ParaGen Technologies, a Columbus, OH-based parent company of four medical device companies, raised $4.1m in seed funding.
The round was led by Ikove Venture Partners.
This funding provides validation to the ParaGen model, commercializing a platform technology through multiple clinical verticals.
Led by Ross Kayuha, CEO, ParaGen leverages a platform scaffold technology that is proven to promote healing in a variety of applications. Each portfolio company (RenovoDerm, Atreon Orthopedics, Vascular Genesis and Tarian Medical) tailors this material to build a product line for its respective clinical market.
The portfolio companies are building product lines for the wound care, orthopedic, peripheral vascular, and hernia markets respectively. Each company has access to manufacturing space, regulatory and development expertise and a strong intellectual property portfolio with over 33 patent filings.
ParaGen Technologies is a joint venture between Nanofiber Solutions, which developed the core technology, and the Ikove Startup Nursery, which provided the funding and go-to-market strategy.