Spotlight Innovation Inc., a publicly traded West Des Moines-based company that focuses on purchasing medical technology startup companies to develop the “neglected 90 percent” of university intellectual property, recently announced that its product EPISORB has reached two regulatory milestones. The product, developed by its subsidiary Celtic Biotech Iowa Inc., has been registered with the U.S. Food and Drug Administration and has been incorporated into the Pharmacy Benefit Managers database referenced by health insurance companies when reimbursing drugs. Made for transdermal use, the product is designed to be a viable alternative to topical bases used by the compounding industry when preparing pain-relieving or scar reduction skin creams. Founded by Cris Grunewald, Spotlight Innovation focuses on identifying, validating and acquiring or cooperating with early stage companies developing healthcare technologies, including pharmaceuticals, devices and equipment, diagnostic products and healthcare IT.