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:6/24/2016)... 24, 2016   Pulmatrix, Inc ., (NASDAQ: ... inhaled drugs, announced today that it was added to ... its comprehensive set of U.S. and global equity ... an important milestone for Pulmatrix," said Chief Executive Officer ... of our progress in developing drugs for crucial unmet ...
(Date:6/23/2016)... Any dentist who has made an implant supported ... Many of them do not even offer this as a ... laboratory costs involved. And those who ARE able to offer ... high cost that the majority of today,s patients would not ... Zadeh , founder of Dental Evolutions Inc. and inventor of ...
(Date:6/23/2016)... June 23, 2016 Capricor ... ), a biotechnology company focused on the discovery, ... that patient enrollment in its ongoing randomized HOPE-Duchenne ... exceeded 50% of its 24-patient target. Capricor expects ... third quarter of 2016, and to report top ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... June 25, 2016 , ... Experts from the American Institutes ... Research Meeting June 26-28, 2016, at the Hynes Convention Center in Boston. , ... advance care planning, healthcare costs and patient and family engagement. , AIR researchers ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, Dr. Omkar Marathe ... from the David Geffen School of Medicine at UCLA. He trained in Internal Medicine ... his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had the ...
(Date:6/24/2016)... ... ... Those who have experienced traumatic events may suffer from a complex set ... drug or alcohol abuse, as a coping mechanism. To avoid this pain and suffering, ... traumatic event. , Trauma sufferers tend to feel a range of emotions, from depression, ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... for accelerated orthodontic treatment. Dr. Cheng has extensive experience with all areas of ... AcceleDent, and accelerated osteogenic orthodontics. , Micro-osteoperforation is a revolutionary adjunct to ...
(Date:6/24/2016)... ... 24, 2016 , ... The Haute Beauty Network, affiliated with ... as a prominent plastic surgeon and the network’s newest partner. , Dr. ... handsome men, look naturally attractive. Plastic surgery should be invisible.” He stands by ...
Breaking Medicine News(10 mins):