Precision Biopsy Initiates Ex-vivo Study with Newly Engineered Optical Biopsy Needle
09-Feb-2009
Boston, Massachusetts – Precision Biopsy LLC, has begun optical biopsy measurements from excised prostate specimens using their newly engineered biopsy needle. As the company pioneers the use of spectroscopy readings at the precise location of proposed biopsies, the new design of the needle mechanism has permitted more accurate and reliable performance. The mechanical performance has been exceptional and shown the ability to combine a robust devise capable of removing clean margin tissue samples with a delicate and sensitive spectroscopy probe.
Prostate cancer is the most common form of cancer affecting men, with 1 in 6 men developing the disease in his lifetime. In 2008, an estimated 186,320 men will be diagnosed with prostate cancer and 28,660 men will die of this disease in the U.S. Accurately diagnosing and staging the disease is the key to saving lives and reducing the cost of treating this illness. The Precision Biopsy optical biopsy technology will be a crucial component in reducing the number of unneeded prostate biopsies and in providing pivotal therapeutic information to urologists and oncologists.
Erick Rabins, the Company’s CEO stated “The reliable measurements the newly engineered needle will permit us to take will speed the development of an approved medical device which, for the first time, will be able to determine if the tip of the biopsy needle has encountered cancerous tissue.” Mr. Rabins, who also serves as a V.P. of Allied Minds, the company’s parent corporation, continued; “if we can reduce the number of unnecessary repeat biopsies by even a small percentage, we can save the health care industry millions of dollars per year as well as significantly reduce patient anxiety.”
About Precision Biopsy LLC and Allied Minds, Inc.
Precision Biopsy LLC is a privately-held startup company formed by Allied Minds, Inc. in cooperation with the University of Colorado to commercialize a revolutionary optical biopsy technology designed to improve the accuracy and reliability of prostate biopsies and the diagnosis of prostate cancer. Website: www.precisionbiopsy.com
Allied Minds, Inc. is the premier seed organization for early-stage technology. The company focuses on converting academic discoveries into commercial reality by working exclusively with a network of U.S. universities and national labs. By filling the gap between government grants and traditional venture capitalists, Allied Minds focuses on funding innovations with significant transformative potential. Instead of managing funds, the company fosters early-stage companies through to success, generating value for all stakeholders. Allied Minds has a nationwide footprint with offices in Boston, Seattle, Washington, D.C. and Los Angeles, and a European presence in London, United Kingdom. Website: www.alliedminds.com
For additional information contact;
Chris Silva
Precision Biopsy LLC, an Allied Minds Company
(781) 353-6404
chris.silva@alliedminds.com
