Small Business Innovation Research Program Provides Seed Funding for R&D
Oregon City, Oregon, December 15, 2016 – NeuraMedica has been awarded a National Science Foundation (NSF) Small Business Innovation Research (SBIR) grant for $225,000 to conduct research and development (R&D) work on a novel dural clip and applier for durotomy repair in spine surgery. NeuraMedica’s proposal to the Biomedical Technologies: Biomedical Engineering topic was approved in December 2016 and provides 12 months of funding for engineering development and testing to further the commercialization of the dural clip device.
Openings in the dura mater (the protective membrane covering the spinal cord and contains cerebrospinal fluid) can result in cerebrospinal fluid leakage which, if not repaired, can cause potentially fatal medical complications. Currently, the dura is closed using fine suture, which is a difficult and time-consuming process as it often involves working down narrow working channels. Utilization of NeuraMedica’s bioabsorbable clip and applier system for dural closure will significantly reduce the time of dural closure, simplify the work of clinicians, and reduce surgery time and overall costs to the healthcare system.
“The National Science Foundation supports small businesses with the most innovative, cutting-edge ideas that have the potential to become great commercial successes and make huge societal impacts,” said Graciela Narcho, NSF acting director of the Division of Industrial Innovation and Partnerships. “We hope that this seed funding will spark solutions to some of the most important challenges of our time across all areas of science and technology.”
Once a small business is awarded a Phase I SBIR/STTR grant (up to $225,000), it becomes eligible to apply for a Phase II grant (up to $750,000). Small businesses with Phase II grants are eligible to receive up to $500,000 in additional matching funds with qualifying third-party investment or sales.
NSF accepts Phase I proposals from small businesses twice annually in June and December. Small businesses with innovative science and technology solutions, and commercial potential are encouraged to apply. All proposals submitted to the NSF SBIR/STTR program undergo a rigorous merit-based review process.
NeuraMedica is honored to receive this prestigious award which will further commercialization activities currently funded by both the Oregon Nanoscience and Microtechnologies Institute (ONAMI) and the Oregon Health & Science University (OHSU) Oregon Clinical & Translational Research-Bioscience Innovation Program (OCTRI-BIP).
To learn more about the NSF SBIR/STTR program, visit: www.nsf.gov/SBIR.
About the National Science Foundation's Small Business Programs: The National Science Foundation (NSF) awards nearly $190 million annually to startups and small businesses through the Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) program, transforming scientific discovery into products and services with commercial and societal impact. The non-dilutive grants support research and development (R&D) across almost all areas of science and technology helping companies de-risk technology for commercial success. The NSF is an independent federal agency with a budget of about $7 billion that supports fundamental research and education across all fields of science and engineering.
About NeuraMedica: NeuraMedica is a medical device company specializing in products for neurosurgery and other surgical specialties. NeuraMedica is located in Oregon City, Oregon and is a member of the growing medical device industry that now comprises over 700 Oregon-based, bioscience-related entities. NeuraMedica is both woman-owned and minority-owned (Native American) and is dedicated to contributing to the local economy by hiring the best candidates including those in underrepresented groups. The company was founded in 2014 by Biomedical Engineer Rachel Dreilinger (Co-founder and CEO) and Neurosurgeon Neil Roundy M.D. (Co-founder and Chief Medical Officer) to develop a straightforward solution to dural repair that benefits surgeons, hospitals, and patients. NeuraMedica aims to create a thriving company that is focused on commercializing devices for neurosurgery.