Purdue Foundry Awards Health Tech Startups
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowTwo health care technology firms rooted at Purdue University have received approval to receive up to $250,000 from the Purdue Foundry Investment Fund.
The fund provides capital to startup companies focused on developing life science technologies that show promise.
Both of the recipients developed detection technology.
Amplified Sciences is working on advancing technology for earlier detection of cancer and other diseases. Amplified has received approval for $250,000, of which approximately $185,000 has been invested already.
“I often tell people that we wouldn’t be here without the support from the Purdue Foundry and other components of the Purdue entrepreneurship ecosystem,” said Diana Caldwell, president and chief executive officer of Amplified Sciences. “This latest support will help us continue our work to develop and commercialize lifesaving in vitro diagnostic tests that leverage our novel technology licensed from Purdue.”
The other recipient is Brightlamp. It developed an app that doctors can download to their phones that allows them to check patients for concussions in as little as five seconds by reading the patient’s eye.
“The latest funding helps us intensify our connections with the medical community as we work to make this the standard of care for this technology,” said Kurtis Sluss, CEO and founder of Brightlamp. “We take an interesting approach to the clinical problem, in that we work directly with medical professionals to learn and use our technology.”
The company has received approval for $250,000 in matching investment dollars, of which approximately $130,000 has closed.
The Foundry Investment Fund has invested nearly $5 million in 13 companies in the past five years.