Navigation Links
SPOC, Inc. announces completion of $300,000 follow-on investment by Connecticut Innovations

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
Stevens Institute of Technology

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:
(Date:10/13/2017)... ... October 13, 2017 , ... Global Healthcare Management’s 4th ... Park in Milford, NJ. This free event, sponsored by Global Healthcare Management’s CEO, ... The fun run is geared towards children of all ages; it is a non-competitive, ...
(Date:10/13/2017)... ... ... “The Journey: From the Mountains to the Mission Field”: the story of a missionary ... Journey: From the Mountains to the Mission Field” is the creation of published author, ... ages and currently teaches a class of ladies at her church, which she has ...
(Date:10/12/2017)... , ... October 12, 2017 , ... Planet Fitness, one ... U.S., announced today its plans to open a flagship location in Covington, LA at ... former Rooms To Go store next to Office Depot in the Holiday Square shopping ...
(Date:10/12/2017)... ... October 12, 2017 , ... Asante, a nationally recognized ... have expanded their existing home health joint venture through an agreement, effective October ... a joint venture home health company with Asante, delivering clinically integrated care, for ...
(Date:10/12/2017)... ... 2017 , ... Leading pediatric oncology experts at Children’s National Health System ... Congress of the International Society of Paediatric Oncology (SIOP) Oct. 12-15. Chaired by ... and Blood Disorders at Children’s National, and Stephen P. Hunger, M.D., Chief of ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... Labs announces the European launch of their new low volume, high ... in Cambridge, U.K on October 4th. The ... with unprecedented speed and sensitivity while using far less sample volume ... ... ...
(Date:9/28/2017)... 2017 Hill-Rom Holdings, Inc. (NYSE: HRC), will ... and webcast on Friday, November 3, 2017, beginning at ... at approximately 8:30 a.m. (CDT) / 9:30 a.m. (EDT). ... financial performance and guidance for 2018, Hill-Rom executives will ... operational performance, and long-range financial outlook through 2020. ...
(Date:9/27/2017)... -- Commended for their devotion to personalized service, SMP Pharmacy Solutions ... in the South Florida Business Journal,s 50 Fastest-Growing Companies, and ... the national specialty pharmacy has found its niche.  To that ... be honored by SFBJ as the 2017 Power Leader in ... receive his award in October, Bardisa said of the three ...
Breaking Medicine Technology: