SALT LAKE CITY, UT – Feb. 6, 2015 – Campus Founders Fund (CFF), a venture capital fund run autonomously by university students across Utah, announced this week closing a deal with 6S Medical LLC, a lean startup geared towards the medical device space. The deal marks CFF’s second investment in its first year of existence, and is a huge step forward on 6S Medical’s path to fill unmet needs in the global laparoscopic device market.
“The resources and experienced mentors that the CFF has provided have already significantly helped our team with the development of our product, troClosure™,” says 6S Medical founder and CTO Spencer Madsen. “CFF’s investment will go directly to product development to optimize our suture delivery system and to perform validation testing in cadaver studies, which we will use in our FDA application.”
“The University of Utah has a strong history of innovation in the medical device space, especially with competitions such as Bench2Bedside and programs such as bioDesign and bioInnovate in the bioengineering department,” says Mark Khoury, a member of the CFF investment team. “Campus Founders Fund is thrilled to support the startups that result from this innovation, and we’re excited to see 6S Medical revolutionize minimally invasive surgery.”
6S Medical LLC anticipates completion of validation studies and submission of its FDA application by the end of this year. The company’s managing team expects that troClosure will be on the market and decreasing surgical complications by the end of 2016.
About Campus Founders Fund
Campus Founders Fund (CFF) is a student-run VC fund focused on introducing college entrepreneurs to Utah’s startup and venture community. CFF offers funding up to $20,000 per startup in the form of a convertible note, introduces students to mentors such as top Utah CEOs, and provides peer-to-peer pitch feedback. For more information, please visit www.CampusFounders.com
About 6S Medical LLC & troClosure™
6S Medical LLC is lean start-up, focused on creating innovative and successful medical devices that improve patient outcomes and decrease healthcare costs. troClosure™, 6S Medical LLC’s first product, is a surgical device used in minimally invasive surgeries. It fills the global unmet need in the billion dollar laparoscopic device market, by providing a single, cost-effective device that facilitates access into the abdomen while also providing wound closure at the end of the case. troClosure is safer, faster and more consistent when compared to the current standard of care.