Investment Firm Allied Minds to Commercialize New University of Colorado Technology
15-Jul-2008
Boston, Massachusetts - Allied Minds, a seed investment firm specializing in early stage university business ventures, has partnered with the University of Colorado to establish Precision Biopsy, LLC, which is developing an optical biopsy needle to be used in the diagnosis of prostate cancer.
Prostate cancer is the most common cancer affecting men and a leading cause of cancer deaths. Current diagnostic methods are widely accepted as flawed and inadequate; these include digital examination, PSA biomarker testing, and random needle biopsy. There is a clear unmet need for a method of accurately locating and diagnosing prostate cancer and for measuring the grade and extent of cancerous tissue within the organ to help determine the optimum course of treatment.
The optical biopsy needle invented at the University of Colorado’s Denver and Boulder campuses by Dr. Priya Werahera and Dr. John Daily will incorporate two spectroscopy techniques into the tip of a standard biopsy needle. These techniques will detect the difference between healthy and malignant tissue on a real-time basis and if the presence of cancer is detected, a biopsy will be taken for further evaluation. The information will be used to create an accurate image of the tumor and assist physicians in selecting the appropriate therapy. This technology could be adapted for use in other types of diagnosis where tissue morphology is crucial, such as breast cancer.
“Prostate cancer is very treatable when diagnosed early and accurately. This technology will help to ensure that diagnosis, prognosis, and treatment are delivered quickly and accurately”, says Allied Minds CEO, Christopher Silva.
The initial funding for Precision Biopsy is being provided by Allied Minds. To learn more about Precision Biopsy, please visit www.precisionbiopsy.com.
About Allied Minds, Inc
Allied Minds is a seed investment company creating partnerships with select universities to fund corporate spin-offs resulting from successful early stage technology research. By providing corporate development support as well as funding, Allied Minds aims to guide early stage companies to commercial success, thereby generating value for all stakeholders. For more information, logon to www.alliedminds.com
About the Technology Transfer Office
The CU Technology Transfer Office pursues, protects, packages, and licenses to business the intellectual property generated from research at CU. The TTO provides assistance to faculty, staff, and students, as well as to businesses looking to license or invest in CU technology. For more information about technology transfer at CU, visit www.cu.edu/techtransfer.
About the University of Colorado
The University of Colorado is a three-campus system with campuses in Boulder and Colorado Springs, and a Denver campus located in downtown Denver and at the Anschutz Medical Campus in Aurora. CU is a premier teaching and research university, ranked sixth among public institutions in federal research expenditures by the National Science Foundation. Academic prestige is marked by CU’s four Nobel laureates, seven MacArthur “genius” Fellows, 18 astronauts, 19 Rhodes Scholars and CU-Boulder’s ranking of 11th best public university in the world by the Institute for Higher Education. For further information, please visit www.cu.edu.
For additional information contact:
Chris Silva
CEO
Allied Minds, Inc
(781) 353-6404
chris.silva@alliedminds.com
Lindsay Polak
Technology Transfer Office
University of Colorado
(303) 735-5518
lindsay.polak@cu.edu
