Announces ETF Investments in Five Houston Area Companies
AUSTIN Gov. Rick Perry today emphasized the importance of making strategic investments through the Texas Emerging Technology Fund (ETF) to strengthen the states economic environment while cultivating world renowned research and innovation. The governor spoke at the Houston Technology Centers Texas Technology Leadership day where he also announced ETF investments to five Houston area companies.
Too often great ideas are shelved with no clear path to the marketplace when grants ran out or new projects are started when they could improve peoples lives. The Emerging Technology Fund is our solution to that problem" Gov. Perry said. The ETF is super-charging the research environment in our state harnessing our peoples amazing ideas and encouraging even greater efforts to inquire innovate and invest."
The ETF award announcements are as follows:
Castle Biosciences is receiving a $250000 investment for the development of its biomarker based cancer detection system. The technology focuses on identifying aggressive underserved or orphan" cancers that have a relatively low occurrence rate and whose course of treatment depends on swift and accurate identification.
Noninvasix is receiving a $250000 grant for development of a device that relies on sound waves to measure hemoglobin and other blood components without requiring a blood withdrawal from a patient. Current hemoglobin measurement procedures are painful invasive and often severely lower hemoglobin levels requiring the patient to receive a blood transfusion. This device is a painless and more accurate means of measuring hemoglobin levels particularly in neonatal intensive care units where heel sticks are currently the only procedure for hemoglobin measurement in infants.
PULMOTECT is receiving a $250000 investment for the development of products that boost the innate immune system to protect against a wide range of airborne diseases. The technology stimulates the bodys natural defenses to provide safe fast-acting protection against diseases such as pneumonia influenza anthrax and staph and can potentially be used to help prevent infection in immune-compromised cancer patients military personnel first responders and the general population.
SEMMT Inc. is receiving a $250000 investment for the development of tools and techniques that revolutionize current surgical methods of implanting left ventricular assist devices (LVAD) in the heart. The technology allows surgeons to implant LVADs on a beating heart rather than putting the patient on bypass making the procedure safer and reducing the risk of bypass-related deaths.
SeprOx Corp. is receiving a $250000 investment for the development and commercialization of its medical oxygen generator that separates pure oxygen from air. The device is lighter and less expensive than existing home oxygen generators.
The ETF is a $200 million initiative created by the Texas Legislature in 2005 at the governors request and was reauthorized in 2007 and again this session with $203.5 million for the 2010-2011 biennium. A 17-member advisory committee of high-tech leaders entrepreneurs and research experts reviews potential projects and recommends funding allocations to the governor lieutenant governor and speaker of the House. To date the ETF has allocated more than $89 million in funds to 75 early stage companies.
For more information on the ETF please visit
www.emergingtechfund.com.
