VenoStent Awarded LaunchTN Funds
We are excited to (belatedly) announce that as of September 27, we have been awarded $112K in non-dilutive Grant Matching funds for our Phase I STTR project awarded by the National Science Foundation.
A mouthful, that may be, what it means in practice is that the state of Tennessee, due to our efforts to develop the Tennessee economy via our entrepreneurial endeavors, have awarded us money to assist in that goal.
This is huge for a company at our stage of development as it will provide critical funding towards our first large-animal (swine) preclinical trials. This will de-risk subsequent investments that we receive and help with our long term development plans.
We are extremely grateful to the state of Tennessee in their vote of confidence for us and we are especially grateful to the folks at LaunchTN!