Wednesday, June 22, 2011

Colorado Institute for Drug, Device and Diagnostic Development Awards Funding to Fort Collins-based VetDC

The Colorado Institute for Drug, Device and Diagnostic Development has selected Ft. Collins, Colorado-based Veterinary Emerging Technologies Development Corporation (VetDC) to receive funding and management assistance. VetDC in-licenses, develops and commercializes technologies to address serious unmet medical needs in companion animals. The announcement is made by Kevin M. Smith, CID4 President & CEO, who says, "CID4 is providing funding as well as access to CID4’s expert management team’s experience and deep network of potential partners and funders to advance VetDC’s cancer-focused veterinary products."

Performance highlights of CID4 and its funded entities to date include:
* $1.25 million in investments by CID4 has allowed an additional $1.3 million in third party financing into Project companies.
* 20 jobs created within 18 months.
* FDA clearance to market Sophono, Inc.’s Alpha 1 abutment-free, bone anchored hearing device in the US and Europe.
* Rapid progression in PeptiVir’s research and development of its universal influenza vaccine.
* Established a continuous application process so technology owners can apply when they are ready (versus the prior model which was limited to semi-annual solicitations).
* Redevelopment of the CID4 website to provide a more interactive experience and provide more benefits to visitors, as well as provide a direct link to technology submissions.

Link to the PR Newswire release

Link to the Pitch Engine Social Media Release

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