New Business with FSU Ties Wins Innovation Fund Award

Next Generation Biomedical (NGB), a newly started small business in Fayetteville, North Carolina, led by staff and students of Fayetteville State University (FSU), announced today that they are one of five awardees among 127 new ventures competing for Innovation Fund North Carolina (IFNC) grants. The IFNC is a pilot program recently created by Innovation Fund America and the Ewing Marion Kauffman Foundation to offer early stage seed capital to entrepreneurial ventures, in collaboration with local community colleges. The IFNC community college partners are Catawba Valley Community College and Fayetteville Technical Community College.

NGB received a $25,000 award from IFNC in support of a FSU patent-pending wound care invention developed by Carla Padilla, an employee in FSU’s Office of Sponsored Research. Padilla created this product after she experienced firsthand the difficulties in treating chronic and acute wounds with traditional wound care dressings. The product developed by Padilla — Vivex-Cel – uses readily available FDA-approved materials to accelerate healing and reduce pain and treatment costs for acute and chronic wounds.

FSU and NGB will enter into a resource sharing agreement which will allow NGB to fulfill the requirements of the award. The CEO of Next Generation Biomedical, Dr. Oscar Gualteros, an internist who is also a recent FSU MBA graduate, stated that they are very grateful for the confidence expressed by IFNC to award $25,000 seed money to NGB.

“A broad variety of hospitals and wound care treatment centers which have seen FSU’s prototypes or heard about FSU’s patent pending device are very interested in obtaining the product to help them improve their care for their patients,” Gualteros said.

Dr. Jon Young, Provost and Vice Chancellor for Academic Affairs at FSU, said FSU looks forward to collaborating with NGB. “We congratulate New Generations Biomedical for receiving this award and look forward to working with the company to develop this important invention,” Young said.

FSU is a constituent institution of The University of North Carolina and the second-oldest public institution of higher education in the state. FSU offers nearly 60 degrees at the bachelor’s, master’s, and doctoral levels. With nearly 6,000 students, Fayetteville State University is among the most diverse institutions in the nation.
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