers at Axion thought they might be able to help him achieve his idea.”
The company licensed the technology from…
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