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CoapTech, LLC, and University of Maryland, Baltimore Set Stage to Commercialize Novel Procedure for Placing Feeding Tubes

– Start-up Company Developing Safer, Less Expensive Gastrostomy Method

– CoapTech Receives Maryland Innovative Initiative Award to Further Advance the Technology

BALTIMORE, Nov. 29, 2016 /PRNewswire/ — University of Maryland (UM) Ventures and CoapTech, LLC, announced today that the University of Maryland, Baltimore (UMB) has granted CoapTech exclusive licensing rights for the commercial development of a platform technology called Coaptive Ultrasound.  CoapTech will use the technology, initially, to bring to market a medical device allowing non-surgical providers to safely perform feeding tube placement at the bedside through a novel procedure termed PUG (Percutaneous Ultrasound Gastrostomy).  PUG is a minimally invasive and more cost-effective method for the placement of permanent gastrostomy (feeding) tubes into stomachs of patients who need long-term nutritional supplementation.

CoapTech also announced that the Maryland Innovation Initiative (MII), which was established to foster technology transfer from Maryland universities and boost early-stage development of startups, has awarded the company a Phase III award for $150,000 to help position CoapTech for follow-on investments from venture capital firms and angel investors. Read more.