SAN DIEGO, April 21, 2021 /PRNewswire-PRWeb/ -- Octet Medical, Inc., a start-up medical device firm, today announced a successful Series A financing round led by RJ Valentine Ventures/The MBA Group and successful medical device entrepreneur, Cliff Wright, Co-founder of Victory Innovations, Inc. The new funding will be used to advance the development of OMEA, Octet's innovate electrostatic sprayer platform.
The funding will drive technical development and prototyping of the Octet Medical Electrostatic Applicator (OMEA), an innovative medical device that is being designed to leverage electrostatic technology for use in application and treatment of topical conditions. Wright, who is Octet's founder and the inventor of the OMEA Applicator, has previously partnered with Valentine's MBA Group to build up Victory Innovations, Inc., which commercializes Wright's Victory® electrostatic sprayer for use in the consumer sector. In September 2020, The Carlyle Group (NASDAQ: CG) acquired a majority stake in Victory Innovations in the midst of Covid-19 driven record sales.
"We are very pleased to have closed this significant Series A round, especially in the midst of the economic uncertainty caused by the pandemic, which further underscores how disruptive the OMEA platform is expected to be," said Bud Brainerd, CEO of Octet Medical. "We see the stem cell application market and the burn and wound care market as areas where OMEA can have an immediate and disruptive impact."
"Electrostatic technology uses the physics of electromagnetic forces which we believe will greatly enhance the ability for healthcare professionals to apply a chosen reagent to a specific tissue target," said Wright, who will serve as Chairman on the company's Board of Directors. "OMEA embodies the burgeoning convergence of science and technology, and I am delighted to be investing with RJ and the MBA Group once again in another transformational technology platform." For more information, please visit: http://www.octetmedical.com.
About Octet Medical, Inc.
Octet Medical is a San Diego-based medical device company focusing on developing electrostatic technology to enhance the application and treatment of topical conditions. OMEA, the company's leading asset, uses a proprietary design to electrostatically charge reagents, enabling the particles to fully disperse into the contours of a target tissue and adhere to the desired area. Octet believes that the platform can enhance the ability to provide significantly greater coverage with less volume of reagent and that this efficiency will yield health-economic advantages. For more information, please visit http://www.octetmedical.com.
Bud Brainerd, CEO
Bud Brainerd, Octet Medical, +1 858-252-7085, [email protected]
SOURCE Octet Medical