AURORA, Colo., Sept. 27 /PRNewswire/ -- The Colorado Institute for Drug, Device and Diagnostic Development (CID4) has completed the selection process from its first solicitation announced in February. The announcement is made by Richard C. Duke, Ph.D., CID4 President/CEO, who says, "Boulder-based Sophono, Inc., is receiving $600,000 for its Alpha 1 Magnetic Bone Anchored Hearing System; and Aurora-based PeptiVir, Inc., is receiving $300,000 for its universal flu vaccine under development."
In addition to initial financial support from the state, CID4 also received federal support from Fitzsimons Redevelopment Authority via a Senate appropriation supported by Colorado Senator Michael Bennet. Senator Bennet says, "We can strengthen our economic recovery and ensure Colorado remains a leader in innovation and entrepreneurship by supporting efforts that turn groundbreaking research into startups and companies that will grow and create good-paying jobs."
Further, Colorado Governor Bill Ritter, says: "Supporting Colorado's life sciences companies is critical to growing jobs and our economy in Colorado, and I congratulate both the CID4 for success in its first solicitation and those companies chosen to receive funding."
"Sophono's Alpha 1 has received its CE mark and is being sold in Europe. Our investment will allow Sophono to accelerate its FDA clearance process," Kevin M. Smith, CID4 Executive Vice President/COO, explains. In addition, according to Sophono's President/CEO Jim Kasic, the company plans to relocate manufacturing and assembling operations from Germany to Boulder, resulting in the hiring of 6-10 employees. Visit http://www.sophono.com.
PeptiVir, Inc., is an early stage biopharmaceutical company focused on the development and commercialization of a conformationally-constrained, synthetic peptide-based vaccine platform for prevention of viral diseases. "There is an urgent need to develop new and different influenza vaccines," Kathryn Holmes, Professor of Microbiology, University of Colorado School of Medicine and a PeptiVir founder, says.
CID4 is transforming life science innovation into commercial success by identifying and funding potential opportunities, and utilizing the talents of an advanced leadership team to ensure ultimate market value. Visit http://www.cid4.com.
|SOURCE The Colorado Institute for Drug, Device and Diagnostic Development|
Copyright©2010 PR Newswire.
All rights reserved