Sanuthera, Inc. will begin manufacturing medical devices to offer relief to the more than 13 million patients seeking medical attention for tinnitus, or chronic ear ringing, made possible by $337,000 venture capital investment by TechGROWTH Ohio.
Based in Athens, OH, this startup company developed a comprehensive device offering therapeutic relief from tinnitus, a serious condition that can result anxiety, irritability and depression. Sanuthera’s unique product is the first device to offer patient-customizable sound therapy integrated with fully functional hearing aids, allowing it to treat both tinnitus and hearing loss. The synthesized design of sound generator and hearing device improves upon the quality and convenience of available tinnitus treatment, which currently only offers these components separately. This combination results in relief at a greatly reduced cost for individuals suffering from tinnitus.
“TechGROWTH offers unparalleled support,” acknowledged inventor and co-founder, Dr. Jeff DiGiovanni, “which has facilitated me to able to work on our core mission.” TechGROWTH’s investment will fund product development, manufacturing, and the FDA process. As a pre-seed investment client, Sanuthera has received premium TechGROWTH support, including Executive-in-Residence services, accounting and legal support.
In addition to tinnitus affecting over 50 million individuals in the U.S., tinnitus and related hearing loss are the most prevalent disabilities in the Veterans Affairs (VA) system, costing the VA $950 million in 2009 alone. Sanuthera’s innovative device operates on wireless technology and is simple and convenient to use, designed to better serve the geriatric population. “Sanuthera will be the only medical device on the market to use a convenient and fully-customizable device to treat both tinnitus and hearing loss,” said Jeffery Wiseman, an Executive-in-Residence at the Edison Biotechnology Institute, “which makes it an interesting investment opportunity.”
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