UAVenture Capital Fund (UAVC), a Tucson-based venture capital fund dedicated to the commercialization of University of Arizona discoveries, products, technologies and services, today announced its thirteenth investment.
The Fund has invested in StimAire, Inc. where breakthrough technology may revolutionize the treatment for Obstructive Sleep Apnea (OSA). StimAire replaces today’s surgically implanted neural stimulation devices with a small wearable and a tiny injectable device. The technology will eliminate major surgery and associated complications, risks, and costs. The total market opportunity for StimAire’s neural stimulation is tens of billions of dollars and includes treatments for obstructive sleep apnea (OSA), bladder control, epilepsy, Parkinson’s and central and peripheral pain.
Dr. Abhay Sanan, a neurosurgeon with the Center for Neurosciences and Clinical Assistant Professor in both the Division of Neurosurgery and the Department of Radiation Oncology at the University of Arizona is the company’s Chief Medical Officer.
Professor Sairam Parthasarathy, MD, Chief of the University of Arizona Division of Pulmonology, Allergy, Critical Care and Sleep Medicine, is the Principal Investigator of the company’s human clinical studies.
Tarek Makansi PhD, President and Chief Technology Officer of StimAire, said, “As a serial entrepreneur, I’m thrilled to be part of the UAVC funding that is making a pivotal advancement in our startup economy. StimAire will now develop therapies that can decimate costs and simultaneously benefit millions. The Tucson metro area, anchored by the University of Arizona, has what we need to carry out our ambitious plans: world-class medical professionals, sleep laboratories, clinical facilities, and top engineers and scientists.”
“We are pleased that UAVenture Capital continues to engage with our faculty to help create an ecosystem of research, innovation, invention and commercialization,” said President of the University of Arizona Robert C. Robbins. “Our College of Medicine, founded in 1966, is just one of our many centers of excellence within our University. We are delighted that Dr. Parthasarathy will lead the human clinical studies for StimAire beginning in early 2020.”
“This unique medical device is one of the most important and topical inventions we have seen. Millions of sleep apnea patients are non-compliant with CPAP and are at risk every night. StimAire has developed a unique and innovative solution that will provide restful sleep and OSA prevention for countless apnea sufferers,” stated Fletcher J. McCusker, UAVenture Capital Founder and CEO.