Thursday, October 11, 2007

Texas Emerging Technology Fund Funds Startups With $3.86M

Four fledgling Houston-area companies recently received a total of $3.86 million from the Texas Emerging Technology Fund, the agencies responsible for determining the awards announced Wednesday. The Houston Technology Center and the Gulf Coast Regional Center of Innovation and Commercialization awarded the largest amount, $1.5 million, to ThromboVision Inc., a biomedical diagnostics company. The Houston-based startup will use the funds to perfect its ThromboGuide platelet function analyzer, the centers said. The centers said they earmarked $750,000 for another biomedical diagnostics company, Houston-based Visualase Inc. The centers noted that Visualase will apply the money toward improving its VisualaseR thermal therapy system, which would be used to treat malignant cancers. Another Houston-based company, Bellicum Inc., garnered $1.45 million to develop next-generation therapeutic vaccines for cancer treatment. Lastly, the centers said they awarded $160,000 to Laser Tissue Welding Inc., a biotherapeutic company headquartered in Humble, Texas. Laser Tissue Welding will use the funds to develop surgical adhesives that are biodegradable and sutureless. Texas Gov. Rick Perry established the $200 million Emerging Technology Fund in June 2005 to assist small- to mid-sized technology-oriented startups. The Houston Technology Center and Gulf Coast RCIC are charged with designating fund recipients for the Gulf Coast region. To date, 14 startups have received more than $13 million.