Jul 7 2009
Nanovis LLC, a startup developer of nanosurfaced implants and nanostructured biomaterials, announced Tuesday (July 7) that it has begun initial testing of a bone regeneration technology with the help of the state's 21st Century Research and Technology Fund.
The company's technology, which uses nanostructured biomaterials and proprietary bone growth factors to promote real bone growth among patients with a high risk of bone fracture, was jointly discovered by Nanovis and researchers at Purdue University and Brown University.
Nanovis, which received a $2 million grant from the state in 2008, projects to create up to 42 new research and development jobs as the tissue technology is commercialized over the next three to five years.
"Indiana remains a vibrant place for entrepreneurs to develop and commercialize cutting-edge technology," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "Nanovis' research further heightens Indiana's profile in the biotechnology industry."
Nanovis' technology represents a potential breakthrough for sufferers of osteoporosis and other bone disorders. The backbone of the technology was developed by Purdue University and Brown University researchers who discovered that tissue implants that are engineered with nanoscale coatings are more likely than standard implants to incorporate themselves into existing tissue and promote new tissue growth that ultimately strengthens bones.
"The IEDC and our team of leading researchers in implant nanotechnology and tissue repair have been great partners in establishing Nanovis as a focused 'go to' company for industry leaders exploring ways to use advanced nanotechnology to improve implant performance and repair weakened or damaged tissue," said Matt Hedrick, president and chief operating officer at Nanovis Inc.
Based at the Purdue Research Park at West Lafayette, Nanovis has begun initial testing of its technology and hired several full- and part-time research associates with the help of the state grant. In addition to the company's research in tissue formation, Nanovis is developing easily manufacturable nanosurface technology for orthopedic, spinal, dental, cardiovascular and soft tissue implants like those used for hernia and bladder repair that are designed to help the implant integrate into the body faster and with less inflammation than conventional implants.
"With many wondering how nanotechnology can practically improve human health in the immediate future, with the help of the Indiana 21st Century Fund, Nanovis is leading this challenge to provide several real products which will shorten healing time and more quickly help people return to the active lifestyle they were accustomed to before tissue damage," said Tom Webster, associate professor of engineering and orthopaedics at Brown University whose technology, in part, led to the formation of Nanovis. "The state of Indiana has again proven itself a leader in promoting entrepreneurship through the continued support of the 21st Century Fund that is destined to create jobs of the future, and Nanovis is extremely honored to receive such high recognition."
Nanovis is one of 69 businesses awarded a 21st Century Research and Technology Fund grant since January 2006. During that time, the fund has invested more than $90 million in high-tech Indiana entrepreneurial companies that collectively have the potential to create thousands of new jobs.