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June 10, 2010
KBA invests in two Kansas companies making advances in the mobility and cardiovascular fields
OLATHE, Kan. — The Kansas Bioscience Authority has awarded more than $145,000 to two Kansas companies working to commercialize highly innovative medical devices that will improve treatment options for patients who use wheelchairs and suffer from cardiovascular disease.
The Kansas Bioscience Authority is working with the following companies to bring their products to market:
- Valley Center-based Aero Innovative Research (AIR) has been awarded $73,000 to develop an effective marketing plan for its wheelchair offering improved function, superior materials, advanced design, and computer automated machining that replaces the manual labor involved in conventional wheelchairs. Customer feedback regarding the product indicates the company has uncovered an underserved segment of an estimated $2.4 billion market by offering the lightest fully adjustable folding wheelchair in the world thanks to its use of aerospace technologies.
- Novita Therapeutics of Lenexa will receive up to $72,578 to support the development of a novel implantable cardiovascular device. The device is intended to treat a chronic condition impacting more than 200,000 patients in the U.S. and will provide a new treatment option that will reduce morbidity and mortality for these patients, while also reducing the overall cost of their care.
KBA president Tom Thornton said that, in addition to financial support, the KBA will provide hands-on business assistance to the companies in the commercialization process.
“These companies are on the cutting edge of their fields, and their technological advances are very exciting,” Thornton said. “We are pleased not only to invest in their success, but to roll up our sleeves and help them get products to market and create jobs in Kansas.”
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“The KBA is helping local entrepreneurs avoid the biotech valley of death.”
- Debra Ellies, PhD, CEO and President, OsteoGeneX