Thursday, June 24, 2010

OSU, Neoprobe up for 3rd Frontier grants - Business First of Columbus

OSU, Neoprobe up for 3rd Frontier grants - Business First of Columbus

Central Ohio’s largest university and its smallest public company are poised to benefit from nearly $9 million in Third Frontier funding awarded this week.

The Ohio Third Frontier Commission has recommended about $8.9 million be channeled to several projects tied to commercializing medical imaging-related projects. The awards, which require approval from the state Controlling Board, are expected to leverage nearly $16 million of additional investment.

Ohio State University was awarded $1.7 million for an effort to improve the quality and resolution of ultra-high field magnetic resonance imaging.

The university is part of two other MRI-related projects that received funding this week:

• An effort to improve MRI quality for pediatric patients, led by GE Healthcare Technologies of Aurora, was awarded $1 million and includes OSU and Cincinnati Children’s Medical Center as partners.

EXCMR Ltd. of Columbus clinched $1.4 million from Third Frontier for a stress-induced MRI project that includes OSU researchers.

Dublin medical device developer Neoprobe Corp. (OTC BB:NEOP) was awarded $1 million toward continued clinical studies of its Lymphoseek drug, used to detect cancer in lymph nodes. The company, which is moving the product closer to the market, listed Dublin-based Cardinal Health Inc. (NYSE:CAH) as a partner in its research efforts.


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