Cephalogics Receives Discovery Project Grant
21-Dec-2010
Boston, Massachusetts -- Cephalogics, LLC was awarded a $161,144 grant from the Qualifying Therapeutic Discovery Project program, which is provided under the new section 48D of the Internal Revenue Code enacted as part of the Patient and Affordable Care Act of 2010. This federal grant targets therapeutic discovery projects that show a reasonable potential to:
• Result in new therapies to treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions,
• Reduce the long-term growth of health care costs in the United States, or
• Significantly advance the goal of curing cancer within 30 years.
“This award confirms Cephalogics’ potential to advance U.S. innovation in meeting unmet needs in healthcare,” said Jeff Caputo, General Manager of Cephalogics.
The company is using an emerging imaging modality called high-density diffuse optical tomography (HD-DOT) to make portable neuroimaging systems with the combined ability to measure blood oxygenation with the imaging capability of MRI to produce comprehensive and real-time assessment of neurological function. In intensive care settings, the Cephalogics’ system will provide visualization of critical neurologic function, allowing, for example, localized detection of functional deficits, thereby providing diagnostic and therapeutic monitoring information otherwise unavailable with current technologies.
“We have received significant interest from multiple areas of the hospital. For example, Neuro critical care physicians have expressed strong interest in using this technology to continuously monitor stroke and traumatic brain injury patients and help guide treatment. This technology would provide valuable functional data and imaging from multiple areas of the brain which is currently not available at the bedside. Anesthesiologists have also expressed interest in using this technology to monitor collateral flow and perfusion during cardiac surgery and potentially identify neurological deficits like ischemia. We are very optimistic about the strong interest in this technology and are working to further develop the technology to meet the needs of the clinicians,” Caputo explained.
The grant was only available to taxpayers with no more than 250 employees and covers up to 50 percent of a taxpayer’s qualified investment. To provide an immediate boost to U.S. biomedical research, the credit was granted to qualified investments made in 2009 and 2010.
About Cephalogics, LLC.
Cephalogics, LLC is a privately-held startup company formed by Allied Minds, Inc. to commercialize the high-density diffuse optical tomography (HD-DOT) neuroimaging technology originally developed at Washington University in St. Louis by Dr. Joseph Culver. For more information, please visit the Cephalogics website: www.cephalogics.com.
About Allied Minds, Inc.
Allied Minds is a U.S. capital investment firm with offices in Boston and Los Angeles. With over $200M in assets, the Company creates startup businesses based on early-stage technology developed at renowned U.S. universities and national labs, and serves as a holding company that supports these businesses with capital, management and shared services. Allied Minds is the premier firm to utilize this novel and fully integrated approach to technology investing. The Company’s subsidiary investments span multiple business sectors and offer an attractive risk-return profile, a deliverable timeline and potential products that will be groundbreaking in their respective fields. These subsidiaries include BA Logix, Biotectix, Cephalogics, CryoXtract, Illumasonix, ProGDerm, Precision Biopsy, Purtein, RF Biocidics, SaltCheck, SiEnergy Systems, SoundCure and Spin Transfer Technologies. For more information, please visit www.alliedminds.com.
• Result in new therapies to treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions,
• Reduce the long-term growth of health care costs in the United States, or
• Significantly advance the goal of curing cancer within 30 years.
“This award confirms Cephalogics’ potential to advance U.S. innovation in meeting unmet needs in healthcare,” said Jeff Caputo, General Manager of Cephalogics.
The company is using an emerging imaging modality called high-density diffuse optical tomography (HD-DOT) to make portable neuroimaging systems with the combined ability to measure blood oxygenation with the imaging capability of MRI to produce comprehensive and real-time assessment of neurological function. In intensive care settings, the Cephalogics’ system will provide visualization of critical neurologic function, allowing, for example, localized detection of functional deficits, thereby providing diagnostic and therapeutic monitoring information otherwise unavailable with current technologies.
“We have received significant interest from multiple areas of the hospital. For example, Neuro critical care physicians have expressed strong interest in using this technology to continuously monitor stroke and traumatic brain injury patients and help guide treatment. This technology would provide valuable functional data and imaging from multiple areas of the brain which is currently not available at the bedside. Anesthesiologists have also expressed interest in using this technology to monitor collateral flow and perfusion during cardiac surgery and potentially identify neurological deficits like ischemia. We are very optimistic about the strong interest in this technology and are working to further develop the technology to meet the needs of the clinicians,” Caputo explained.
The grant was only available to taxpayers with no more than 250 employees and covers up to 50 percent of a taxpayer’s qualified investment. To provide an immediate boost to U.S. biomedical research, the credit was granted to qualified investments made in 2009 and 2010.
About Cephalogics, LLC.
Cephalogics, LLC is a privately-held startup company formed by Allied Minds, Inc. to commercialize the high-density diffuse optical tomography (HD-DOT) neuroimaging technology originally developed at Washington University in St. Louis by Dr. Joseph Culver. For more information, please visit the Cephalogics website: www.cephalogics.com.
About Allied Minds, Inc.
Allied Minds is a U.S. capital investment firm with offices in Boston and Los Angeles. With over $200M in assets, the Company creates startup businesses based on early-stage technology developed at renowned U.S. universities and national labs, and serves as a holding company that supports these businesses with capital, management and shared services. Allied Minds is the premier firm to utilize this novel and fully integrated approach to technology investing. The Company’s subsidiary investments span multiple business sectors and offer an attractive risk-return profile, a deliverable timeline and potential products that will be groundbreaking in their respective fields. These subsidiaries include BA Logix, Biotectix, Cephalogics, CryoXtract, Illumasonix, ProGDerm, Precision Biopsy, Purtein, RF Biocidics, SaltCheck, SiEnergy Systems, SoundCure and Spin Transfer Technologies. For more information, please visit www.alliedminds.com.
