UofM Startup SweetBio Secures $1.15 Million in Funding
June 13, 2016 - SweetBio Inc., a University of Memphis-based medical device startup, has recently secured $1.15 million in funding for its innovative invention of membrane technology. Initial applications focus on oral surgeries to help regenerate soft tissue and support bone growth as a requirement for restoration procedures. The funds were raised between December 2015 and May 2016. Major investors were Innova, MB Venture Partners, The JumpFund and ZeroTo510.
SweetBio's unique membrane uses Manuka honey, which has antibacterial and wound-healing properties designed to benefit during oral restoration surgeries. Dr. Gary L. Bowlin and his team at the UofM developed the technology in the Tissue Template Engineering and Regeneration Laboratory in the Department of Biomedical Engineering. Dr. Isaac Rodriguez, co-founder and CEO of SweetBio, was a member of the team that developed the patent-pending formulation.
Recent accomplishments for SweetBio Inc. include successful professional manufacturing runs and submitting its FDA 510(k) pre-submission. Funding raised will allow SweetBio to perform studies necessary to apply for FDA 510(k) clearance. Pending FDA clearance, SweetBio Inc. will be the first company to commercialize an implantable device utilizing honey, and has several products in the pipeline once the membrane is on the market.
The University of Memphis Research Foundation is a 501(c) corporation that supports the research and technology transfer objectives of the UofM, its faculty and students.
Contact: Mary Ann Dawson