DURHAM, NC – Durham-based RemedEase Inc. a life science company with patented advanced technology to stop nosebleeds has closed on its first round of $500,000. RemedEase will use the funds to support product development, begin the FDA 510K approval process and expand marketing initiatives.
Board member Grace Ueng says “It was a typical angel round under $1 million.” WRAL’s Local Tech Wire reports the amount as “$500,000.”
The company’s patented device, NOseBLEED, stops nosebleeds “quickly, easily, comfortably and very conveniently,” the company says, and does not interrupt normal breathing or activity. NOseBLEED does not require an individual to put anything in the nose.
“Nosebleeds are messy, embarrassing nuisances if they happen at home, but are even more troubling when they occur in public,” said RemedEase CEO Amy Rix.
“Many people have underlying medical conditions that can cause sudden bleeding NOseBLEEDS technology will serve the needs of a wide spectrum of patients including athletes, children seniors and those suffering side effects of diseases and drugs.”
RemedEase board member James Buck, vice president of marketing and business development at Innerpulse, adds that, “With an astounding 445 million episodes of recurring nosebleeds in the U.S. alone in 2007, there is clearly a large market opportunity for RemedEase.
“This is a fairly unmet market, and the adoption for RemedEase could mimic that of a product such as Breathe Right which has evolved into a well known brand.”
Rix, founder and inventor of the RemedEase technology has spent the past 15 years in the professional medical field as an EMT, CNA and with UNC Medical School as a Research Associate.
Rix won the 2005 Carolina Challenge Business Plan Competition and winner of the 2005 Coach’s Progress Award from the Launching the Company Program at UNC Kenan-Flagler business school.
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