2:15 p.m. Lessons learned from another angel investor conference in Central Oregon last fall paid off to the tune of $220,000 for a Bend firm that has developed a dispenser to administer medicine for children with asthma.
JettStream walked off with the third-annual Southern Oregon Angel Investment Conference competition after coming up just short in similar Central Oregon angel investor competition last October.
"We've been applying at a lot of different conferences," said Sarah Cota, who co-founded the company while searching for a better way treat her son Jett's asthma.
"We were a finalist in Bend," Cota said. "We learned we had to refine our message, describe what our target was and focus on staying focused."
In the interim, Cota said she pushed hard to form partnerships with medical industry people and get customer feed back.
"We needed to bring in the right advisors," she said.
The company had previously raised $200,000 and is in the process of raising another $550,000, Cota said.
"This gets us all the way to market," she said. "Takes us into trials and begins the hard tooling for feedback groups and capital for operations."
-- Greg Stiles
1:50 p.m. JettStream, of Bend, is the winner of the $220,000 top investment at the Southern Oregon Angel Investment Conference today in Jacksonville.
The firm has developed a device to administer nebulized asthma medication to sleeping patients.
Sarah Cota, developer of the JettStream JettPak, created the device for her son Jett.
"He's our guinea pig," Cota said.
She explained that she took him to the emergency room 18 times prior to introducing the prototype. "Since we began using the prototype we haven't had to take Jett to the emergency room."
The two-year-old Central Oregon company has patients signed up for clinical trials at St. Charles Medical Center in Bend. Trials have been launched overseas as well.
The $200 device has been through tests and its patents are pending. It can be used for a variety of diseases, but childhood asthma is first step.
The company reported raising $200,000 already through a convertible note and plans to raise another $550,000.
This is the third annual Southern Oregon Angel Investor conference, connecting early stage and seed businesses with angel and venture investors in southern Oregon.
— Greg Stiles