BioMedomics Adds $745K NIH Grant
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Research Triangle Park-based medical diagnostics company BioMedomics has added a new $745,000 federal grant to its war chest.
BioMedomics, started in 2007 with the help of a $25,000 loan from the North Carolina Biotechnology Center, was awarded a two-year Small Business Innovation Research (SBIR) Phase II contract from the National Institutes of Health, to develop its portable system for detecting drug abuse.
BioMedomics works in the sub-microscopic realm of nanotechnology to develop its proprietary, highly sensitive point-of-care testing devices and accompanying test strips.
The company was also the first to join the Hamner Institutes for Health Sciences’ accelerator for startup life-science companies.
"We are very happy to receive the SBIR Phase II award during this challenging time,” said Frank Wang, Ph.D., CEO, who is also a co-founder of the firm. “That early Biotechnology Center support has enabled us to continue successfully developing our technology with the aid of additional federal and state funding.”
Leveraged by the early Biotech Center loan, BioMedomics has received more than $2 million in state and federal grants and has been able to sell product while developing new markets for its platform.
Wang said the company’s biomarker-detection system has broad commercial applications, ranging from human and veterinary diagnostics to drug-abuse testing to drug discovery and development to food and environmental monitoring.