The Life Sciences Discovery Fund (LSDF) announced nearly $750,000 in Proof of Concept grants to three Washington organizations to support transition of promising health-related technologies from concept to commercial product. Also announced was up to $1.4 million in matching funds to the University of Washington to foster technology commercialization, conditioned upon that institution receiving a larger federal grant. LSDF will also sponsor an experienced entrepreneur to determine the most appropriate commercialization pathway for “smart home” technology developed at Washington State University through two prior grants.
Two of the Proof of Concept grants were awarded to early-stage companies to fund prototype development or data collection needed to secure private equity investment. OtoMetrix Medical Technologies, Inc. (principal investigator Mark Kraus) will create and test a prototype device for rapid and accurate diagnosis of middle ear infections. RJS Biologics, LLC will develop and test targeted therapies for cancer.
Original Source: http://www.lsdfa.org/lsdf/press_releases/2013