Bionode's technology originally required contacts, but has been updated to produce the same effect with glasses only.
WEST LAFAYETTE -
The Purdue Research Foundation's Foundry Investment Fund is investing $750,000 in three life sciences startups. Purdue says the funding will be used as partial matches to investments made in the startups by other investors.
The FIF, which was established in 2014, co-invests with other investors to help startups based on life science technologies developed at Purdue. The fund is providing $250,000 each to Bionode LLC, Amplified Sciences LLC and CorMatrix Inc.
"This fund makes investments in companies that have secured external ‘smart money’ capital from the likes of venture funds and other institutional and professional investment sources," said John Hanak, managing director of Purdue Ventures. "In the future, we will continue to review emerging technologies with potential for outside and FIF investment."
Bionode, founded by Purdue biomedical engineering professor Pedro Irazoqui, has developed a wearable, bioelectronic device aimed at treating and preventing elevated intra-ocular pressure in glaucoma patients. Irazoqui appeared in Inside INdiana Business with Gerry Dick in February 2017 to talk about the technology, which you can view by clicking here.
Purdue says Amplified Sciences is developing an early detection technology for oncology and kidney diseases. The company was founded by Vincent Jo Davisson, a professor in Purdue's Department of Medicinal Chemistry and Molecular Pharmacology.
CorMatrix is a medical device company aimed at developing solutions for cardiac tissue repair using extracellular matrices. The company was founded by Purdue researcher Robert Matheny.
The FIF has invested $4.2 million since its inception.
By Jonathan Koop Portfolio Manager, Bedel Financial Consulting Inc.
Fact: The value of the stock market goes up and down. It’s called “market volatility”. How concerned should you be with a thousand point change in the index? Since your reaction can impact your personal portfolio, it’s most important that you have a good perspective. Significant price movements in the stock market grabbed headlines and captivated media pundits throughout 2018. The last week of the year the market experienced large price swings...
Pennsylvania-based Silberline Manufacturing Co. is detailing plans to close its facility in Adams County. In a notice to the state, the company says the closure will result in the layoffs of 50 employees.
The Indianapolis Airport Authority Board has approved new contracts for several retail and services vendors at Indianapolis International Airport. The contracts are the first of several approvals that are expected as part of the airport's Concessions Refresh initiative, which aims to increase the local focus among vendors. Marsha Stone, senior director of commercial enterprise at the airport, says the effort will be one of the most impactful public-facing projects that...
Forbes has ranked the best banks in the country and Indiana has placed two on the list. First Merchants Bank finished 2nd, and Old National Bancorp came in at 97. The metrics used by the publication include tangible common equity, return on average assets, net interest margin, efficiency ratio and net charge-offs as a percentage of total loans.
Evansville-based Old National Bancorp has announced Chief Executive Officer Bob Jones will retire in May, after 14 years with the bank. Chief Financial Officer Jim Ryan, who has been with Old National since 2000, will succeed Jones. Jones will continue to serve as Old National's chairman of the board through January 2020.
A new coworking space in Hancock County aims to fill an underserved need in east central Indiana. Idea Co-op features a traditional indoor coworking area, along with 36 acres of outdoor space that can be used by members. The coworking space is operated by Greenfield-based NineStar Connect and director of business and economic development Jill Snyder says the outdoor aspect makes it a unique concept for the region.