Innova funds two more biotech start-ups, eyeing technology firm
A year and a half after MemphisED breathed financial life into Innova, the technology incubator has invested in five companies and has just opened six wet labs for research entrepreneurs.
In January, Innova completed its latest investment with Cagenix. The Memphis-based company makes the frameworks needed to make dental implants.
Innova president Ken Woody says he looked at the company for more than a year before making the investment. Woody declined to disclose the amount, but says Cagenix’s product is based on innovative but solid science and is one that will play well in the $1 billion dental implant market.
