Houston-based BreviTest Technologies was awarded the $25,000 Goradia Innovation Prize, which was granted by the Houston Technology Center, for its work in the development of a novel device able to provide rapid biomedical diagnostic testing at the point of care. The Fannin Innovation Studio portfolio company was one of the awardees of the annual prize meant to distinguish early stage companies in the Gulf Coast.
The Goradia Innovation Prize grants almost $150,000 each year as a way of encouraging the production of innovative technologies with a high potential of commercialization developed by early-stage companies in the region. This is the second Houston-based company managed by Fannin to be awarded the Goradia Innovation Prize, as Fannin’s Procyrion, Inc. was also awarded a $50,000 grant in 2012.
“The region is rife with groundbreaking innovation,” stated Dev Chatterjee, BreviTest’s co-founder and director of research. “To be honored with this prize confirms the strength of this technology. The prize money will allow us to build and test a third-generation prototype bringing the device that much closer to commercialization.”
The device developed by BreviTest is meant to conduct tests at the point of care within five to ten minutes through the use of customizable, disposable cartridges and chemistries. Currently, the standard test used in clinical laboratories usually takes several hours and requires expensive equipment and experienced technicians.
The company expects to be able to improve the tests conducted at physicians’ offices, emergency and non-emergency settings, as well as in the context of home monitoring of chronic diseases and for allergen detection. In addition, BreviTest has already announced that their device may be used in the detection of Ebola, even in environments with challenged resources.
In fact, BreviTest believes that the technology may be especially helpful in field situations, due to its capacity to conduct rapid point-of-care testing for diseases with far reaching impact, namely regarding the current epidemic situation. The company is now working on ways of including the device into the series of international responses to the crisis.
“We are highly selective in seeking innovators with whom to partner with and found the transformative nature of the BreviTest technology very appealing. We look forward to co-developing more cutting-edge opportunities worthy of the Goradia Innovation Prize,” added Atul Varadhachary, MD, PhD, Managing Partner of Fannin Innovation Studio.