Device Meant to Improve Medical Procedures Funded Through New Network
Morgantown based Endolumik, Inc. has developed a new medical device meant to help with surgeries that address obesity and it’s gaining the attention, and funding, of investors.
During some of these procedures, called bariatric surgery, tubes are inserted into the stomach to remove any gas before trimming the organ. The invention - currently called the “Endolumik System” — helps surgeons to locate the tubes so they can avoid that area during the procedure.
The Country Roads Angel Network, under it's parent organization New River Gorge Regional Development Authority, awarded $175,000 for the project beginning with clinical development. The Authority serves four counties in southern West Virginia and is administered by the West Virginia Hive, a 12-county entrepreneurial support program.
Start-up businesses and entrepreneurs in West Virginia can apply for coaching and financial support from the Network.
The Network is made possible by investors from across the country, many of whom are native West Virginians looking to support business talent in their home state.
Another company in Morgantown was selected as the inaugural business for the program. Iconic Air, a software platform that locates emission leaks, secured $135,000 late last year.