This award will offer a significant boost as we initiate production and sales of the Nasseo TiArray™ Dental Implant for patients in need. - Dr. Garrett Cale Smith (Nasseo CEO)
Phoenix, AZ (PRWEB) June 18, 2013
Nasseo, Inc. today announces that it has been named the 2013 Innovation Challenge Winner out of hundreds of applicants by the Arizona Commerce Authority (ACA) in its spring Arizona Innovation Challenge. The Arizona Innovation Challenge (AIC) awards the most money in the country for a technology commercialization challenge, granting a financial award to what it deems to be the world’s most promising technology ventures. Nasseo’s state of the art dental and orthopedic implant surface modification technology captured the attention of the ACA this year. With this victory, Nasseo is honored to accept a $250,000 grant award to commercialize their first product, the TiArray™ Dental Implant.
In the ACA’s press release about the award, Nasseo was described as “inventive Arizona entrepreneurs who are creating technology solutions with potential global implications.” Nasseo is headquartered at the BioInspire Medtech incubator in Peoria, AZ which is sponsored by BioAccel who also invested $300K into the company as part of the seed round.
Nasseo’s medical innovation has resonated with audiences across industries. The company most recently won CONNECT’s Life Sciences Capital Competition earlier this year, earning it prestigious membership as a CONNECT Portfolio Company and the distinction as a “Rock Star of Innovation” by CONNECT. Prior to that, Nasseo had been invited to showcase its work at the 2012 World’s Best Technology (WBT) Innovation Marketplace and the 2013 National Innovation Showcase. And in its earliest victory, Nasseo made history at the UC San Diego (UCSD) Business Plan Competition, as the first startup to win both the UCSD Entrepreneur Challenge Executive Summary and Business Plan Competitions in the same year.
Dr. Garrett Cale Smith, PhD, CEO of Nasseo says, “We appreciate AIC’s recognition of the urgency to commercialize our ground-breaking technology. Not only is this implant technology unique, but the implications are far-reaching. This award will offer a significant boost as we initiate production and sales of the Nasseo TiArray™ Dental Implant for patients in need.”
The company’s efforts to raise a $2M+ Series A investment round by the Fall of 2013 are also underway. Along with today’s award, the Series A funding will be used toward production and sales of the company’s TiArray™ Dental Implant to improve dental implant standards. The funding will also be used to develop a PEEK based spinal implant that integrates Nasseo’s same core implant surface modification technology.
About Nasseo, Inc.
Nasseo, Inc. is a medical device company using state of the art implant surface modification technology to provide patients and clinicians with the next generation of dental and orthopedic implants. The company is based in Phoenix, AZ and San Diego, CA. For more information, please contact us at info(at)nasseo(dot)com.