Innovation Partnership (IPart)-assisted client Avisi Technologies, maker of an ocular implant to treat glaucoma, is the recent recipient of a $1m SBIR Phase II grant from the National Science Foundation (NSF) — funds cofounder Rui Jing Jiang said will go toward bringing the startup’s research to life in preclinical work.
The startup, which is based out of the Pennovation Center in Grays Ferry, was founded in 2017 by Jiang and cofounder Brandon Kao. Its product, the VisiPlate, aims to treat open-angle glaucoma with an ocular implant that’s designed to remove excess fluid from inside the eye by releasing pressures that damage the optic nerve.
In 2019, the company was funded via non-dilutive grants and awards including a Phase I SBIR award of $225,000 from the NSF and additional funding from the University of Pennsylvania, Ben Franklin Technology Partners SEP and VentureWell E-Teams, among others. The team has been through programs like the MedTech Innovator Accelerator based in San Francisco, and the UCSF Rosenman Institute startup cohort. It’s also gotten its patent issued and trademark approved.
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