News

Richmond medical technology company raises $1M

Richmond medical technology company Tympanogen Inc. has raised $1 million in fresh funding, according to a Securities and Exchange Commission filing.

Tympanogen raised the money from 12 investors and said it is seeking to raise up to $2.5 million through debt and other options, according to the March filing. The round includes participation from Williamsburg’s ShockVentures and Virginia Venture Partners, according to PitchBook.

The Richmond company also received funding in March from the NOLA Angel Network of New Orleans, according to NOLA.com. Tympanogen was founded in 2014 by Elaine Horn-Ranney and Parastoo Khoshakhlagh when they were pursuing their doctorates from Tulane University, which is located in New Orleans. The company set up shop in Virginia when Horn-Ranney and her husband moved to the state.

We’ve reached out to Horn-Ranney, who is the CEO, for comment and will update this story when we hear back. Companies generally do not comment on ongoing funding raises because of SEC regulations.

Tympanogen develops treatments to improve ear, nose and throat procedures, including a gel-patch system for eardrum repair called Perf-Fix.

Its lab space is located at Richmond’s VA Bio+Tech Park and the company counts seven employees on its website.

Tympanogen has racked up some previous grant funding, including $737,369 in November from Virginia Catalyst, a state life sciences organization funded by the general budget and state research universities. It also received $75,000 from the Commonwealth Research Commercialization Fund in 2020 and an undisclosed investment from the state’s Center for Innovative Technology in 2019. Crunchbase pegs the company’s lifetime funding at $2.3 million.

Recent News

02/01/2023

Engineered BioPharmaceuticals to Expand in Virginia

Governor Glenn Youngkin announced that Engineered BioPharmaceuticals, Inc., a pharmaceutical engineering and manufacturing company dedicated to advancing cost effective, state-of-the-art medicine, will invest $6.1 million to expand in the City of Danville. The company will expand from its current lab space in the Dan River Business Development Center into its first standalone manufacturing facility at

02/01/2023

Adial Pharmaceuticals Enters Into Option Agreement for Sale of Purnovate Assets to Adenomed

Adial Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, announced it has entered into an option agreement for the sale of the assets of Purnovate, Inc. (“Purnovate”), a wholly owned subsidiary of Adial, to Adenomed, LLC (“Adenomed”), a new company formed by Purnovate

01/31/2023

AMPEL BioSolutions’ Breakthrough Predicts Drug Options for Fibromyalgia

AMPEL BioSolutions announced a breakthrough in precision and personalized medicine that could revolutionize the way doctors treat chronic pain syndromes, such as fibromyalgia. Revealed in the peer-reviewed journal Lupus Science and Medicine, the paper details AMPEL’s breakthrough approach to characterize the underlying disease activity from gene expression data obtained from patient blood samples. The FibroGENE® lab