New Orleans BioFund
1441 Canal St, New Orleans, LA, 70112, United States
Overview
New Orleans BioFund was created to help regional startup companies grow, create jobs, and contribute to the economic revitalization of New Orleans. Capital is often difficult to obtain for small businesses and startups, which are high-risk ventures. The innovative BioFund program supports small businesses that may not qualify for traditional financing options. These investments help bridge a critical funding gap, thus allowing companies to better position themselves for growth and success. The New Orleans BioFund operates in all industries, but places a special emphasis on biotechnology as a part of its mission. Furthermore, the fund is currently transitioning to a micro-venture capital model. This will provide startup investment options such as equity, convertible debt, and loan financing options.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 2
Sector focus
- Biotechnology
- Consulting
- Non Profit
Investment portfolio
- BioAesthetics
Participated · Series A · Jan 2021
BioAesthetics commercializes NACgraft, a biologically‑derived collagen scaffold shaped as a nipple–areola complex (NAC) that integrates with a patient’s body to regenerate the NAC after breast reconstruction. The product is intended for breast cancer survivors undergoing mastectomy who choose autologous breast reconstruction and want NAC reconstruction as part of their final steps. Patients will be able to select NACgraft(s) based on size and shape preferences. The company announced validation of its clinical manufacturing process and planned a collaborative clinical study at Stanford Medicine expected to begin in early 2021, following 15 patients over 12 months to evaluate healing time and secondary measures such as satisfaction, body image, and sensitivity. BioAesthetics is focused on advancing biomaterials to transform patient outcomes and is a Tulane University spin‑out now located in Research Triangle Park, NC. The company closed a Series A to fund commercialization and clinical development of NACgraft. BioAesthetics is developing an acellular tissue‑engineered graft designed to regenerate the nipple‑areolar complex (NAC) for breast cancer and mastectomy patients who currently rely on prostheses, tattoos, or surgical reconstructions. Founder and CEO Nicholas Pashos, PhD, developed the graft during his doctoral work at Tulane University, and company test grafts show early signs of integration: host cells migrate into the graft within one week and blood vessels and new skin form within three weeks. The graft appears to integrate without the need for immunocompromising antibiotics or steroids used in standard organ transplants and tissue grafts. BioAesthetics closed a financing round led by Hemi Ventures with participation from IndieBio, the New Orleans BioFund, and the New Orleans Startup Fund to accelerate product development. To support growth the company is expanding lab operations to Research Triangle Park while maintaining ties to New Orleans and San Francisco. The company is working closely with reconstructive surgeons to advance development and improve aesthetic and health outcomes for patients.