Duke Innovation Advanced with SBIRs and Acquired by W. L. Gore & Associates
$6M
Non-dilutive funding awarded
Driven by a desire to protect their patients at Duke Hospital from needle-related injuries (NRI) and the resultant bleeding complications, Jeffrey Lawson, MD, PhD and Shawn Gage, PA-C, founded InnAVasc Medical, Inc. to commercialize a novel vascular graft.
To advance their innovation, InnAVasc secured a Phase I NIH SBIR award in 2016 and partnered with EGC’s accounting and compliance team to ensure strong financial management and audit readiness. As the technology progressed, InnAVasc engaged EGC’s Scientific Consulting team to navigate the more complex Phase II proposal process, including a clinical trial. This collaboration resulted in a successful Phase II award exceeding $2 million, followed by additional awards totaling $4 million in non-dilutive funding.
Sustained SBIR support was instrumental in de-risking InnAVasc’s technology, by providing funding for product development, validation, and clinical trials that positioned the company’s vascular graft as an acquisition-ready asset.
In 2022, InnAVasc was acquired by W. L. Gore & Associates, and in 2024, InnAVasc was honored with the Eva Garland Consulting Innovation Award.
Funding Sources
