Navigation Links
SPOC, Inc. announces completion of $300,000 follow-on investment by Connecticut Innovations
Date:10/31/2007

HOBOKEN, N.J. Stevens Proof of Concept Inc. (SPOC) of Stamford, Conn., a Technogenesis Company incubated at Stevens Institute of Technology, and Connecticut Innovations (CI), the states quasi-public authority responsible for technology investing and innovation development, have announced that CI has completed a follow-on pre-Series A investment of $300,000 in SPOC. CI made this investment through its Eli Whitney Fund. Earlier this year, CI invested in SPOC through its Connecticut BioSeed Fund.

SPOC was formed in July 2005 at Stevens Institute of Technology, Hoboken, New Jersey, by its University Research and Enterprise Development office along with Dr. Norman Marcus, a leader in pain management, and three Stevens undergraduate students in biomedical engineering. SPOC has developed a proprietary point-of-care medical diagnostic system, consisting of a medical device and methodology that pinpoint the specific myofascial (muscle) trigger points causing pain. The patent pending device is the first use of electroneural stimulation for diagnostic purposes. SPOCs diagnostic system will benefit patients by helping to eliminate treatments that prove to be ineffective, such as surgical procedures, and by allowing physicians to locate more effectively and to treat muscles that generate pain.

Since approximately 100 million people in the United States suffer from chronic pain and approximately 80 percent of Americans suffer from some form of pain in their lifetime, the potential market for such a system is enormous.

Vikki Hazelwood, chief executive officer of SPOC, commented, We are pleased to have had such solid and active support from our investors CI and Stevens. CIs follow-on financing will ensure that we maintain our stride as we continue to develop SPOC Inc. in Stamford and position it well for our Series A investment.

Dr. Helena Wisniewski, vice president of University Research and Enterprise Development at Stevens Institute of Technology added, We appreciate CIs commitment to SPOC. The additional funding from CI provides a confirmation of SPOCs commercial value. CIs business guidance together with its funding has contributed significantly to SPOCs rapid development, and we feel that working together we can reach SPOCs true market potential.

We have been extremely encouraged by the ability of the team at SPOC to achieve its technical and business milestones, said Peter Longo, president and executive director of CI. Progress at the company has been faster and better than anticipated. Consequently, we wanted to help the company maintain its strong momentum and have supported it with this follow-on funding. Longo added, We look forward to providing further investment assistance to SPOC in early 2008, when it will be seeking a Series A round of funding.


'/>"/>

Contact: Patrick A. Berzinski
pberzins@stevens.edu
201-216-5687
Stevens Institute of Technology
Source:Eurekalert

Related medicine news :

1. PM announces a new health care order for India
2. Ramdoss Announces Introduction of RCH-II
3. Britain Announces Third Transfusion Related Mad Cow Case
4. Gates Foundation Announces $287 Million In Grants Towards AIDS Vaccine
5. Tibet Announces the Dalai Lama’s Tour of South Americ
6. NHS announces further Cost cutting Measures
7. Indian PM Announces Of Setting Up India Study Center At Tashkent
8. PowderMed Announces Needle-Less Flu Vaccine
9. Malaysia Announces Prison term On People Donating HIV-Contaminated Blood
10. Australian Government Announces Survey To Tackle Childhood Obesity
11. New Zealand Announces 10-year Plan For Betterment Of Mental Health Care
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... ... June 26, 2016 , ... On June 10-11, 2016, A Forever ... Cereal Festival and World’s Longest Breakfast Table in Battle Creek, MI, where the rehabilitation ... as home to some of the world’s leading providers of cereal and other breakfast ...
(Date:6/25/2016)... ... 25, 2016 , ... Experts from the American Institutes for ... Meeting June 26-28, 2016, at the Hynes Convention Center in Boston. , AIR ... care planning, healthcare costs and patient and family engagement. , AIR researchers will ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, Dr. Omkar ... M.D from the David Geffen School of Medicine at UCLA. He trained in Internal ... complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events ... turn to unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. ... tools for healthy coping following a traumatic event. , Trauma sufferers tend to feel ...
(Date:6/24/2016)... ... June 24, 2016 , ... Dr. Amanda Cheng, an ... Dr. Cheng has extensive experience with all areas of orthodontics, including robotic Suresmile ... orthodontics. , Micro-osteoperforation is a revolutionary adjunct to orthodontic treatment. It can ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... 23, 2016 , , , ... 7, 2016 , , , , LOCATION: , , , ... , , , EXPERT PANELISTS:  , , , Frost & Sullivan,s ... Christi Bird; Senior Industry Analyst, Divyaa Ravishankar and Unmesh Lal, Program ... global pharmaceutical industry is witnessing an exceptional era. Several new demand ...
(Date:6/23/2016)... 2016  Astellas today announced the establishment of Astellas Farma Colombia (AFC), a new affiliate with operations headquartered in ... America . ... ... ... ...
(Date:6/23/2016)... , June 23, 2016  Guerbet announced today that ... Supplier Horizon Award . One of ... was recognized for its support of Premier members through ... clinical excellence, and commitment to lower costs. ... this recognition of our outstanding customer service from Premier," ...
Breaking Medicine Technology: