Mediomics LLC Awarded Phase II Grant from NIH: Receives more than $1M for Rapid Homogenous Protein Assay Platform Development
ST. LOUIS, Jul 27, 2010 (BUSINESS WIRE) -- Mediomics, LLC has received an additional $460,000 in a renewal of its 2nd year STTR Phase II grant (R42GM079891) from the National Institute of General Medical Sciences. Since 2007, Mediomics has received over one million dollars of STTR funding to develop its quick and sensitive homogenous PINCER(TM) protein assay. The major goal of the second year project is to further increase the sensitivity of the biosensor.
Mediomics is currently focused on developing a sustainable, profitable biotechnology business that provides innovative assay kits, biosensors and microarrays for academic and corporate research, point of care testing, food and pharmaceutical production process control, as well as the medical and environmental research markets. These assay kits will be used to quantify most biologically and therapeutically important macromolecules, including ligands, proteins, protein complexes and pathogens. By 2012, it has been estimated that the global market for biosensors will reach approximately $6.1 billion dollars.
The company's rapid, mix-and--measure homogeneous assays have already been adapted for the detection of a range of biologically and therapeutically important macromolecules, including cAMP, tryptophan, S-adenosyl methionine, PDE assay, biotin, human insulin, C-peptide, human albumin, human C-reactive protein (hCRP), IgG, IgM, E. Coli and others.
"The grant will be enormously helpful as we continue to develop fast (5-30 min), simple (mix and measure), robust (CV<10%) and cost effective biosensors for detecting biomarkers, toxins and pathogens," said Mediomics President, Dr. Yie-Hwa Chang. "We expect in particular to achieve breakthroughs in sensitivity levels, making this a very attractive alternative to many products on the market, such as ELISA-based detecting technologies."
Company Background
Dr. Yie-Hwa Chang founded Mediomics, LLC in August 2001. Mediomics, LLC is commercializing core technologies for which it has secured an exclusive license from Saint Louis University, including the following: (i) a DNA-binding protein-based bioassay, biosensor and biochip platform, (ii) a related variant -- the molecular PINCER(TM)-based homogeneous biosensor, bioassay, biochip platforms and companion devices, and (iii) innovative, proprietary methods to screen and develop new high-affinity capture reagents for research, diagnostic and therapeutic use.
Mediomics has successfully competed for government funding in the past as well, with awards to date including SBIR Phase I and II grants from the NSF, STTR Phase I and II grants from the NIH, subcontracts from the Department of Homeland Security, and a grant from the Leonard Wood Institute.
Future products will include hundreds of assay kits, high-throughput screening kits (particularly for targets for drug discovery), and support expansion into clinical diagnostic markets.