Beckley nonprofit invests in medical device invention | Health | – Beckley Register-Herald

Cloudy with rain and snow this morning. Remaining cloudy this afternoon. High 38F. Winds NNW at 10 to 15 mph. Chance of precip 70%..
Some clouds this evening will give way to mainly clear skies overnight. Low 23F. Winds light and variable.
Updated: December 19, 2021 @ 3:23 am
Beckley, West Virginia

A medical device company whose innovation improves bariatric surgery procedures has secured a $175,000 angel investment from the nonprofit Country Roads Angel Network (CRAN) of Beckley, the state’s only accredited angel investment network.
CRAN invests in projects spanning all 55 counties of West Virginia.
Endolumik, Inc. was founded in May 2020 by Mara McFadden, chief executive officer, and Dr. Nova Szoka, inventor of the surgical device. McFadden has a track record of launching new medical devices and has worked with industry leading companies. Dr. Szoka is a bariatric surgeon who will lead clinical development of the product.
Earlier this year, this team secured a licensing agreement from West Virginia University to begin to position the product for commercial use.
Szoka’s invention — currently called the “Endolumik System” — is a fluorescent version of the spacing calibration tubes used in bariatric surgery. When used with a near-infrared compatible camera, the product allows surgeons to see where exactly in the stomach the tubes are so they can avoid that area during the procedure.
Judy Moore, managing director of CRAN, said the Endolumik investment stems from a partnership recently finalized with Intermed Labs LLC, a Morgantown-based innovation lab and startup studio affiliated with Mon Health System.
“We are convinced that other startups and businesses focusing on health innovation and enhanced patient care will follow Endolumik,” Moore said in a press release.
Endolumik, Inc. also recently won the 2021 Society of American Gastrointestinal and Endoscopic Surgeons (SAGES) Shark Tank, an innovation pitch competition that was held in Las Vegas.
CRAN operates under the umbrella of the New River Gorge Regional Development Authority (NRGRDA), which serves four counties in southern West Virginia and is administered by the West Virginia Hive, a 12-county entrepreneurial support program of the NRGRDA.
React to this story:

Sign up now to get our FREE breaking news coverage delivered right to your inbox.
First Amendment: Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.


The Top Ten Modern Business Skills For 2022

NEW YORK--(BUSINESS WIRE)--“Communication”, “critical thinking” and “data literacy” are among the skills that workers need in order to thrive in 2022, according to a...

Softbank leads $127 million funding round for Brazilian healthcare startup Alice – Reuters

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File PhotoSAO PAULO, Dec...

How many unicorn companies are in the UK? | Fool UK – Motley Fool UK

The Motley Fool's personal finance site is devoted to helping you live a richer life.Let’s conquer your financial goals together… faster!The Motley Fool's ...

- Advertisement -

The Top Ten Modern Business Skills For 2022

NEW YORK--(BUSINESS WIRE)--“Communication”, “critical thinking” and “data literacy” are among the skills that workers need in order to thrive...

Expose your thoughts


Please enter your comment!
Please enter your name here