Innosphere Client Company, Vaporox, Raises $1.5M in Seed Funding

Medical device company dedicated to healing diabetic foot ulcers secures financing and graduates from Innosphere incubator program

Fort Collins, Colorado


Colorado, Jan. 10, 2020 (GLOBE NEWSWIRE) -- Vaporox, a Denver-based Innosphere Client Company dedicated to healing diabetic foot ulcers (DFUs), announced this week the closing of its initial round of funding. The $1.5M investment will be used to develop the reimbursement process for providers of the technology and design the company’s second generation device.  Vaporox’s VHT technology is FDA-510K-cleared and has already demonstrated exceptional healing rates in clinical studies. The company is positioning itself for large scale rollout in the U.S starting in early 2021.

Technology developed by Vaporox is used to treat patients with chronic diabetic foot ulcers, which are present in up to 6% of the 30 million Americans with diabetes. “It is disheartening that the best current treatments only heal roughly half of these wounds, while the remainder face the scary risk of limb amputation which can lead to early death in these patients,” said Alan Sage, CEO of Vaporox. “We at Vaporox are proud to give hope to this community by closing the majority of the wounds we treat.” The VHT device has demonstrated an 80% or better healing rate in clinical studies.

During the company’s recent growth, Vaporox leveraged Innosphere’s commercialization expertise in pitch development and fundraising to pitch to a large pool of angel investors and early stage venture capital firms. The company has won two pitch competitions: Venture Bucks competition at the 2019 Angel Capital Summit sponsored by the Rockies Venture Club, and the Power Ranking Championship at Denver Startup Week sponsored by TiE Denver.

As a result of the successful funding round close, Vaporox graduates from Innosphere’s program, Colorado’s leading incubator for science and technology-based companies. “It is always exciting to watch our client companies reach their goals, and especially rewarding when the technologies they create make an impact on so many lives,” said Scott Sampl, Innosphere COO. “Vaporox is drastically changing the outcome for many diabetics suffering from skin wounds with their breakthrough technology.”

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Innosphere accelerates the success of science and technology-based startup and scaleup companies. As Colorado’s leading incubation program and commercialization expert, Innosphere’s program focuses on ensuring companies are investor-ready, connecting founders with experienced advisors and early hires, making introductions to corporate partners, exit planning, and accelerating top line revenue growth.

In addition to the program, Innosphere has real estate with office and wet labs, and a seed stage venture capital fund. Innosphere has been supporting startups for over 20 years, has locations in Fort Collins, Boulder, Denver, and Castle Rock, and is a non-profit 501(c)(3) organization with a strong mission to create jobs and grow Colorado’s entrepreneurship ecosystem. www.innosphere.org Vaporox was formed to commercialize Vaporous Hyperoxia Therapy (VHT™), a patented and FDA-510K-cleared technology that represents a breakthrough in treating 9 different types of skin wounds, including diabetic foot ulcers (DFUs). This innovative technology has been shown to generate up to three times the healing of the standard of care for DFUs. For more information, visit www.vaporox.com.

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