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Texas invests record $3.5 million in startup cofounded by UT's Mauro Ferrari
Date:11/20/2008

NanoMedical Systems Inc., (NMS), an Austin-based startup cofounded by Mauro Ferrari, Ph.D., of The University of Texas Health Science Center at Houston (UTHSC-Houston), to improve the effectiveness of anti-cancer agents and other medications, has received a record $3.5 million Commercialization Award through the Texas Emerging Technology Fund (ETF).

NMS was one of six companies that received the ETF awards, which were announced by Texas Gov. Rick Perry on Tuesday, Nov. 18.

The grant will help accelerate the completion of engineering and pre-clinical testing for a device, which will allow for a controlled dose of medicine to be released into the bloodstream over many weeks or months. The device will be a safer, more reliable and less costly alternative to a long series of injections or clinical visits.

"From the information I have, this is the largest commercialization award (to private companies in collaboration with a university for product development) awarded from the emerging technology fund to date. They've gone to $3 million twice and $2 million five times out of 48 commercialization awards," said Wayne R. Roberts, associate vice president for public policy at the UT Health Science Center at Houston.

The goal of the ETF Commercialization Awards is to grow new small businesses and existing businesses to accelerate new products and services to the marketplace. The ETF also offers Research Superiority Acquisition Awards, which are designed to bring the best and brightest researchers in the world to Texas. Ferrari was a recipient of a $2.5 million Research Superiority Award in August of 2006.

"The NMS partnership with UTHSC-Houston is breaking down the barriers to successful commercialization of nano-bio technology by leading the way in the nanofabrication of components suitable for use in pre-clinical and clinical studies, a key goal of the Governor's office," said Peter Davies, M.D., Ph.D., executive vice presi
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Contact: Robert Cahill
Robert.Cahill@uth.tmc.edu
713-500-3042
University of Texas Health Science Center at Houston
Source:Eurekalert

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