O2 RegenTech, a medical device startup out of the University of Akron, has received a boost with $100,000 in funding from the Innovation Fund Northeast Ohio, according to the university.
Founded in 2013 by Nic Leipzig, an associate professor in chemical and biomolecular engineering, O2 RegenTech specializes in wound-care solutions based on technology developed by Leipzig. Andreas Inmann, O2 RegenTech's president and CEO, helped Leipzig commercialize his work. The company's primary product, OXAID, is an oxygen-releasing, antimicrobial dressing for the treatment of chronic wounds.
"This funding will be instrumental in moving our technology closer to regulatory submission and commercialization," Inmann said in the release. "It will help the company to run the necessary tests on its technology to prepare for FDA approval."
In a 2015 Crain's story, Inmann said when the product goes to market, the company hopes to produce it in Northeast Ohio.
Inmann — who has two decades of experience working with medical devices and previously served as director of product development for NDI Medical — connected with Leipzig through Akron's Leading Entrepreneurial Academics into Practice (LEAP), an entrepreneurial program that matches academics with industry experts who help them through the process of commercializing their research.
O2 RegenTech has also received funding from the Great Lakes Innovation and Development Enterprise, JumpStart Inc., Ohio Third Frontier, National Science Foundation and National Institutes of Health.