Ashland spin-off to commercialize nanotechnology for heart, kidney disease
An Ashland company has created a spinoff to commercialize medical devices that use nanotechnology to treat patients with heart and kidney disease.
NuVascular Technologies Inc. was spun out of BioSurfaces Inc. of Ashland, the company said. NuVascular holds an exclusive license for its nanotechnology platform, which was developed over 10 years using $6.6 million in funding from the National Institutes of Health (NIH), the company said in a statement.
Nanotechnology is a field of engineering that manipulates matter at the molecular and atomic level. NuVascular Technologies said its technology uses a “groundbreaking electrospinning process” that will help treat different aspects of arterial, heart and kidney diseases with the goal of dramatically reducing complications.
“At NuVascular Technologies, our goal is to provide a better treatment for these ailments and help patients live better and longer lives,” Co-Founder Eugene J. Anton said in a statement.
Anton, an entrepreneur in the biotechnology sector, and Matthew D. Phaneuf, a biomaterials scientist and inventor, are developing medical solutions that mimic the natural scaffold onto which tissue grows while also incorporating targeted drug delivery, the company said.
According to NuVascular, the technology is a vast improvement over the industry standard, which uses thicker woven and knitted biomaterials that never fully heal within the body and can lead to complications.
The company is pursuing FDA-approval of its technology.
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