San Antonio, TX (PRWEB) April 21, 2015
Invictus Medical has secured the worldwide commercialization rights from a prestigious Illinois university for a second innovative technology aimed at making neonatal intensive care units (NICUs) more conducive to newborn infants’ cognitive development.
“This technology addresses one of the top three NICU problems we have identified through extensive interviews and input from hundreds of neonatal care professionals,” said George Hutchinson, Invictus Medical’s Chief Technology Officer. “We believe this represents an opportunity to solve a major and widespread NICU problem and give newborns a better chance to start their lives in a healthier way.”
To support the commercialization of the technology, Invictus Medical, the San Antonio-based medical device company dedicated to providing newborns with healthy developmental milestones, will leverage this university relationship with funding from the National Science Foundation (NSF). The NSF recently awarded Invictus Medical with Phase I grant funding of $240,000 for research and development. An additional $750,000 is available in a Phase II NSF grant for commercializing the technology.
The company is nearing the commercialization of its first product, the GELShield™, an extracranial pressure relief device, following clearance by the Food and Drug Administration.
“Our focus on helping fragile newborn infants requires us to develop and commercialize innovative solutions to real problems,” said Tom Roberts, Invictus Medical President and CEO. “The GELShield is our first significant achievement in fulfilling our mission, and the securing of this new technology is the next step. We’re pleased that the NSF also saw this new technology’s potential and the need to accelerate the advancement of this novel solution.”
In addition to the NSF grant, to date Invictus Medical has successfully raised approximately $5 million. The company is in the process of securing an additional $4.5 million in Series B funding to support the commercialization efforts of the GELShield.
About Invictus Medical
Invictus Medical is a San Antonio, Texas-based medical device company that aims to ensure that children are able to attain their developmental milestones. As evidenced by their award-winning innovations, Invictus Medical has been at the forefront of pediatric care since its founding in 2012. Invictus Medical is a privately held company. For more information about Invictus Medical, please see http://www.Invictusmed.com.