Dynasil Biomedical Begins Operation
WATERTOWN, Mass., April 15, 2011 — Dynasil Corp. of America has announced the incorporation of a new business unit to pursue opportunities in the biomedical field.
Located in Rochester, Minn., Dynasil Biomedical Corp. has hired Dr. Daniel Ericson as its scientific lead with responsibility for research and development. The company purchased for $300,000 Ericson’s rights to six biomedical technologies invented or co-invented by him, as well as certain rights to royalties and milestone payments if the technologies are successfully developed.
Prior to Dynasil Biomedical, Ericson worked at the Mayo Clinic. Several of the assigned technologies are jointly owned with that institution. In addition, he has invented several medical technologies that are in commercial use or are being developed for commercial use by unrelated parties.
One of Ericson’s inventions purchased by Dynasil is a tuberculosis test with the potential to provide a one-hour tuberculosis screening for patients. Present tests require several days, making them unsuitable for Third World countries.
The second invention is for a tissue sealant developed for both topical and internal bleeding. The sealant, which has high tensile strength, accelerates clot formation. The third set of technologies focuses on point-of-care diagnostics for assessing hemophilia, blood coagulation and cardiovascular risk. The tests use finger-stick blood samples and handheld optical detection systems.
All three of the technologies are in the development stage and may require further investment to support development, regulatory approval and commercialization. In this endeavor, the company will collaborate with its RMD Research organization and its RMD Instruments business.
Dynasil expects to make additional investments to accelerate the newly purchased technologies’ release into the market and reports that its investments will be complemented by external research funding.
For more information, visit: www.dynasilcorp.com
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