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SOURCE: Fagan Business Communications
Organization cites Boulder company for growth, success in implantable, magnetic hearing device market
Boulder, Colo. (PRWEB) November 27, 2012
The Colorado BioScience Association (CBSA) has named Sophono, Inc., a finalist for the 2012 "Rising Star of the Year” company award.
"The Colorado BioScience Rising Star award recognizes an emerging company that has announced a major achievement during the year," explains April Giles, CBSA president and CEO. "We're so very proud of our younger bioscience companies in the state,” she says. “It's particularly important to showcase those companies experiencing an outstanding year."
Sophono is a medical device manufacturer specializing in implantable, bone conduction hearing devices. The company’s products are designed for individuals suffering from severe to profound hearing loss or impairment. The FDA-cleared Sophono Alpha is the only abutment-free, implantable, bone-anchored hearing device on the market, treating those with conductive hearing loss, mixed hearing loss, and single-ear deafness. The Alpha, which Sophono markets in more than 30 countries, has already helped more than 1,000 patients, according to Jim Kasic, president and CEO of Sophono.
During 2012, Sophono closed on $7 million in growth capital financing. Wexford Capital LP, an SEC-registered investment advisor based in Greenwich, Conn., led the Series B round of financing. To support its rapid-growth pace, Sophono also moved its Boulder, Colo., headquarters and manufacturing to larger facilities in the city. The move nearly tripled the company’s space.
“Sophono is proud of the fact that the Colorado BioScience Association is recognizing the company’s accomplishments during 2012,” says Kasic. “Being named a finalist confirms that the industry is recognizing Sophono for the successful and innovative treatment it is bringing to those suffering from serious hearing loss or impairment.”
The CBSA will announce the Rising Start of the Year winner at its annual awards dinner celebration Thursday, Dec. 6, at the Hyatt Convention Center in Denver. The dinner, emceed by Steffan Tubbs, morning co-host on 850 KOA News Radio, also will feature Timothy Schultz, president and executive director of the Boettcher Foundation, and keynote speaker George Sparks, president and CEO of the Denver Museum of Nature and Science.
Colorado BioScience Association (http://www.cobioscience.com)
The Colorado BioScience Association (CBSA) is a not-for-profit organization providing services and support for Colorado's bioscience industry. With more than 350 members, CBSA actively works to promote the growth of the industry by advocating for a better business environment, growing the state's biotech workforce, fighting for policies that support a strong bioscience industry in the state, and speaking with a single voice on behalf of the industry.
Sophono, Inc., is a medical device manufacturer specializing in implantable, bone conduction hearing devices. The company’s products are designed for individuals suffering from severe to profound hearing loss or impairment. The Sophono Alpha is the only abutment-free, implantable, bone-anchored hearing device. Treating those with conductive hearing loss, mixed hearing loss, and single-ear deafness, the FDA-cleared product Alpha eliminates the problematic abutment of devices by using magnets to affix external sound processors.
Sophono corporate headquarters and manufacturing operations reside in Boulder, Colo. The company maintains an office in Germany, and sells through distributors in more than 30 countries.
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