Columbia, SC – August 21, 2019 – Medical materials start-up Obsidio, Inc. announced today that it has completed a seed financing round led by venture capital firm Good Growth Capital’s Infinite Corridor Fund, which primarily funds transformative science start-ups with an MIT affiliation.
Obsidio is developing a shear-thinning biomaterial that has significant advantages over existing products for transcatheter intravascular embolization, a minimally invasive procedure used to control bleeding, close off vessels supplying blood to a tumor, eliminate abnormal connections between arteries and veins, and treat aneurysms. Obsidio’s universal embolization material permanently occludes blood vessels, blocking them with a very high degree of efficacy. Over time Obsidio’s material is replaced by natural tissue, leaving no pro-inflammatory foreign material behind.
Obsidio’s shear-thinning biomaterial technology was invented by two of its Co-Founders, Rahmi Oklu, MD, Ph.D., FSIR, Professor, Consultant and Chair of Vascular & Interventional Radiology at Mayo Clinic, and Ali Khamdehosseini, PhD, Levi Knight Endowed Professor at the University of California, Los Angeles who were brought together by Professor Robert Langer of MIT. Proof-of-concept and pre-clinical evidence shows that Obsidio’s shear-thinning biomaterial is injectable through catheters in a minimally invasive way, possesses hemostatic activity, withstands physiological pressures of vessels, and forms safe and robust occlusions. Dr. Oklu, who is also Obsidio’s Chief Medical Officer, comments that “the biomaterial was designed and optimized with the physician user in mind. It had to be easy to use, simple to inject and achieve efficacy far greater than the tools used today. I believe we have achieved all of these goals. This material will change the way we perform therapeutic embolization today.”
“We see enormous potential for Obsidio’s one-size-fits-all technology in multiple market segments including peripheral, neurovascular, and tumor embolization applications,” said Ehsan Jabbarzadeh, Ph.D., MBA, Co-Founder and CEO of Obsidio. “This technology will overcome many shortcomings associated with the standard of care, including the high rebleeding rate, non-target embolization, unpredictable economics, and most importantly, dependence on patients’ ability to coagulate.”
Amy Salzhauer, Ph.D., MBA, a Managing Partner of Good Growth Capital, comments, “Obsidio has a platform technology with the potential to make a significant impact on the lives of patients. We are so impressed with Obsidio and are very excited to help the Obsidio co-founders bring their vision out of the laboratory and into the clinic.”
Obsidio’s shear-thinning biomaterial is injectable via a wide range of catheters, is compatible with all imaging techniques, and will be available off-the-shelf. It also eliminates the need for inventory costs associated with embolic devices of varied sizes and accessories. Founded in December 2018, the company’s vision is to disrupt the “Iron Triangle” of embolization – Quality, Access, and Cost – so that all three are optimized.
About Obsidio Inc.
Obsidio Inc. is a Columbia, SC-based medical device company dedicated to the research, development, and commercialization of breakthrough embolotherapy products.
For more information, visit: http://obsidiomed.com
About Good Growth Capital
Good Growth Capital (GGC) is an early stage venture capital firm with offices in Charleston, SC and Boston, MA that finds and funds transformative technology-based start-ups. Good Growth Capital is the most active venture fund in the state of South Carolina. GGC also invests a fund focused primarily on pre-seed and seed stage companies with an MIT affiliation, GGC’s Infinite Corridor Fund. GGC is a majority women-owned and managed.
For more information, visit: www.goodgrowthvc.com