Navigation Links
Remedium Technologies Wins Most Promising Security Idea at Global Security Challenge 2009 with Blood-Clotting Foam
Date:11/25/2009

COLLEGE PARK, Md., Nov. 25 /PRNewswire-USNewswire/ -- Remedium Technologies Inc., a company developing a shaving cream-like foam that stops severe bleeding, won first prize and $10,000 in the Most Promising Security Idea category of the Global Security Challenge 2009, company officials announce today.

Selected from more than 100 entries from around the world, Remedium's team pitched their invention at the GSC Security Summit conference held at the London School of Business.

Remedium (www.remediumtechnologies.com) is developing a high-pressure foam that can be sprayed into an injured body cavity, adhering to tissue and rapidly stopping bleeding as it expands.

"The summit was an outstanding event and an invaluable opportunity for us," says Matt Dowling, CEO of Remedium Technologies and a doctoral student in the Fischell Department of Bioengineering. "We are truly honored to have won our category and are more determined to turn our idea into a commercial reality as quickly as possible. We truly believe our sprayable hemostatic foam will have an enormous impact on global security and will save many lives in the future."

Remedium's hemostatic (blood-clotting) foam is a new product for the company, which is also developing a patent-pending, Velcro-like sponge and a spray, both of which stop hemorrhaging. Pre-clinical testing is underway for both products.

"Our new product is similar to a can of shaving cream -- you spray it into a wound, it becomes an expandable foam, fills the space, and stops the bleeding without using any pressure," says Dowling. "It doesn't require any special training to use, so it can be distributed to soldiers, paramedics, or civilians for emergency or mass-casualty situations. There are currently no products available to effectively treat non-compressible injuries."

Remedium's team includes CTO and bioengineering doctoral student Peter Thomas, who joined Dowling in London, and scientific co-founder Srinivasa Raghavan, an associate professor in the Department of Chemical and Biomolecular Engineering.

The GSC caps off a string of competitions for the company. In 2007, Remedium won second place and $8K in the faculty and graduate student division of the University of Maryland $50K Business Plan Competition. After that, company team members entered the Rice Business Plan Competition, won the University of Nebraska's New Ventures World Competition, and competed in the University of Texas at Austin's Moot Corp. Competition. Matt Dowling was selected as a 2009 Maryland Inventor of the Year by the Daily Record.

Remedium received $104K in Maryland Industrial Partnerships (MIPS) funding in August, 2008, and $50K from the Maryland Technology Development Corporation (TEDCO) University Technology Transfer Fund in March, 2009.

The company joined the Maryland Technology Enterprise Institute (Mtech) VentureAccelerator Program in May 2009, which assists ventures formed around University of Maryland inventions with a range of new business processes, including business planning; understanding markets, fundraising and recruiting.

"It's quite an accomplishment for Remedium to win this award, considering the stiff international competition," says VentureAccelerator Director Jim Chung. "This, coupled with the fact that another of our former portfolio companies, TRX Systems, won the $500K 'best security startup' award at the GSC last year, really shows how effective Mtech's programs have been in helping our companies position themselves for success."

Winners were chosen by an independent judging panel from industry, government and the investor community. Accenture sponsored the $10K grant award.

The Global Security Challenge LLP (www.globalsecuritychallenge.com) is a forum for security innovators, start-ups and investors. It provides a valuable launching pad for security innovation and each year over $500,000 is awarded in its world-leading competitions to entrepreneurs and researchers within the security technology field. The mission of the GSC is to stimulate technological innovations that make airports, cities and enterprises safer without encroaching on civil liberties.

About the VentureAccelerator Program (www.va.umd.edu)

VentureAccelerator helps university faculty and students launch successful ventures from their inventions. Our experienced team of business professionals enables you to maintain your academic responsibilities as faculty, research staff, or student, while also furthering the development of your startup. We speed the process of venture creation by systematically guiding and coaching inventors through new business processes such as: sound business planning; understanding customers and markets; setting goals and priorities; acquiring skills and recruiting talent; and raising capital.

SOURCE Maryland Technology Enterprise Institute


'/>"/>
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Emisphere Technologies, Inc. Announces 2007 Second Quarter Financial Results
2. King Pharmaceuticals and Palatin Technologies Delay Immediate Plans for Phase 3 Clinical Program With Bremelanotide for Erectile Dysfunction
3. Rockwell Medical Technologies, Inc. Begins Patient Enrollment for its SFP Dose-Ranging Study
4. Rockwell Medical Technologies, Inc. Begins Dosing Patients for SFP Phase IIb Clinical Study
5. New Clinical Studies Confirm Mauna Kea Technologies Cellvizio(R) GI in Range of Procedures
6. Palatin Technologies, Inc. Reports Initiation of Human Trials for the Treatment of Congestive Heart Failure
7. Emisphere Technologies, Inc. Announces 2007 Third Quarter Financial Results
8. Senesco Technologies Initiates Preclinical Studies for Cancer Target
9. ASEAN News: Epeius Biotechnologies Gains Commercial Approval for Rexin-G(R), a Tumor-Targeted Gene-Based Medicine for Metastatic Cancer
10. Epeius Biotechnologies Applauds the Belated Scholarship of Their Academic Contemporaries in 2007, As Targeted Gene Therapy Comes of Age in Clinical Medicine
11. TCS Healthcare Technologies Releases Three New Clinical Care Programs Within ACUITY
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/24/2016)... , May 24, 2016 ... the world , s first dual therapy ... intervention   OrbusNeich, a global company specializing ... its portfolio to include products to treat peripheral artery ... company,s first entry devices for lower limb and arteriovenous ...
(Date:5/24/2016)... -- Open Access Journal Focusing on ... Elsevier , a world-leading provider of scientific, technical ... launch of Clinical Neurophysiology Practice ... clinical practice issues in clinical neurophysiology. The journal will ... and didactic reviews. It is an official journal of ...
(Date:5/23/2016)... According to a new ... Product (Wheelchair, Scooters, Medical Beds, Bathroom Safety, Mechanical, ... Wound), Accessories (Lifting, Transfer) & by End User ... MarketsandMarkets, the patient handling equipment market is expected ... a CAGR of 10.5% during the forecast period ...
Breaking Medicine Technology:
(Date:5/26/2016)... San Diego, CA (PRWEB) , ... May 26, 2016 , ... ... operation with him running plumbing calls throughout the beach community. His vision to grow ... at affordable rates and ensuring they maintain the highest level of training and customer ...
(Date:5/26/2016)... ... May 26, 2016 , ... According to the Webster’s dictionary, a ... with chemical-laden beauty products, one company is going against the norm with a line ... The rising star in the green space is proud to announce its latest retail ...
(Date:5/26/2016)... ... May 26, 2016 , ... HealthPostures, ergonomics designer and ... , furniture that may support women during pregnancy. Potential benefits of using the Stance ... rest and comfort and healthier levels of sitting and standing. , Need for the ...
(Date:5/25/2016)... Miami, Florida (PRWEB) , ... May 26, 2016 , ... ... for the treatment of androgenetic alopecia in both men and women. To date, the ... laser caps with FDA clearance for any adult who suffers with androgenetic alopecia. ...
(Date:5/25/2016)... Chicago, IL (PRWEB) , ... May 25, 2016 ... ... HealthScape Advisors,” said Steven Young, a Managing Partner at HealthScape Advisors. “Brad brings ... value-based care within the healthcare delivery system accelerates with the implementation of MACRA, ...
Breaking Medicine News(10 mins):