Aspero Medical, a US-based endoscopy device spinout from University of Colorado, attracted an undisclosed sum yesterday from Innosphere Fund, a seed-stage program for participants in the Innosphere startup incubator.
Aspero Medical is developing a medical device for endoscopies, a procedure for treating gastrointestinal diseases using observations from a minuscule camera placed in the patient’s body.
The spinout’s design is expected to provide superior performance to conventional endoscopy products while being more time and cost-efficient.
Gastrointestinal conditions contributed to an estimated 4.6 million hospitalisations and 236,000 deaths during 2004, according to Mike Freeman, chief executive of Innosphere.
The capital will be used to support product development as Aspero Medical aims to complete necessary regulatory work and pursue a go-to-market strategy.
Aspero commercialises research led by chief executive Mark Rentschler, an associate professor of mechanical engineering at University of Colorado Boulder.
Rentschler also holds a secondary appointment in the Department of Surgery at Colorado’s Anschutz Medical Campus, as well as an affiliate position in University of Colorado Denver’s Department of Bioengineering.
Innosphere is a science and technology incubator aimed at Colorado-based startups.
Rentschler, chief executive of Aspero Medical, said: “There are many limitations to current practices for upper and lower endoscopy procedures.
“Our company has a differentiated medical product for use in endoscopy procedures which results in improved performance, saving time and money, and improved patient outcomes.”
