Enterprise Investment Program
In 2012, The Enterprise Investment Program (EIP) awarded an MU startup company—EternoGen, LLC—up to $200,000 in its first round of funding. From this EIP funding, EternoGen has been able at attract an additional $300,000 from the Missouri Technology Corporation (MTC) and Centennial Investors to develop their technology and grow their business.
EternoGen is a medical biotech company that incorporates nanotechnology and protein engineering to make materials that stimulate tissue regeneration and create biological implants that last longer than the current products on the market.
As EternoGen progresses in its development timeline it continues to secure further investments such as $375,000 additional matching funds from MTC towards its 2nd round of investment. This promising technology and its immediate need in the aesthetic and reconstructive soft-tissue filler market has attracted a world-class management team and seasoned board of directors. Recently, EternoGen was selected to present its innovative nano-particle-collagen technology for regenerative medicine at the New England Venture Summit. EternoGen was among an elite 50 companies selected from around the world to present at this premier event. EternoGen’s next milestone, post closing its second investment, will be manufacturing pilot-scale batches and launching into formalized preclinical trials.
The second round of EIP funding is coming to a close, with two finalists and awards expected to total up to $900,000. The recipeients of this funding will be announced in early 2013.
“The investment provided by EIP has provided a business prowess that drives the innovation of EternoGen’s R&D. Not only did EIP funding enable our first investment of three parties, it continues to provide technical validation for further funding. I truly believe these factors make EIP funds match the definition of smart money.”
—Luis Jiminez, CEO
$600,000 awarded in first round
2 awards in FY12
For more information on the Enterprise Investment Program, click here.