Mednoxa, a manufacturer of oxygenation-based wound and ulcer dressing spun out from Purdue University, has secured $30,000 in seed funding from Health Wildcatters.
Mednoxa, a US-based developer of oxygenation-based wound healing gauzes spun out from Purdue University, has obtained $30,000 in seed funding from accelerator fund Health Wildcatters.
The spinout is working on a flexible wound dressing that controls the delivery of oxygen to stimulate and promote the growth of fresh tissues.
The approach alleviates blisters, surgical incisions or burns, and could be particularly useful in reducing the impact of chronic wounds and foot ulcers for diabetes sufferers.
Mednoxa founder Eric Frey started work on the spinout at University of Texas at Austin’s McCombs Business School of Science in Technology Commercialisation program.
Frey then licenced the oxygenation rights in June 2016 from the Office of Technology Commercialization, Purdue’s tech transfer office.
Mednoxa aims to deliver the oxygen-based bandage to the US prescription remedy market within a year and expects to reach over-the-counter customers shortly afterwards.
The company had previously received $20,000 from the Elevate Purdue Foundry Fund, an accelerator started by Purdue Foundry and VC fund Elevate Ventures in 2013.
Frey said: “We expect to come out of Health Wildcatters in December with the funding [and] resources we need to reach [our] next commercialisation milestones.”
