Nasseo, Inc. Joins BioInspire™ Medical Technology Incubator, Closes Seed Funding Round
Nasseo, Inc. is pleased to announce that it has closed its $520K seed financing round led by BioInspire™, a medical technology incubator, and an internationally renowned dentist. The Nasseo TiArray™ dental implant system is the first product based on Nasseo's proprietary implant surface modification technology.
San Diego, CA (PRWEB) February 15, 2013
Nasseo, Inc., a medical device company based in San Diego, CA, is pleased to announce that it has closed its $520K seed financing round. BioInspire™, a medical technology incubator that funded Nasseo earlier this year, leads the round along with an internationally renowned dentist. The Nasseo TiArray™ dental implant system, the first product based on Nasseo's proprietary implant surface modification technology, has been developed for diabetics and smokers with poor bone healing who are seeking dental implants but have limited treatment options with today's technology. Nasseo offers dentists cost-effective, high quality, and easy-to-use implants that significantly improve clinician productivity and expand patient care options.
BioInspire™ is a collaborative partnership between BioAccel®, Plaza Companies, and the City of Peoria, Arizona, that provides working capital and space to those companies selected and admitted per its application criteria. BioInspire™ focuses on directly addressing the challenges of commercializing medical devices by providing portfolio companies with assistance in funding, partnerships and mentorship.
Dr. Garrett Cale Smith, Co-Founder and CEO of Nasseo, says, “We are honored to be selected as a BioInspire™ portfolio company and to be identified as a medtech company that is poised for investment based upon the unmet clinical need that our enabling technology is addressing.”
Nasseo's technology has received increasingly enthusiastic reception from members across diverse sectors of the scientific and investment community. Most recently, Nasseo participated in World's Best Technology (WBT) Innovation Marketplace 2012, the premier showcase for life science and technology innovation. There, Nasseo was selected as part of an elite group to present its surface modification technology to venture capitalists and other attendees at the event, which is sponsored by Northrup Grumman. Kayvon Pourmirzaie, JD, Nasseo's Co-Founder and COO, confirms, “Our inclusion in BioInspire™ is a significant milestone as it gives us access to a wealth of resources and opportunities that will support moving forward aggressively with our go-to-market strategy.”
Nasseo is joining the BioInspire™ community at the same time as it experiences internal growth with the addition of Mr. Brian Jaffe to its Board of Advisors. Mr. Jaffe has over 15 years of senior level experience in dental implants and medical devices and is currently the president of Quantive LLC, a consulting firm specializing in helping dental and medical device companies launch new products in the United States. He was previously Vice President of Sales and Marketing at Implant Direct, a leading global manufacturer of dental implants and prosthetics that was acquired by Danaher Corporation for $300M in 2010. He holds an MBA from Harvard Business School and a Masters in Science Degree in Mechanical Engineering from UC Berkeley.
Dr. Smith says, “We are joining BioInspire™ and bringing Brian in at an exciting time in Nasseo's growth. We will continue to seek out every opportunity, internally and externally, to successfully commercialize our first product, the TiArray™ dental implant system, to reach a large and underserved group of patients.”
The company plans to raise a $3M+ Series A investment round in mid 2013 to catalyze production and sales.
About Nasseo, Inc.
Nasseo, Inc. is a medical device company using state of the art surface modification technology to provide patients and clinicians with the next generation of dental and orthopedic implants. The company is based in San Diego, CA. For more information, please visit our website at http://www.nasseo.com or contact us at info(at)nasseo.com.
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