Clear Guide Medical has been awarded a National Cancer Institute 2-year, $1,000,000 grant to commercialize its innovative technology. Clear Guide Medical intends to use the funding from this grant to bring its revolutionary ultrasound-guidance device to the market and to receive FDA clearance for additional features. "This award makes it possible to work both on getting our first generation device successfully into the market, as well as developing the technology that will form the basis of additional features which will be added in the second generation," said Greg Hager, CEO of Clear Guide Medical. The company intends to hire additional software engineers and will expand its footprint in the JHU Business and technology accelerator, FastForward.
About Clear Guide Medical
Clear Guide Medical, a spinout of Johns Hopkins University, provides innovative advanced image-guidance for needle-based interventions and diagnostics. The company won the Maryland Incubator Company of the Year Award in the Life Sciences/Medical Device category. Clear Guide Medical was also a finalist in Maryland's 2013 and 2012 Innovation, Corporate Excellence and Entrepreneurship (ICE) Awards, as well as a national top 10 University Startup in 2012. CGM is currently working on FDA clearance for its first generation device to be used with ultrasound-based interventions. The company has received over $2,205,000 in grants and awards and is seeking early stage private investment.
About the Small Business Innovation Research (SBIR) Program
The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. The mission of the SBIR program is to support scientific excellence and technological innovation through the investment of Federal research funds in critical American priorities to build a strong national economy. Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization. By including qualified small businesses in the nation's R&D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs. For more about SBIRs, please see http://www.sbir.gov/about/about-sbir.