NeuraMedica Inc. Receives $1.5 Million in Grant Funding from the NIH
Small Business Innovation Research Program Provides Seed Funding for R&D
Oregon City, Oregon, August 10, 2018 – NeuraMedica Inc. announced a National Institute of Health (NIH) Small Business Innovation Research (SBIR) Phase II grant for $1.5M for continued development of a novel bioabsorbable clip and applier for durotomy repair in spinal surgery. This SBIR Phase II grant was awarded in June 2018 through the National Institute of Neurological Disorders and Stroke (NINDS) and provides 24 months of funding for continued research and development.
The dura is the protective membrane that covers the brain and spinal cord. Openings or tears in the dura can result in cerebrospinal fluid leakage which, if not repaired, can cause potentially fatal medical complications, including spinal headaches, nerve root entrapment, pseudomeningocele, and meningitis. Dural closure can be very time-consuming and difficult as it often involves painstakingly suturing the opening with very fine suture in difficult surgical conditions. NeuraMedica’s bioabsorbable dural clip and applier system is designed to create a secure dural closure in a fraction of the time compared to suturing, simplifying the work of clinicians and saving surgeons and hospitals significant time and money.
NeuraMedica Inc. is honored to receive this prestigious award which will further research and development activities. In addition to the NIH award, NeuraMedica Inc. has raised $752k in outside funding, including a National Science Foundation (NSF) SBIR Phase I grant, a Business Oregon SBIR Phase I Matching Grant, Gap funding through the Oregon Nanoscience and Microtechnologies Institute (ONAMI), and a Biomedical Innovation Program award through the Oregon Clinical & Translational Research Institute (OCTRI) at Oregon Health & Science University (OHSU). NeuraMedica is a startup company based on technology originally developed at OHSU. To learn more about the NIH SBIR program, visit: https://sbir.nih.gov/.
About the National Institute of Health Small Business Programs:
In 2018, the National Institute of Health (NIH) will invest over $1B into startups and small businesses through the Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) program. The non-dilutive grants support health and life science companies that are creating innovative technologies that align with NIH’s mission to improve health and save lives. A key objective is to translate promising technologies to the private sector and enable life-saving innovations to reach consumer markets.
Research reported in this publication was supported by the National Institute of Neurological Disorders and Stroke of the National Institutes of Health under Award Number R44NS107104. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.
About NeuraMedica Inc.:
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.