U.S. Markets closed
  • S&P 500

    3,841.94
    +73.47 (+1.95%)
     
  • Dow 30

    31,496.30
    +572.16 (+1.85%)
     
  • Nasdaq

    12,920.15
    +196.68 (+1.55%)
     
  • Russell 2000

    2,192.21
    +45.29 (+2.11%)
     
  • Crude Oil

    66.28
    +2.45 (+3.84%)
     
  • Gold

    1,698.20
    -2.50 (-0.15%)
     
  • Silver

    25.30
    -0.17 (-0.65%)
     
  • EUR/USD

    1.1916
    -0.0063 (-0.5243%)
     
  • 10-Yr Bond

    1.5540
    +0.0040 (+0.26%)
     
  • Vix

    24.66
    -3.91 (-13.69%)
     
  • GBP/USD

    1.3834
    -0.0060 (-0.4344%)
     
  • USD/JPY

    108.3600
    +0.3840 (+0.3556%)
     
  • BTC-USD

    50,753.36
    +2,561.48 (+5.32%)
     
  • CMC Crypto 200

    982.93
    +39.75 (+4.21%)
     
  • FTSE 100

    6,630.52
    -20.36 (-0.31%)
     
  • Nikkei 225

    28,864.32
    -65.79 (-0.23%)
     

ReSuture receives Phase I funding from the NSF SBIR Program

  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
  • Oops!
    Something went wrong.
    Please try again later.

PHOENIX, Feb. 15, 2021 /CNW/ -- ReSuture has recently announced that they have been selected for the National Science Foundation's Small Business Innovation Research (SBIR) award. ReSuture will receive $256,000 of non-dilutive funding for research and development related to their proposal Open Vascular Training System for Surgical Skill Acquisition and Evaluation. The NSF SBIR program seeks innovative proposals that show promise of commercial and societal impact and is highly selective - with less than 15% of applicants receiving the grant. Using a merit review process, experts in the field evaluate each proposal prior to approval. The SBIR program is Congressionally mandated and intended to build a strong national economy by supporting scientific excellence and technological innovation through the investment of federal research funds in the private sector.

"As young entrepreneurs it's so great to see that the NSF believes in what we are trying to accomplish"

This grant will enable ReSuture to expand the capabilities of their system to allow for the quantitative assessment of surgical skill. The proposed work will allow for the standardization of surgical education and evaluation - positioning ReSuture as the gold standard for medical training. The company's CEO, Hannah Eherenfeldt, stated "This SBIR award is instrumental in allowing our company to realize our mission of improving surgical outcomes through advanced training. As young entrepreneurs it's so great to see that the NSF believes in what we are trying to accomplish and it's an honor to receive such a selective grant. "

The announcement of this grant comes at an exciting time of growth for ReSuture. The company recently received investment from the global venture capital firm SparkLabs, launched an initial set of vascular surgery training solutions, and was accepted into the ASU-Mayo Clinic MedTech Accelerator. COO Benjamin Knapp stated "Receiving the NSF SBIR is a huge milestone for us. We've got some incredible ideas in the works that will continue to transform surgical training. This is key to bringing them to fruition and I can't wait to share what we have coming next."

About ReSuture:

ReSuture is committed to improving patient care by modernizing surgical training. ReSuture's innovative technology delivers the most accurate procedural experience outside the operating room - allowing surgeons to perfect necessary skills currently learned on-the-job. The company's synthetic vasculature (veins, arteries) can be installed in a benchtop system that provides "blood" flow to replicate clinical scenarios. The incorporation of anatomical complexities such as plaque and thrombus in ReSuture's vasculature makes it the most clinically accurate model on the market. ReSuture was founded by two biomedical engineers who believe that current medical training products are not sophisticated enough to tackle today's challenges. The company's vision is to become the predominant system for the training and credentialing of healthcare providers, creating critical tools to gain operative experience in a safe and controlled environment.

About the National Science Foundation - Small Business Innovation Research Program:

The National Science Foundation's Small Business Innovation Research (SBIR) program, also known as America's Seed Fund, provides small businesses with equity-free funding to conduct research and development (R&D) work that will lead to the commercialization of innovative new products and services. SBIR Phase I proposals are expected to outline R&D projects with the aim of establishing technical feasibility or proof of concept of unproven, risky technologies. Successful applicants will receive a grant of up to $256,000 over a period of 6 to 12 months.

Contact:
Ben Knapp
802-380-5008
ben@resuture.com

Cision
Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/resuture-receives-phase-i-funding-from-the-nsf-sbir-program-301228497.html

SOURCE ReSuture

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2021/15/c9299.html