HTC and Gulf Coast RCIC Announce a $750,000 Award to OrthoAccel Technologies, Inc. by Texas Emerging Technology Fund
FOR IMMEDIATE RELEASE
February 28, 2008
Houston Technology Center (HTC) and Gulf Coast Regional Center of Innovation and Commercialization (Gulf Coast RCIC) for the Texas Emerging Technology Fund (ETF) announced today that OrthoAccel Technologies, Inc. was awarded a Commercialization Award by the ETF. The award for the Gulf Coast region company was officially announced by Governor Rick Perry.
Houston-based OrthoAccel Technologies, Inc.was awarded $750,000 to further develop and commercialize itsorthodontic device, the Celerect.
“We are very excited about this technology which has the potential to favorably disrupt the current practice of treating malocclusion and straightening teeth. As a management team, we are especially proud to have this opportunity based in Texas, and the ETF Commercialization Award has been a critical enabler for our effort. This funding is being used to attract further management talent to Texas, complete device prototyping, and launch the first human trial right here in Houston,” said Michael Lowe, President & CEO of OrthoAccel Technologies, Inc.
OrthoAccel Technologies, Inc. designs, develops and markets a revolutionary orthodontic device, based on a technology that cuts treatment time for braces in half. Similar in design to a football mouthguard, the Celerect delivers pulsing, vibratory forces that enhance the constant forces being applied by the traditional braces. First-in-human trials are scheduled to begin in the first half of 2008 with a market launch planned in 2009. For more information, visit www.orthoaccel.com. OrthoAccel Technologies, Inc. was assisted by Greater Houston Partnership with this funding request.
OrthoAccel Technologies, Inc., winner of BioHouston’s 2007 Michael E. DeBakey Life Science Award, is a client of Houston Technology Center’s Acceleration program and will be jointly assisted by HTC and BioHouston. With this award, the company joins 14 other Gulf Coast region award recipients, all supported by Houston Technology Center Acceleration program:
CorInnova Incorporated; Endothelix, Inc.; itRobotics, Inc.; NanoComposites, Inc. (NCI); Nanospectra Biosciences, Inc.; Carbon Nanotube Acceleration Project (CNAP), an operating division of Carbon Nanotechnologies, Inc. (CNI); PLx Pharma; Molecular LogiX Inc.; Lynntech, Inc.; Bellicum Pharmaceuticals, Inc.; Laser Tissue Welding, Inc.; StarVision Technologies, Inc.; Thrombovision, Inc. and Visualase, Inc.
The Legislature at Governor Rick Perry’s request, created the $200 million Texas Emerging Technology Fund in June 2005 to assist small to mid-size technology companies launch sooner, expedite the commercialization of new life-changing inventions out of the lab and into the hands of consumers and improve research at Texas universities. The ETF program has been renewed to fund awards through August, 2009.
HTC serves as the Gulf Coast RCIC for the ETF, collaborating with Greater Houston Partnership (GHP), Economic Development Organizations (EDO) within its 30-county region, area universities, and community volunteers. The Gulf Coast RCIC and the other seven centers are responsible for processing all funding applications and supporting emerging technology companies in their regions.
“Houston Technology Center congratulates its client, OrthoAccel Technologies, Inc. for winning this award that will assist the company in commercializing its innovative technology. HTC is privileged to be a part of this state-wide effort to elevate our emerging technology sector and universities and make Texas a strong competitor in the global marketplace. ETF results thus far have had great benefits to the State, the region and our community”, stated Walter Ulrich, President and CEO of Houston Technology Center.
Gulf Coast RCIC is currently accepting applications submitted for the 2-3 round of funding by the ETF. Deadline to submit applications for this current round is March 11, 2008 10:00 AM CST. For detailed information about the Emerging Technology Fund and upcoming deadlines, visit the Gulf Coast RCIC web site at www.gulfcoastrcic.org.
About Houston Technology Center: Houston Technology Center (HTC) is Greater Houston’s business accelerator and the largest technology business incubator in Texas. A 501(C)(3) corporation and the center of entrepreneurship in Houston, HTC accelerates the commercialization of emerging technology companies within several key sectors: Energy, Technology, Life Sciences, Nanotechnology and NASA / Aerospace technologies. For more information visit www.houstontech.org.
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