JOHNSON CITY (November 6, 2013) — When East Tennessee State University’s business incubator, the Innovation Laboratory, opened in October of 2002, the first tenant to move in was Yasoo Health. Now, the company is striking out on its own, with new quarters in Jonesborough better suited to provide warehouse space for the growing company.
Dr. Andreas Papas, who had retired from Eastman Chemical Co., began the business in 1998 in the garage of his home, with his wife serving as “operations manager.”
With help from a federal Small Business Innovation Research grant, venture capital from EMERGOMED and the Bank of Cyprus, and a loan from the Cystic Fibrosis Foundation, Papas developed a vitamin/mineral formulation with technology to enhance the absorption of fat-soluble vitamins in patients with cystic fibrosis or other diseases causing malabsorption.
Papas, originally from the Mediterranean island country of Cyprus, named the company Yasoo, which he says can be translated as a Greek version of “to your health.”
In recent years, Papas has retired from the business and hired a new CEO. Dr. Gus Papas, his son and vice president of medical and regulatory affairs, says, “With the help of pharmaceutical distribution partners, the company’s main product, AquaADEKs, has seen steady growth and is available in 38 countries. We needed additional warehouse capabilities and thus had to move from the Innovation Lab.”
He adds, “Our stay at the Innovation Lab has been very beneficial. It allowed us to use the physical resources of the university and collaborate with the investigators, which is very important to a small technology company. We have enjoyed a good working relationship and will miss the staff and their support.”
For further information about Yasoo, contact Gus Papas at email@example.com . To learn more about the ETSU Innovation Lab, contact the director, Dr. Audrey Depelteau, at (423) 439-8535 or Depelteau@etsu.edu .