The Purdue Research Foundation (Indiana, USA) has awarded $150,000 in investment to two companies that have licensed Purdue University Innovations, Telos Discovery Systems Inc. and bioVidria Inc. The investment is from the Emerging Innovations Fund that was setup in 2008 to accelerate the commercialization of early stage technologies in the Purdue community.
bioVidria Inc. received $75,000. The company is based on work of Mary J. Wirth, the W. Brooks Fortune Distinguished Professor of Analytical Chemistry in the Department of Chemistry. bioVidria Inc. focus on developing new materials for chromatography, specifically protein analysis, for the pharmaceutical and agricultural industries.
Telos Discovery Systems Inc. also received $75,000. The company is a boutique equipment manufacturer that supports basic and discovery medical research. The company is based on the work of Joseph Garner, a former Purdue associate professor in the Department of Animal Sciences.
Elizabeth Hart-Wells, assistant vice president and director of the Purdue Office of Technology Commercialization said: “The fund makes seed investments and early-stage investments in the form of convertible debt and/or warrants, with a goal of accelerating the commercialization of early-stage innovations."
For more information visit: otc-prf.org/emerging-innovations-fund