JumpStart Invests $250,000 in Zuga Medical Funding and FDA Clearance Enable Product Launch
CLEVELAND, June 12, 2013 /PRNewswire/ -- Zuga Medical (www.zugamedical.com), a medical device company developing a dental implant system, has received a $250,000 investment commitment from nonprofit venture development organization JumpStart Inc. (www.jumpstartinc.org). Funding will be used to launch the company's FDA-approved Zuga® implant system that allows general practice dentists to perform procedures previously the domain of oral surgeons.
"From a clinical standpoint, Zuga Medical's implants are highly preferable to bridges, the more commonly used dental prostheses, as they provide a permanent solution with the same function as the original tooth," says CEO Steve Cornelius. "In addition, the Zuga system simplifies the entire procedure, freeing the patient to spend less time in the dentist office—all for about the same price as a bridge."
Zuga Medical's technology was invented by CSO and Founder Dr. Chan Wang. The company's Zuga® dental implant consists of a surgical-grade-titanium-threaded rod that is inserted in the jaw at the location of a missing tooth. A specialized abutment is added to the rod after installation, and a standard crown is attached. Zuga's technology is specially designed to simplify and streamline implant placement and restoration, allowing the dentist to provide implant services without the use of complex alignment systems and outsourced lab services.
"The dental implant market is poised to be a fast-growing segment in coming years," says JumpStart Venture Partner Michael Lang. "Thanks to Zuga Medical's technology, general practice dentists can offer patients the option to have these implants done efficiently and cost effectively right in their office—something that was not available until now."
In addition to JumpStart's investment, Zuga Medical has received funding from the Cuyahoga County North Coast Opportunities Fund and the Innovation Fund.
ZUGA MEDICAL Zuga Medical is a medical device company developing a series of proprietary products, accessories and programs to make dental implants simpler and more cost-effective. Its technology allows general practice dentists to perform procedures that used to be the domain of specialists or oral surgeons. For more information, visit www.zugamedical.com.
JUMPSTART INC. JumpStart accelerates the successes of diverse entrepreneurs, their companies and the ecosystems supporting them. Since 2004, the nonprofit development organization has given intensive business assistance to more than 380 entrepreneurial clients and been an investor in 74 early stage Northeast Ohio companies. For more information on the nonprofit development organization, visit www.jumpstartinc.org and follow @JumpStartInc on Twitter.