CLEVELAND, OH--(Marketwired - Jan 3, 2017) - Apollo Medical Devices has been awarded a National Science Foundation (NSF) Small Business Innovation Research (SBIR) grant for $225,000 to conduct research and development on its handheld blood analysis system that provides results in five-minutes, using a single drop of blood. Additionally, the company received a National Institutes of Health (NIH) Clinical Facilitation Award for $25,000 through the CIMIT (Consortia for Improving Medicine with Innovation and Technology) Point-of-Care Technology Research Center.
Blood chemistry tests are the most frequently ordered tests in the US. The Apollo technology is minimally invasive, reduces patient fear and discomfort, and reduces costs and errors associated with pre-analytical testing steps. The simple-to-use platform can be utilized in a variety of areas, including neonatal care, acute care centers, first responders, primary care, military care, and disaster relief organizations. The global market for point-of-care blood chemistry testing is estimated to be $3.0 Billion.
"Apollo is extremely excited to receive the support of the NSF and the NIH," said Punkaj Ahuja, Founder and CTO of Apollo Medical Devices. "This funding validates our premise and will be instrumental in moving our technology one step closer to regulatory submission and commercialization."
About Apollo Medical Devices
Apollo Medical Devices, LLC is a medical technology company focused on the development and commercialization of in vitro diagnostics and point-of-care testing. The technology is protected by the Company's issued and pending patents licensed from and invented at Case Western Reserve University in Cleveland, OH. For more information: apollomedicaldevices.com.
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