TUCSON, Ariz., Nov. 18, 2019 /PRNewswire/ -- UAVenture Capital Fund (UAVC), a Tucson-based venture capital fund dedicated to the commercialization of University of Arizona discoveries, products, technologies and services, today announced its thirteenth investment.
The Fund has invested in StimAire, Inc. where breakthrough technology may revolutionize the treatment for Obstructive Sleep Apnea (OSA). StimAire replaces today's surgically implanted neural stimulation devices with a small wearable and a tiny injectable device. The technology will eliminate major surgery and associated complications, risks, and costs. The total market opportunity for StimAire's neural stimulation is tens of billions of dollars and includes treatments for obstructive sleep apnea (OSA), bladder control, epilepsy, Parkinson's and central and peripheral pain.
Dr. Abhay Sanan, a neurosurgeon with the Center for Neurosciences and Clinical Assistant Professor in both the Division of Neurosurgery and the Department of Radiation Oncology at the University of Arizona is the company's Chief Medical Officer.
Professor Sairam Parthasarathy, MD, Chief of the University of Arizona Division of Pulmonology, Allergy, Critical Care and Sleep Medicine, is the Principal Investigator of the company's human clinical studies.
Tarek Makansi PhD, President and Chief Technology Officer of StimAire, said, "As a serial entrepreneur, I'm thrilled to be part of the UAVC funding that is making a pivotal advancement in our startup economy. StimAire will now develop therapies that can decimate costs and simultaneously benefit millions. The Tucson metro area, anchored by the University of Arizona, has what we need to carry out our ambitious plans: world-class medical professionals, sleep laboratories, clinical facilities, and top engineers and scientists."
"We are pleased that UAVenture Capital continues to engage with our faculty to help create an ecosystem of research, innovation, invention and commercialization," said President of the University of Arizona Robert C. Robbins. "Our College of Medicine, founded in 1966, is just one of our many centers of excellence within our University. We are delighted that Dr. Parthasarathy will lead the human clinical studies for StimAire beginning in early 2020."
"This unique medical device is one of the most important and topical inventions we have seen. Millions of sleep apnea patients are non-compliant with CPAP and are at risk every night. StimAire has developed a unique and innovative solution that will provide restful sleep and OSA prevention for countless apnea sufferers," stated Fletcher J. McCusker, UAVenture Capital Founder and CEO.
UAVenture Capital Fund II, LLC is a Tucson based investment fund designed specifically to help finance University of Arizona connected enterprises including the commercialization of faculty led innovations originating at the UofA. The fund provides early stage capital to companies where the science or service array was pioneered by faculty members, students and/or colleagues at the University of Arizona, one of the top research universities in the world.
About the University of Arizona College of Medicine:
At the UA Department of Medicine, there are more than 250 faculty physicians on staff spread across 14 divisions representing all subspecialties in internal medicine and related research. The college participates in the education of about 500 medical students in Tucson, Arizona offering clerkship and sub-internship opportunities for third and fourth years, with an interest in internal medicine and rotation electives in all of our subspecialties. In addition to the many medical students we teach, our faculty physicians train more than 130 resident physicians in our two Internal Medicine Residency Programs (Tucson and South Campus) and our Dermatology Residency Program.
The college also trains about 70 fellows in various subspecialties in our 17 fellowship programs accredited by the Accreditation Council for Graduate Medical Education (ACGME). In addition, graduates of our Fellowship in Integrative Medicine, through the UA Andrew Weil Center for Integrative Medicine, are eligible for board certification from the American Board of Integrative Medicine (ABOIM).
About the University of Arizona:
Under President Robert (Bobby) Robbins, the UofA is leading the west in initiatives to enhance on- campus innovation, invention, research and commercialization. Established in 1885, the University of Arizona, the state's land-grant university with two medical schools, produces graduates who are real-world ready through its 100% Engagement Initiative. Recognized as a global leader in research, the university brings more than $684 million in research investment each year, and ranks in the top 25 research institutions among all public universities. The UofA is advancing the frontiers of interdisciplinary scholarship and entrepreneurial partnerships and is a member of the Association of American Universities, the 62 leading public and private research universities.
SOURCE UAVenture Capital Fund, LLC