SENO Medical Instruments Announces Receipt of $1 Million from the TETF
SAN ANTONIO, TEXAS – January 9, 2008 – Seno Medical Instruments, Inc., a company engaged in the development of medical devices for cancer, announced receipt of the remaining $1 million from the Texas Emerging Technology Fund (TETF). This award is one of the largest investments the State of Texas has made to date into a private company.
Seno Medical met targeted milestones in order to obtain this $1 million capital. Janet Campbell, Seno’s CEO said, “We are pleased to have achieved our pre-established milestones with the state. One milestone was to ship our initial Imagio Research Device to Ryerson University in Toronto, Canada.”
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 in August 2007. “The technological and medical advancements being made by Seno are exactly what Governor Perry envisioned when creating the Texas Emerging Technology Fund,” stated Texas Secretary of State Phil Wilson. “We look forward to continue watching Seno grow and prosper in Texas.”
The patented functional imaging technology is being 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.
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.