The Austin Chamber of Commerce and the Central Texas Regional Center of Innovation and Commercialization (CenTex RCIC) announce that the state of Texas has chosen NanoMedical Systems, Inc. (NMS) as the recipient of a project award funded through the Texas Emerging Technology Fund (ETF). The Austin-based company will receive a $3.5 million project award to accelerate completion of engineering and pre-clinical testing of nanochannel drug delivery devices. NMS is a newly formed startup company, focused on development and commercialization of the patented research of Dr. Mauro Ferrari (2007 ETF Superiority Award designee) and colleagues at the University of Texas Health Science Center at Houston (UTHSC-Houston).

“Companies such as this are exactly what the RCIC strives to encourage,” said Jeff King, Partner Haynes & Boone, LLP and Chairman of the CenTex RCIC. “Their breakthrough technologies will help Austin become a leader in life sciences.”

NMS believes that the application of nanotechnology to the drug delivery challenge will transform the quality-of-life landscape for humanity. The mission of NMS is to meet the growing demand for improved safety, effectiveness and cost in patient treatment with a suite of innovative nanotechnology-based drug delivery devices offering life-changing, in-body, dynamic control of the delivery of therapeutic molecules. NMS is developing an exciting and very unique product that is well positioned to enter the rapidly growing drug delivery market. If successful, NMS will have a noticeable economic impact upon the State of Texas and the country.

“Our platform technologies are unique in their ability to provide reliable drug dosing with profiles tailored to the individual patient’s needs, and therefore have the potential to engender a revolutionary transformation in medicine,” said Randy Goodall, President and CEO NanoMedical Systems, Inc. “The ETF is making a significant investment in the groundwork of the future of Texas and the county by supporting NanoMedical Systems.”

This ETF project will fund NanoMedical Systems in the development of the Personalized Molecular Drug-delivery System (PMDS), a small drug delivery device that is implanted subcutaneously (just under the skin) for slowly releasing a therapeutic agent over many weeks or months. The PMDS is a new alternative to current treatments with a long regimen of injections and/or clinical visits. The device will support many potential active pharmaceutical ingredients, with initial research and product development focusing on anti-cancer treatments.

“The NMS partnership with UTHSC-Houston is breaking down the barriers to successful commercialization of nano-bio technology by leading the way in the nanofabrication of components suitable for use in pre-clinical and clinical studies, a key goal of the Governor’s office,” said Dr. Peter Davies, UTHSC Houston Executive Vice President for Research.

NanoMedical Systems, Inc. was selected by the CenTex RCIC after an extensive due diligence process based on multiple criteria including a stringent analyses of the market and financial opportunity, technology potential, management team and economic impact to Texas.

“NMS, with its third party seed funding now combined with this ETF award is also a clear example of how the ETF Superiority Award program can stimulate the biotech industry in Texas and demonstrate our commitment to the licensing and commercialization of new technologies,” said Dr. Bruce Butler, UTHSC Houston Vice President for Research and Technology.

The CenTex RCIC is a virtual center that operates out of the Austin Chamber of Commerce and serves as a catalyst for emerging technology research, development, commercialization and start-up incubation. In an effort to keep Texas globally competitive, the CenTex RCIC focuses on integrating technology development and commercialization in a 15-county region.

The CenTex RCIC works closely with the Chamber’s AusTech Alliance, a group of technology businesses and organizations working to consolidate efforts that strengthen the regional technology sector and to keep Texas globally competitive. The Central Texas Angel Network (CTAN), which aims to assist local entrepreneurs with investment opportunities, also works with the CenTex RCIC, ETF and the universities to identify capital for start-ups.