Raleigh, NC – May 21, 2024 – The Angel Capital Association (the world’s largest professional development organization for angel investors representing over 15,000 investors) recently announced that Deep Blue Medical Advances, Inc. (Deep Blue), a portfolio company of Harbright Ventures and the Wolfpack Investor Network (WIN), is the 2024 winner of the prestigious Luis Villalobos Award in the Life Sciences category. Deep Blue was chosen from a competitive pool of candidates for its excellence in innovation and impact in the Life Sciences category.
Founded in 2015, and based out of Durham, NC, and San Francisco, CA, Deep Blue has
developed a revolutionary suite of soft tissue surgery products that provide anchored stability for numerous soft tissue repair applications like hernia repair, without the tradeoff of tissue tearing or mesh folding or unwanted movement. This innovation, leveraging intellectual property licensed from NC State University, has the potential to reduce procedure time, surgeon fatigue, patient pain, and the likelihood of surgical remediation.
Deep Blue has rapidly advanced solutions for soft tissue surgery, developing innovative surgical devices like the T-Line® Hernia Mesh product line, T-Line® TCS (Tissue Control Suture) line, and T-Line® Breast Scaffold for breast and aesthetic surgery. The company has been granted four clearances by the FDA including for its hernia meshes, which optimize tissue tension, reinforcement, and defect closure. Deep Blue’s mission to transform soft tissue surgery and hernia repair patient outcomes has garnered significant attention and support from both the medical industry and investor communities.
“We are honored to be recognized for this distinguished award, solidifying Deep Blue Medical as a leader in soft tissue repair,” said Bill Perry, CEO and Founder of Deep Blue Medical. “There are 4–5 million abdominal incisions (laparotomies) performed annually in the United States with hernias resulting after approximately 25% of these procedures. Long-term ventral hernia repair failure rates are up to 32% with conventional mesh and 63% with suture repair only, creating a multibillion-dollar clinical cost to the US healthcare system. We are committed to creating better surgical solutions for improved patient outcomes and appreciate investors like WIN and Harbright Ventures that support our vision.”
Robert Earl Ross of Harbright Ventures, Venture Partner to WIN, stated, “Bill and the team at Deep Blue are a fantastic example of top-notch innovation and collaboration from NC State and Duke University. Deep Blue is making a real difference in reducing the risks and repeat surgeries associated with hernia and other soft tissue repair. The company has developed transformative technology that will enable surgeons to provide improved options for patient care. We are pleased that WIN and Harbright Ventures have supported Deep Blue’s innovation and growth through multiple equity investments.”
For more information about Deep Blue and its award-winning products, please visit www.deepbluemedical.com.
About the Wolfpack Investor Network
Founded in 2017, the Wolfpack Investor Network (WIN)
is an angel investor platform that unites investors and innovators, partnering with Harbright Ventures to deliver impactful investments and results. As the only angel investment group directly affiliated with NC State, WIN’s members are accredited investors who actively provide financial support and strategic guidance to WIN’s portfolio companies, which have strong university ties in the form of alumni in leadership roles and/or licensure of intellectual property developed at NC State. WIN has invested over $25 million in 36 portfolio companies since its inception.
More information about WIN can be found at https://research.ncsu.edu/win.
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