Life Sciences Company Lands FundingPosted: Updated:
Indianapolis-based FAST Biomedical has received a $1 million grant from the National Institute of Health. The funding will support the company's research on technology designed to help manage patients with kidney disease or injury.
March 27, 2014
Indianapolis, Ind. -- FAST BioMedical announced today that the company has received a Phase II SBIR award from the National Institute of Health, National Institute of Diabetes and Digestive and Kidney Diseases. The $1 million grant will help fund FAST BioMedical's ongoing U.S. clinical study investigating the use of the company's groundbreaking technology for measuring plasma volume and kidney function. FAST BioMedical completed a Phase I study in 2012, and the present study evaluates the company's technology in patients with moderate to severe chronic kidney disease and acute kidney injury.
"We are very appreciative of the continued support from the NIH," said Dr. Bruce Molitoris, FAST BioMedical's Medical Director and past president of the American Society of Nephrology. "We look forward to continuing to advance this important technology, which will be of great value to the clinical management of critically ill patients and also to the future development of new therapies and protocols for better patient care. We believe that a quantitative measurement of a patient's plasma and blood volume status and kidney function will have a demonstrable impact on outcomes in an area of medicine that has seen only modest advances in previous decades. Currently, physicians don't have either a direct or timely way to assess these key parameters clinically."
More information regarding FAST BioMedical's clinical study can be obtained at www.ClinicalTrials.Gov.
About FAST BioMedical
FAST BioMedical is a private, clinical-stage medical technology company based in Indianapolis, Indiana. The company's patented technology uses a fluorescent compound to determine volume status and kidney function in critical care environments. FAST BioMedical has raised over $16 million dollars with the supports of the NIH, the Indiana 21st Century Fund, Elevate Ventures, BioCrossroads, and private investors.
Source: FAST BioMedical