SAN ANTONIO, TEXAS — August 21, 2007 – Seno Medical Instruments, Inc., a company engaged in the development of medical devices announced a $2 million dollar award from the Texas Emerging Technology Fund (TETF). This funding will allow the company to further develop its life saving technology for cancer imaging and detection and move it closer to the global marketplace.
Texas Secretary of State Phil Wilson and Seno Medical Instruments, Inc. CEO Janet Campbell announced the Fund’s investment during a joint press conference at the world renowned Cancer Therapy and Research Center in San Antonio. The patented functional imaging technology will be commercialized to produce real-time color images which differentiate benign and malignant tumors, for all solid tumors, such as in breast cancer. Seno’s intent is to provide the most advanced high quality products for cancer screening, diagnosis and therapeutic treatment that are more humane than existing technologies.
“I am pleased that the state of Texas and its elected leadership recognize and support Seno’s technology, and our effort to create better tools for the detection and treatment of breast cancer. On behalf of my management team, we are grateful for the support we’ve received from our investors and organizations, not only in our hometown of San Antonio, but across Texas and the nation,” said Campbell.
The TETF is a $200 million program created by the Texas Legislature in 2005. A 17-member advisory committee of high-tech leaders, entrepreneurs and research experts reviews potential TETF projects and recommends funding for projects to the Governor, Lieutenant Governor and Speaker of the House. To date, the TETF has allocated $94.1 million in grant funds to Texas companies and universities across the state.
“Technological innovation is the lifeblood of today’s economy,” said Texas Governor Rick Perry. “Texas is making an important investment, literally, in the foundation of our future. By supporting advancing technology projects, such as breast cancer diagnostic devices, we are making a difference in a wide variety of products and services that enhance the quality of lives here today, and in the future.”
Seno Medical has selected the Cancer Therapy and Research Center and the University of Texas Health Science Center at San Antonio to conduct initial clinical studies.