Boyd Street Ventures announced that it has invested in BP Endo, which has developed a breakthrough solution to the air or fluid incontinence that compromises nearly four million colonoscopy procedures annually in the U.S.
A colonoscopy is an important procedure for screening for colon cancer, removing polyps, and controlling lower gastrointestinal bleeding. “If air or fluid incontinence occurs during the procedure, the exam cannot be performed efficiently,” said Dr. Robert Holbrook, a gastroenterologist and Founder and CEO of BP Endo. In a study conducted by Dr. Holbrook’s alma mater, the University of Oklahoma College of Medicine, incontinence occurred in roughly one-quarter of colonoscopies. This problem causes great inconvenience for patients, and BP Endo estimates that it costs the average gastroenterologist approximately $15,000 annually. Said Dr. Holbrook, “We’ve developed an affordable solution that allows endoscopists to complete exams and interventions more efficiently, decreasing the burden and costs on patients, staff, and payors.”
The solution BP Endo has developed is the world’s first Insufflation Retention Device, or IRD, which attaches to an endoscope. After the endoscope is inserted into the rectum, the IRD is inflated with a syringe to seal the colon from any air or fluid incontinence in about 30 seconds. Upon inflation, the colon is sealed and the endoscopist is given full freedom of movement and sight. The IRD is patented, has received FDA 510(k) clearance, and is legally prepared to begin production.
“Over 16 million colonoscopies are conducted in the U.S. every year, and roughly four million of them are compromised by air or fluid incontinence,” said James Spann, Founder and General Partner at Boyd Street Ventures. “We feel that BP Endo has developed a brilliant and unique solution to this problem, and we look forward to supporting their efforts to take this solution to market to the benefit of millions of patients and thousands of gastroenterologists.” Mr. Spann added that BP Endo will participate in the Boyd Street Venture Studio, where it will receive strategic and operational guidance to accelerate its time to market and increase its ability to scale.