startup series
This company was funded by the two
founders and raised capital in 2016
from some external investors with a
total capital investment of INR 22 crore.
The company has also raised INR 5
crore through Indian and international
grants. It has been able to manage
funding from the Biotechnology Industry
Research Assistance Council (BIRAC)
through two of its flagship schemes,
namely Biotech Ignition Grant (BIG) and
Small Business Innovative Research
Initiative (SBIRI).
limited number of systems. Clinical
performance has been positive and it is
ramping up efforts for a full launch post
CE approval which is under process.
NoXeno-the reusable device to make
your nose tension free
The company has come up with a simple
mechanical device to help physicians
remove impacted foreign bodies in the
nose. The NoXeno device is currently
awaiting clinical evaluation and
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BioVoiceNews | June 2017
manufacture production set up.
The team has also identified partners
for both manufacturing and clinical
testing of the device. While the
commercial lauch is set to happen
shortly, the affordability of the
product will depend on the volume for
production. The company aims to have
a selling price around INR 5000 with
full scale production and distribution.
As a reusable device, it is a onetime
investment for a product that will last a