NOTA, a nitric oxide (NO) generating technology company headquartered in Ann Arbor, has announced the closing of $5 million in financing from Pegasus Tech Ventures, a global venture capital firm in Silicon Valley.
The new investment adds to the $4.2M the company has already secured from the National Institutes of Health (NIH) for its NO generating technologies. The company also is seeking other investors to complete the overall financing.
NOTA has two patented platform technologies that inexpensively generate NO on-demand. The company’s systems are compact and suitable for the hospital, clinic, and in-home, and ambulatory use.
In turn, NOTA’s NOGEN System uses an electrochemical method to generate NO for months on end, while its LANOR System uses light to produce NO from a proprietary chemically coated filmstrip that is well suited to emergency and in-home use.
“We are excited about our collaboration with Pegasus Tech Ventures that brings both investment and the potential for broader corporate partner engagement in the future,” says Malcolm Kahn, CEO of NOTA.
Bill Reichert, partner at Pegasus Tech Ventures says he sees NOTA as “an important addition to our growing portfolio in the medical market segment.”
NOTA’s other proprietary NO delivery technologies, which are single-use infection fighting disposables — including a sinus spray, a sachet that can be placed into a face mask, and two catheter products — have been spun out into a separately run startup called NOxygen Therapeutics.