Obsidio, Inc. Awarded Prestigious Fast Track Small Business Innovation Research Grant by National Heart, Lung, and Blood Institute
The grant will provide up to $2.1 million to support the development of gel embolic material (GEM) for transcatheter embolization
COLUMBIA, S.C., July 13, 2021 /PRNewswire/ -- Obsidio, Inc., a privately held company developing minimally invasive embolic products for use in vascular embolotherapy, today announced it has been awarded a $2.1 million Fast Track Small Business Innovation Research (SBIR) grant from the National Heart, Lung, and Blood Institute (NHLBI). The non-dilutive funds will support the development of Obsidio's embolic hydrogel material.
"Obsidio will deploy these funds to advance the gel embolic material into pilot trials to address applications in peripheral, neurovascular, and tumor embolization and enhance the performance of the biomaterial," said Dr. Ehsan Jabbarzadeh, Obsidio's Chief Executive Officer. "Today, there is a major gap in the standard of care, including high rebleeding rates, non-target embolization, unpredictable economics, and most importantly, dependence on patients' ability to clot. Our technology provides a significant opportunity to advance the embolization industry and improve patient outcomes."
Obsidio is developing a shear-thinning biomaterial that has significant advantages over existing products for transcatheter intravascular embolization. Deploying the biomaterial is a minimally invasive procedure used to control bleeding, occlude vessels supplying blood to a tumor, eliminate abnormal connections between arteries and veins, and treat aneurysms. "This shear-thinning biomaterial is also easy to use and will cut down procedure-time and radiation exposure to the patient and operator, enhancing the overall physician experience," said Dr. Rahmi Oklu, a vascular interventional radiologist and the Chief Medical Officer of Obsidio.
Obsidio's embolization material can be used for a broad range of indications, is injectable via a wide range of catheters, is compatible with most imaging techniques, and will be available off-the-shelf, eliminating the inventory costs associated with embolic devices such as coils used today.
About Obsidio Inc.
Obsidio Inc. is a venture capital-funded medical device startup dedicated to the research, development, and commercialization of breakthrough embolotherapy products. http://obsidiomed.com
About the SBIR Program
The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are highly competitive programs that encourage domestic small businesses to engage in Federal Research/Research and Development (R/R&D) with the potential for commercialization. Through a competitive awards-based program, SBIR and STTR enable small businesses to explore their technological potential and provide the incentive to profit from its commercialization. By including qualified small businesses in the nation's R&D arena, high-tech innovation is stimulated, and the United States gains entrepreneurial spirit as it meets its specific research and development needs. https://www.sbir.gov/
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SOURCE Obsidio, Inc