Press Release Source: South Texas Regional Center for Innovation & Commercialization
Thursday October 23, 4:20 pm ET
Corpus Christi-Based Company to Commercialize an Innovative Method for the Removal of Skin Lesions Using Cryosurgery
CORPUS CHRISTI, Texas -- The South Texas Regional Center for Innovation & Commercialization (STRCIC) announced today that CryoPen has received a $2M award from the $200M Texas Emerging Technology Fund (ETF).
CryoPen is developing its cryosurgery technology for the removal of a variety of skin lesions. This patented technology will allow dermatologists, family physicians, pediatricians, general practitioners, and other health care professionals to perform safe and simple removal of skin lesions without the need for highly specialized equipment, facilities, or training. This technology will make this procedure available to a much larger number of patients than are currently being treated today.
David Engel, Chairman of the Corpus Christi Regional Economic Development Corporation said, “CryoPen’s research, development and products are a perfect match for an award from the Texas Emerging Technology Fund. It is innovation of this type that contributes to growing the technology community here in Corpus Christi and the State of Texas at large. Corpus Christi is known globally as an energy center and we are excited that this award from the Emerging Technology Fund to CryoPen represents further diversification of our robust regional economy.”
Dr. Michael Haas, President and CEO of CryoPen, said, “CryoPen is a simple to use cryosurgical tool. Current methods require special storage and handling requirements with exposure to dangerous cryogenic gases and liquids. We look forward to making a significant contribution to the Corpus Christi local economy and thank the efforts of the South Texas RCIC in helping us to secure this award.”
District 20 State Senator Juan “Chuy” Hinojosa added, “The State of Texas is fortunate to have the opportunity to accelerate CryoPen’s success in the marketplace. This investment amplifies Corpus Christi’s already robust environment of high quality jobs and solid economic growth. As a steward of our state’s resources, I’m proud to support the Emerging Technology Fund and its role in making Texas truly ‘Open for Business’.”
The ETF was first created by the Texas Legislature in 2005 at Governor Rick Perry’s request. It was reauthorized in 2008 and will award more than $165 million in the next two years. With this recent award, the ETF will have invested over $14 million in the South Texas regional economy.
Technology companies interested in pursuing funding from the ETF should contact the STRCIC at 210-458-2523. The South Texas Regional Center for Innovation and Commercialization is responsible for helping companies navigate the ETF process and raise early-stage financing.
About the South Texas RCIC
The South Texas RCIC (STRCIC) exists to Inspire technology innovation and commercialization, Create technology companies, and Grow them into viable businesses in the south Texas regional economy. STRCIC is the South Texas portal for the Texas $200M Emerging Technology Fund, and all applications in a 31 county region from Nueces County (Corpus Christi) to Bexar County (San Antonio) go thru the STRCIC. For more information on the STRCIC, visit http://www.strcic.com.
Contact:
For South Texas RCIC
Jim Poage, 210-458-2523
Fax: 210-458-2529
jbp@satai.us
Source: South Texas Regional Center for Innovation & Commercialization