MOUNTAIN VIEW, Calif., Dec. 6, 2012 /PRNewswire/ -- The Fogarty Institute for Innovation proudly announced today that PQ Bypass, a resident of the Institute and participant in its Innovator Support Program, has received its Series A financing and will be establishing independent operations in Sunnyvale, Calif., as of January 1, 2013, effectively 'graduating' from the program.
"The goal of the Innovator Support Program is to provide companies like PQ Bypass with access to the physical and intellectual resources that will enable them to cultivate their innovations faster and ultimately reach patients," said Frederick St. Goar, M.D., F.A.C.C., Board member of the Fogarty Institute. "We congratulate PQ Bypass for securing their Series A financing and wish them continued success as they forge ahead."
PQ Bypass has developed a percutaneous approach to achieving a long-lasting, robust bypass in the femoral artery with results that are comparable to surgical bypass, but without the patient morbidity or hospital stay costs.
"Our experience at the Fogarty Institute was second to none; we are beyond grateful for the support we received over these last 2 years," said Richard A. Lotti, president and CEO, PQ Bypass. "We are energized to enter this next stage of our Company's development and would encourage other companies or individuals to consider participating in this program."
For early stage (pre-A-round) medical innovators seeking to participate in the Innovator Support Program, the Institute is currently accepting applications. Selected innovators will house their nascent companies at the Fogarty Institute in Mountain View, CA and will have access to physician and business mentoring, clinical access, laboratory/office space, and financial aid. They will have access to clinical experience and clinical trial management services available through El Camino Hospital and the Institute's Taft Center for Clinical Research.
Eligibility criteria include:
- Unfunded or modestly funded innovators who need support building the technical and/or business validation needed to attract an initial round of financing (typically an "A-round")
- Individuals or small teams
- Innovators who, while they are working on their idea with the support of the Fogarty Institute, are able to work at the Fogarty Institute facility in Mountain View, CA
- Innovators who will significantly benefit from the unique educational resources (e.g. mentoring and clinical access) provided by the Institute
- Innovators whose ideas address a major unmet clinical need, or provide an opportunity to significantly improve an existing treatment method
Applications for the Innovator Support Program are due January 9, 2013, and an application and instructions can be found online at: http://www.fogartyinstitute.org/innovation.html
About The Fogarty Institute for Innovation
The Fogarty Institute for Innovation is 501(c)3 educational non-profit organization that serves to improve patient care by supporting medical innovation. Its educational activities involve teaching the skills and methodology necessary for medical innovators to translate their ideas into new patient therapies. The Institute and its affiliated Taft Center for Clinical Research are located on the campus of El Camino Hospital in Mountain View, Calif. To learn more about our organization, visit www.fogartyinstitute.org.
About El Camino Hospital
El Camino Hospital is an acute-care, 443-bed, not-for-profit and locally governed organization with campuses in Mountain View and Los Gatos, Calif. In addition to state-of-the-art emergency departments, key medical specialties include heart and vascular, cancer care, urology, orthopedic and spine, neuroscience, genomic medicine, and the only Women's Hospital in Northern California. The hospital is recognized as a national leader in the use of health information technology and wireless communications, and has been awarded the Gold Seal of Approval from The Joint Commission as a Primary Stroke Center as well as back-to-back ANCC Magnet Recognitions for Nursing Care. To learn more, visit the El Camino Hospital website, find them on Facebook, follow them on Twitter, or view videos on YouTube. For a physician referral, visit the website or call the El Camino Health Line at 800-216-5556.
SOURCE El Camino Hospital