Funding will extend the Nerve Tape product line and accelerate clinical adoption.
ATLANTA, Nov. 20, 2024 /PRNewswire-PRWeb/ -- Medical device company BioCircuit Technologies has received a prestigious funding award towards further development of Nerve Tape®, the first device for sutureless nerve repair. Sponsored by the National Institutes of Health (NIH), the grant provides an immediate $1.2 million with the intent to fund $2.96 million over three years.
The funding will be used to extend the Nerve Tape® product line and gather further evidence promoting continued surgeon adoption. The support will be shared with grant partner and co-inventor Dr. Jonathan Isaacs in the Orthopaedic Microsurgery Laboratory at Virginia Commonwealth University.
The project (R44NS097113-06) is sponsored by the NIH's National Institute of Neurological Disorders and Stroke (NINDS) and administered through the Small Business Innovation Research (SBIR) program's Phase IIB mechanism, which provides additional support for projects that merit extraordinary investment.
Previous NINDS SBIR funding for Nerve Tape's development includes Phase I, Phase II, and Commercial Readiness Pilot (CRP) stage grants, which were each instrumental in developing the device from the prototype stage to FDA clearance and clinical launch. The now commercialized device is already changing the paradigm for nerve repair in hospitals and surgery centers across the country. Based on Nerve Tape's success, NINDS highlighted the device in its recent 2024 Congressional Budget Justification.
About Nerve Tape
Each year, millions of patients around the world suffer traumatic peripheral nerve injury, leading to paralysis, loss of sensation, and chronic pain. Traditional repair techniques require severed nerve ends to be sewn back together with hair-thin suture thread under a microscope - a complex and time-consuming technique with inconsistent results.
Nerve Tape enables simple wrapping of nerve ends for a quick and precise connection. The device consists of a flexible biomaterial backing with integrated microscopic hooks. These microhooks attach shallowly but firmly to the nerve's outer connective tissue for a safe and strong repair. Nerve Tape achieved clinical launch in spring 2024, and since then an estimated 1000 devices have been implanted by surgeons within over 50 sites across the US.
Nerve Tape is indicated for the repair of peripheral nerve discontinuities where gap closure can be achieved by flexion of the extremity.
About BioCircuit Technologies
Based in Atlanta, GA, BioCircuit Technologies develops and commercializes medical devices for tissue repair and neuromodulation as well as biologic materials for regenerative medicine. Designed for precision, ease-of-use, and reliability, these devices enhance surgical efficiency and therapeutic targeting for improved patient outcomes.
In addition to generous NIH funding, BioCircuit has attracted private financing, including investment from the GRA Venture Fund, Masters Capital, and Alsora Capital.
For more information visit www.biocircuit.com.
Stay up to date with BioCircuit Technologies on Linkedin.
Media Contact
Dr. Isaac Clements, BioCircuit Technologies, 1 7704687700, [email protected], https://www.biocircuit.com/
SOURCE BioCircuit Technologies
Share this article