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Sarasota-Manatee
Business Observer Monday, Apr. 22, 2019 1 month ago

Area medical company raises $5.75 million in funding round

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Sarasota-based Omeza's technology is initially aimed at healing and preventing chronic leg and foot ulcers.

SARASOTA — Medical technology and consumer health care company Omeza LLC recently closed on a funding round of $5.75 million, exceeding its $5 million goal by $750,000. 

The Sarasota firm, with technology initially aimed at healing and preventing chronic leg and foot ulcers, also added several prominent executives to its board, according to a press release. The list includes former Procter & Gamble Chairman and CEO A.G. Lafley, who is also CEO of The Bay Park Conservancy, the umbrella organization overseeing redevelopment of 53 acres along the Sarasota Bayfront. 

All the board members/investors expressed interest in being active board members as part of their investment, the release adds. 

The funding, meanwhile, will support the company's marketing of wound care treatments. Omeza will focus on evidence generation this quarter along with building out its marketing, sales and logistics capacity. “With intellectual property, regulatory approvals, scalable manufacturing capacity and management systems in place, the funds will be used for working capital to grow revenue," says founder Tom Gardner in the statement. 

The Omeza board chairman is Dr. Joel Morganroth, former CEO of eResearch Technology Inc. Additional board members, according to the release, are Ronald Gelbman, member of the executive committee of Johnson & Johnson and chairman of pharmaceuticals and diagnostics for Johnson & Johnson; Robert Essner, former chairman and CEO of Wyeth; and Gardner, Omeza CEO and founder and veteran of Procter & Gamble, Johnson & Johnson and other medical technology early stage companies.

Morganroth, along with his wife, Gail Morrison Morganroth, recently donated $15 million to Ringling College of Art & Design in Sarasota, the largest single-gift ever to the school. All the Omeza board members live, part-time at least, in the Sarasota area. 

The board agreed to keep the latest financing round open for up to six more months, accepting an additional $1.25 million for a total of $7 million. Omeza’s mission is to heal chronic wounds and prevent their recurrence. The company's products are available on Amazon and at independent pharmacies. 

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