TechGrowth Ohio Closes on Funding to Propel Resilient Medical Toward Market Entry
ATHENS, Ohio (PRWEB) June 29, 2023 -- Athens, OH-based Resilient Medical Corp (Resilient) received its initial investment funding from the TechGrowth Ohio (TGO) Fund. The TGO investment will enable the promising medical device company to lease and build out laboratory space, navigate the regulatory approval process, and better position its Bravo™ device for rapid market entry.
“Both the investment and guidance that we are receiving from TechGrowth are serving as the catalyst that will make our revolutionary device possible,” said Resilient founder and CEO, Dr. Andrew Weems, PhD. “Bravo has the potential to make a dramatic improvement in breast cancer treatments, but we needed this funding and TechGrowth’s assistance to launch us on the path to market.”
Resilient’s Bravo™ device has the potential to make an enormous impact in breast cancer treatment and lumpectomy procedures, with potential applications in the broader reconstructive surgery space. The US lumpectomy market alone is estimated at over $280M per year.
Bravo is designed for implant during a routine lumpectomy procedure with two key benefits. The first is that Bravo eliminates the need for breast cancer patients to have follow-up cosmetic reconstruction procedures. Bravo will be naturally eroded by the patient’s native tissue over time as the patient heals. Second, the Bravo device acts as a radiocontrast target for post-operative adjuvant therapies which are routine for nearly all breast cancer lumpectomy procedures. The combined benefits lead to a far less invasive and less traumatic overall experience for a breast cancer patient.
Over 250,000 cases of breast cancer are diagnosed in the USA each year and 170,000 lumpectomies are performed each year. The two current surgical procedures for breast cancer, lumpectomies and mastectomies, are immensely invasive to the patient, both physically and psychologically. The Bravo device has the potential to significantly reduce the number of required procedures and their repercussions.
Resilient’s initial patent was issued in March 2023, with additional US and international patents pending. The company expects to achieve FDA clearance for Bravo as a Class II implantable medical device within the next two years.
Resilient Medical Corp was founded by Dr. Andrew Weems (PhD). Weems is an assistant professor of mechanical engineering at Ohio University specializing in medical devices and biomedical engineering, with previous startup experience translating technologies from a university lab, through FDA approval, and on to the clinic. Co-founder Dr. Elizabeth Lawson (MD) has more than 40 years of experience in oncoplastic surgery specializing in lumpectomies and breast conservation surgery. The cofounders designed, and are inventors of, the Bravo device.
TechGrowth Ohio is a $75 million public-private partnership based at Ohio University (OHIO). As one of the premier programs of the Ohio University Voinovich School of Leadership and Public Service, TechGrowth Ohio has a strong track record of partnering with creative entrepreneurs to take their ideas to market. You can learn more at http://www.techgrowthohio.com.
Karen Sullivan, TechGrowth Ohio, http://www.techgrowthohio.com, 1 6147991670, [email protected]
Share this article