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Kudos for 3 NJIT Enterprise Development Center high-tech companies
Date:4/9/2012

Three high-tech companies based at NJIT's Enterprise Development Center (EDC) took top awards at the recent 2012 Venture Conference sponsored by the New Jersey Technology Council.

Endomedix, Inc., a medical device company received the notable laurel "best life science company." The company recently received its first issued patent for technology to produce chemical solutions composed of natural biomaterials. Surgeons can spray or syringe solutions onto a surgical site, and the solutions will form hydrogel devices in situ within 15 seconds.

The first device will be a spray-on surgical hemostat to control bleeding during surgery and will be indicated for use in brain surgery. The device is expected to shorten the typical craniotomy procedure by 30 minutes. This will translate into less time for the patient's skull to be open and less anesthesia, reducing morbidity and the possibility of infection. The device is expected to save hospitals more than $3000 per case and will be easier to store and use. "Endomedix has developed a platform technology that it's spinning into a series of related medical devices, to improve surgical procedures and outcomes in existing markets without requiring surgeons to learn new techniques. It's exciting to push through milestones toward commercialization and bring savings and improvement in a $3 billion market," said President and CEO Richard Russo.

Allweb Technologies Inc., which is focused on addressing the password overload and identity fraud challenges for online web users and enterprises, received the "best information technology company" award. The flood of passwords required to log into websites is causing major issues such as forgotten passwords, account lockdown and more for web users. The use of simpler passwords is resulting in increased user ident
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Contact: Sheryl Weinstein
973-596-3436
New Jersey Institute of Technology
Source:Eurekalert

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