14 September 2017 - - Iowa City, Iowa-based hearing loss-focused medical device startup iotaMotion, Inc. has received a USD 1.47m grant from the National Institutes of Health (NIH) through the Small Business Innovation Research (SBIR) program, one of the largest sources of early-stage capital for technology commercialization in the United States, the company said.
iotaMotion earned this federal grant to support further research and development for IOTA-Progress, the company's next-generation implantable robotic technology. The grant is highly competitive with only 15% of applications successfully funded.
The SBIR grant allows small businesses to engage in development that has strong potential for impact and commercialisation, and to create jobs.
In 2017, the NIH will invest more than USD 925m into companies whose work aligns with the institute's mission of improving health and saving lives.
iotaMotion is currently developing a robotic-assisted cochlear implant insertion system, which will provide precise and controlled electrode advancement during hybrid cochlear implant surgeries.
Privately-held iotaMotion, spun out of the University of Iowa in 2015, is developing robotic technologies with the goal of focused, individualised, hearing loss treatment.
The company's solutions aim to standardise cochlear implant insertion, and to provide unprecedented control in the surgical and post-surgical care settings with the goal of expanding access to cochlear interventions for both surgeons and patients.