Funding Boosts Purdue Startups

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One of the companies to receive the funding, Phlebotics LLC, is chaired by Peter Kissinger, who also founded West Lafayette-based Bioanalytical Systems Inc. One of the companies to receive the funding, Phlebotics LLC, is chaired by Peter Kissinger, who also founded West Lafayette-based Bioanalytical Systems Inc.
WEST LAFAYETTE -

Seven startups connected to Purdue University will share in nearly $150,000. The funding from the Elevate Purdue Foundry Fund will support companies that include a rocket fuel developer, a blood diagnostics technology provider and a hands-free, 3-D printing technology business.

The funds are the latest First-Tier Black Awards that are part of an overall $2 million, three-year collaboration among the Purdue Foundry, Elevate Ventures and the Indiana Economic Development Corp. To date, 27 companies have been supported through the Elevate Purdue Foundry Fund.

The startups receiving $20,000 each are:

Adranos Energetics LLC, a rocket fuel company that serves the aviation and aerospace industries, has developed an innovative solid rocket fuel that could minimize HCI aerosol formation and increase total propulsion.

Lodos Theranostics LLC, a health-care startup that is commercializing a nanotechnology called "Radio Luminescence Therapy" that promises to achieve improved benefits of radiation treatment with reduced negative effects.

Phlebotics LLC, a biomedical startup that is developing an innovation that could reduce the amount of blood drawn for diagnostic testing through automated micro-volume blood collection.

Resarci Therapeutics LLC, a biomedical startup that could improve treatment for late-stage prostate cancer through a new therapeutic strategy by targeting the cholesterol metabolism instead of the androgen pathway.

STEMinent LLC, an educational assessment company that provides students and educators with an effective online platform to assess faculty performance in the classroom using a valid, consistent and unbiased standard in real-time following the end of a class session.

Vibronix Inc., a biomedical company commercializing an innovation that could guide early heart disease treatments through better identification of location and severity of the disease.

ZeroUI Inc., a computer software company that is commercializing a new class of hand-free, gesture-based 3-D modeling software that helps design and make things on a 3-D printer.

Elevate Ventures Chief Executive Officer Chris LaMothe says these startups and the others that have been supported through the program during the last year "have the potential of making a strong impact on economic development across Indiana. The depth and variety of innovation and entrepreneurial activities shown in these companies and the others who submitted proposals is encouraging and is a testament to the talent and hard work of researchers and entrepreneurs at Purdue University."

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