Company: Leto Medical
Location: Fernandina Beach, FL
Scoop: Florida's Leto Medical was founded in January 2010 and is focused on allowing patients to live free of the ostomy pouch. Its platform is an electrical stimulation device that will actively control the terminal segment of the individual's colon to restore continence control to individuals who have been rendered incontinent as a result of ostomy surgery.
Research Corporation Technologies and Florida's Zassi Medical Evolutions entered into a partnership to form the company.
"The market for ostomy supplies is estimated at nearly $2 billion annually and growing at over 4 percent per annum, and we believe that this market of consumers is desperate for an elegant and more discrete alternative than having to wear bulky bags and/or belts 24 hours of the day," said Peter von Dyck, CEO of Zassi Medical Evolutions and a founding board member of Leto Medical, last year. "We are proud to have partnered with RCT on this important new application as they are a seasoned technology investment firm with a longstanding and successful record of working with and funding new promising technologies that can materially evolve the life sciences."