The amount of the deal was not disclosed.
The company is using its seed funding to generate intellectual property, launch its first products, and prove concepts for future products.
Founded by Dr. Jonathan Thompson, general and bariatric surgeon at UC-affiliated West Chester Hospital, as the first commercial spin-out from the Thompson Center at UCRI, Standard Bariatrics has developed an FDA-cleared, reusable device to help surgeons standardize sleeve gastrectomy. It is currently being used by selected doctors at the University of Cincinnati (UC) for a market valuation.
The company is led by Russ Holscher, President and CEO.