GAINESVILLE and BOCA RATON, Fla., Nov. 30, 2015 /PRNewswire-USNewswire/ -- The Florida Institute for the Commercialization of Public Research (the Institute) announced today that it has finalized a funding agreement with KynderMed, a medical device start-up company with technology developed at Florida State University. The Institute supports new company creation based on publicly-funded research, and bridges early funding gaps for companies spinning out of Florida-based universities and research institutions.
KynderMed has developed a safe, non-invasive medical device that enables at-risk women to avoid the onset of premature labor. Preterm births result in one million infant deaths globally per year and an additional two million infants born with severe lifelong disabilities such as cerebral palsy and profound retardation. In the U.S. alone this costs the healthcare system an estimated $50+ billion per year. The device uses a specific blue light spectrum therapy to control the production of the hormone melatonin to suppress contractions, and is being developed in collaboration with scientists and clinicians at Brigham and Women's Hospital, Rennsalaer Polytechnic Institute and the Toronto Centre for Advance Reproductive Therapy.
"Twenty-five percent of all U.S. pregnancies are at risk, and preterm birth is the number one cause of death in newborns," said Don Rosenkoetter, KynderMed President and Chief Executive Officer. "There has been no reduction in the incidence of preterm delivery over the past 40 years. KynderMed will safely and effectively address the unmet needs of 33 million at-risk pregnant women by leveraging exciting new and proprietary insights into the suppression of labor to reduce the tragedies associated with preterm birth."
"KynderMed is reducing the human tragedy and economic burden caused by preterm labor, safely addressing this significant unmet medical need," said Jamie Grooms, Institute Chief Executive Officer. The Institute is pleased support the commercialization of Dr. James Olcese's research and KynderMed's experienced business team as they bring current and future products to market."
About the Institute
Formed by the Florida Legislature in 2007, the Florida Institute for the Commercialization of Public Research is a non-profit organization that works collaboratively with the technology licensing and commercialization offices of Florida's state universities and private research institutions to leverage a $2B+ research base and form investable companies that create clean jobs in new industries that are driving the global economy. Over 100 new company projects have been identified across the state, and the Institute deploys company building and funding programs to promising Florida startups. Forty-six companies have been funded since the program's inception.
KynderMed is a novel startup company harnessing preventative home health care and exciting new medical insights to prevent preterm births and reduce infant deaths. Currently there is no therapy that can effectively and safely address this unmet medical need that results in over one million infant deaths per year. KynderMed's proprietary technology will address the unmet the needs of 33 million atrisk pregnant women.
SOURCE Florida Institute for the Commercialization of Public Research