PHILADELPHIA--(May 12, 2010) – Technologies to advance heart disease treatment and gene therapy received awards from the University City Science Center’s QED Proof-of-Concept Program in May. Three researchers from The Children’s Hospital of Philadelphia, Penn Medicine and Rutgers University will each receive $100,000 from the Science Center, a $100,000 match from their supporting institution, and business advice for one year.
This is the second round of awards by the QED Program, the first multi-institutional proof-of-concept program for life science technologies in the U.S. Awards are made to bridge the “valley of death” -- the gap between research grants and commercial seed investment, by awarding grants to life science technologies with high potential in the healthcare industry.
Robert J. Levy, MD, Professor of Pediatrics & Pharmacology at The Children’s Hospital of Philadelphia developed a technology that is expected to significantly reduce the 100,000 surgeries performed each year in the U.S. to replace blocked stents. Peripheral Arterial Disease (PAD) is a common disease caused by blockage of blood vessels in the arms or legs. It is currently treated by the insertion of a metal stent that re-opens the blocked vessel. However, most stents typically become re-blocked over time. The proposed technology, Vascular Magnetic Intervention, uses magnetically-charged nanoparticles to deliver circulation-preserving drugs to implanted stents. Dr. Levy’s proposal was supported by Business Advisor Richard Woodward.
To read the full, original article click on this link: Science Center’s QED Program Makes Second Round of Awards To Life Sciences Researchers | www.luminogenics.com
Author: Jeanne Mell
University City Science Center
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