Healthcare Industry News: uterine cancer
News Release - October 17, 2006
UNM Scientists Receive Funding for New Non-Invasive Endometrial Cancer TestInvestment Firm, Allied Minds, Licenses University of New Mexico Technology
BOSTON, Oct. 17 (HSMN NewsFeed) -- An endometrial cancer detection test (EndoScreen) under development at the University of New Mexico (UNM) has recently been infused with a cash injection by Boston firm, Allied Minds.
Allied Minds, a pre-seed investment firm, specializes in early-stage technologies derived through university research. Allied Mind's business model targets educational institutions that may be underserved and under funded when it comes to research and product commercialization. Christopher Silva, CEO of Allied Minds, says, "We're very excited about the technologies and research we've seen at UNM. The EndoScreen test is hopefully the first of many investments at UNM."
Allied Minds will fund the current research team headed by Kimberly Leslie, M.D., Professor and Chief, Division of Maternal-Fetal Medicine and Medical Director of the Women's Inpatient Unit up to $750,000. In turn, Allied Minds has licensed the technology through the Science & Technology Corporation @ UNM (STC), the technology transfer arm of UNM. A start-up company will be formed and will reside in the state of New Mexico creating jobs and influencing economic development.
Although not by any designed strategy, Allied Minds has recently invested in other technologies that focus on women's healthcare. Silva says, "It's particularly satisfying to be involved in technologies that have a socially significant value."
Endometrial Cancer & EndoCare
Endometrial cancer (commonly referred to as uterine cancer) is the most common gynecological malignancy found in patients and the fourth leading cause of cancer in women. It has been identified by the National Cancer Institute as an under-studied cancer. It accounts for 6% of all cancers and affects approximately 39,000 women per year -- 7,500 of which will succumb to the disease. Unfortunately, this cancer shows little or no symptoms in early stages. It is, however, one cancer that is easily treated when detected early.
"There is a misconception that a Pap smear test detects all forms of uterine cancer," said Leslie, co-inventor of the EndoScreen technology. "A screening product, such as EndoScreen, would be much less invasive and could save women's lives by catching the cancer at an earlier and treatable stage. It would also be a cost-effective alternative to biopsy for both patients and healthcare providers.
This agreement is the first step in the commercialization of the technology. The next steps entail further development and clinical evaluation, test kit development, FDA approval, and then off to market.
STC is a nonprofit organization wholly owned by UNM. STC assists in connecting the business community and UNM -- to protect and transfer intellectual property and faculty inventions to the commercial marketplace and to help companies who want to access UNM facilities, expertise, and research conducted at the University.
More about EndoScreen, please visit: http://www.endoscreen.com
More about Allied Minds, please visit: http://www.alliedminds.com
More about Science & Technology Corporation @ UNM, please visit: http://stc.unm.edu
Source: Allied Minds
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.