Tag: Press Release

  • UT Ventures Announces First Investment in Solaris Endovascular 

    UT Ventures Announces First Investment in Solaris Endovascular 

    KNOXVILLE, Tenn. — UT Ventures, the University of Tennessee’s (UT) angel investment network and an initiative of the UT Research Foundation (UTRF), made its first investment in Solaris Endovascular, Inc., a Dallas-based medical device company developing next-generation endovascular technologies for patients with dialysis access complications and peripheral artery disease. 

    The investment reflects UT Ventures’ commitment to backing high-growth companies with UT alumni in leadership roles and supports Solaris Endovascular’s oversubscribed $5 million convertible bridge round. 

    “Solaris Endovascular was among the first companies to present to our angel network, and the response from our members was immediate,” said Maha Krishnamurthy, President and CEO of UTRF. “Solaris Endovascular is a leader in the medical device space, and the technology they are developing has real potential to change outcomes for patients. We are excited to be part of this journey.” 

    Solaris Endovascular is building a platform centered on covered stents and drug-eluting technology. Its lead product, Solaris DE, is a sirolimus-eluting covered stent designed to address restenosis and improve long-term durability in dialysis access, with potential applications across a broader range of vascular conditions.  

    The company’s DEScover Trial completed enrollment, with interim six-month data showing 95% target lesion primary patency, 100% patency in arteriovenous graft patients, and 91% patency in arteriovenous fistulae patients, with no device-related serious adverse events reported through 30 days. Solaris DE received FDA Breakthrough Device Designation in 2026. 

    “Support from UT Ventures strengthens our ability to advance Solaris DE and bring a truly differentiated solution to patients who have very few good options today,” said John Reviere, vice president of clinical and quality operations for Solaris Endovascular and a UT Knoxville alum. 

    “UT Ventures gives UT alumni a meaningful way to put their capital to work behind companies connected to the University,” said Marty Brown, a UT Ventures Founding Member, CEO of PYA, and General Partner in the venture capital firm, Market Square Ventures. “Solaris Endovascular is exactly the kind of company we had in mind: strong leadership, breakthrough technology, and a clear path to improving patient lives.” 

    About UTRF

    The University of Tennessee Research Foundation (UTRF) is a nonprofit organization that supports the commercialization of UT innovations, fosters entrepreneurship, and advances research, education, and economic development to benefit the people of Tennessee and beyond. Although legally separate from UT, UTRF works closely with faculty, staff and students across the UT System to help translate research and innovation into products and services that improve lives and benefit society.

    About Solaris Endovascular

    Founded in 2024 and headquartered in Dallas, Texas, Solaris Endovascular develops endovascular technologies for patients with dialysis access complications and peripheral artery disease. The company’s Solaris DE platform received FDA Breakthrough Device Designation in 2026.

  • UT Research Foundation Launches UT Ventures to Connect Alumni Investors with UT-Related Startups 

    UT Research Foundation Launches UT Ventures to Connect Alumni Investors with UT-Related Startups 

    KNOXVILLE, Tenn. — UT Ventures, a new initiative of the University of Tennessee Research Foundation (UTRF), connects a network of accredited alumni investors from universities across the UT System with startups founded or led by UT alumni, faculty, or students; companies built on UT-owned intellectual property; or companies working closely with one or more UT campuses. 

    The network is designed to expand the University’s innovation and entrepreneurship ecosystem by creating a flexible and impact-focused way for alumni and friends to invest in UT-related companies – complementing traditional philanthropy. 

    “UT Ventures is about UT funders for UT founders,” said Maha Krishnamurthy, Ph.D., MBA, UTRF president and CEO. “We’re building a high-impact alumni investment community that connects UT entrepreneurs with capital, mentorship, and educational resources – while giving alumni investors access to meaningful deal flow and a stronger connection to the university.” 

    UT Ventures officially launched in January 2026 and currently includes 17 founding members, among them Randy Boyd, president of the UT System. As Boyd notes, “UT Ventures is accelerating the growth of UT-related startups by connecting them with capital, seasoned expertise, and a community deeply invested in their success, while amplifying the University of Tennessee’s long-term impact. As a founding member, UT Ventures is instrumental in cultivating meaningful relationships, making strategic investments, and championing ventures that showcase the UT community’s innovation, creativity and entrepreneurial talent.”

    A Network Model Built for Flexibility and Engagement 

    Inspired by peer alumni-investor network models, UT Ventures is organized as a network rather than a traditional fund. UT Ventures membership is flexible and member friendly, with members maintaining sole discretion over their investment choices. 

    UT Ventures does not charge management fees or carry on investments; instead, members share pro rata costs for the formation of the special purpose vehicle (SPV) when they participate in a deal. The network charges an annual membership fee of $1,500 and does not receive any share of investment returns. Eligibility is open to accredited alumni and friends of any UT campus or institute, and members may reside outside of Tennessee.  

    Jim Wingett, a UT Martin alum, emphasizes community, “One of the most valuable aspects of UT Ventures is the ability to collaborate with like-minded investors who are equally committed to the success of UT-related startups. This network creates an environment where ideas, experience and opportunities can come together in a meaningful way.”

    Deal Process and Operations 

    UT Ventures is industry-agnostic and geographically flexible within the U.S., sourcing opportunities across sectors ranging from artificial intelligence and software to consumer products. The pipeline of prospective companies is actively being developed, with initial investments expected in the coming months. Target companies are U.S.-based C-corporations raising Seed through Series A funding rounds. Participating members make their own investment decisions and may conduct their own due diligence.  

    Leadership Support 

    UT Ventures is a strategic extension of the innovation mission evident across the UT System. As leader of the System’s flagship campus in Knoxville, Chancellor Donde Plowman emphasizes the network’s importance: “UT Ventures will help launch more startups using the knowledge generated by our faculty, students and alumni by matching them with experienced investors with ties to our university. This network not only strengthens opportunities for mentorship and growth but also helps early-stage companies access the capital, insight, and relationships they need to scale and succeed. It’s good for our universities and for economic development in our communities.” 

    About the University of Tennessee Research Foundation (UTRF) 

    UTRF is a nonprofit organization that promotes the commercialization of intellectual property created within the UT System. UTRF supports inventors, researchers, and entrepreneurs by facilitating technology transfer, protecting intellectual property, and fostering partnerships that drive innovation and economic growth across the state and beyond. Through its efforts, UTRF helps transform research into real-world solutions that improve lives and strengthen communities. For more information about UTRF, visit utrf.tennessee.edu. 

    Disclaimer  

    UT Ventures is not a broker-dealer or investment adviser. UT, UTRF, and UT Ventures do not provide investment advice. Investments involve risk, including possible loss of the full investment amount. 

    Media Contact:

    Rachel Kilpatrick, rkilpat2@tennessee.edu