International BioMedical Devices Receives First Investment from SC Launch
CHARLESTON, S.C.--(BUSINESS WIRE)--SCRA Technology Ventures SC Launch program today announced the closing of an investment in International BioMedical Devices, LLC (IBMD). Accepted as an SC Launch client company in May, this is the first round of SC Launch funding for the company.
We expect it to reduce surgical time and improve patient outcomes.
IBMD is a Charleston-based medical device company, focused in the field of ophthalmic surgery. The company s ApertureRxTM System is a novel precision thermal capsulotomy system for use in cataract surgery.
Our ApertureRxTM System will offer the surgeon a more precise and predictable size and positioning of their capsulotomy procedure than the current manual techniques, said IBMD s CEO Steve Bryant. We expect it to reduce surgical time and improve patient outcomes.
The company plans to manufacture its patented single use tip in South Carolina.
We are delighted to announce this investment in IBMD, said SCRA CEO Bill Mahoney. Supporting innovative technology and additional manufacturing jobs for our state will continue to strengthen our Knowledge Economy. We look forward to the great contributions that IBMD will bring to South Carolina.
SCRA Technology Ventures helps innovative companies grow and develop new technologies, creating jobs and advancing the Knowledge Economy throughout South Carolina. This SCRA business sector provides support and mentoring to early stage, start-up technology companies through its flagship SC Launch. Since 2006, SCRA has deployed over $81 million in funding for entrepreneurs and infrastructure to support over 290 high-tech, early-stage enterprises. SCRA has directly invested over $19 million into the program's top 71 South Carolina start-ups, attracting over $301 million in add-on private investment. SCRA Technology Ventures also supports commercialization and growth by facilitating the transfer of intellectual property and accelerating the transition of inventions to the marketplace.
Multiple economic impact studies show SCRA's cumulative output on South Carolina's economy to be over $16.6 billion, and that the company has helped create approximately 15,000 technology-related jobs in the state, with annual wages averaging between $55,000 and $77,000.
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