MOUNTAIN VIEW, Calif., Dec. 21, 2010 /PRNewswire/ -- Based on its recent analysis of the surface functionalization technologies market, Frost & Sullivan recognizes Cambridge, Mass.-based Semprus BioSciences with the 2010 Enabling Technology of the Year Award for Surface Functionalization Technologies. The company's Semprus Platform is a high-performance biofunctional surface modification designed to reduce the complications associated with implanted medical devices while improving healthcare cost efficiencies.
"A majority of hospital-acquired infections contracted each year originate with the colonization of bacteria on implantable medical devices, which provide a good surface for bacterial growth," said Frost & Sullivan Research Analyst Prasanna Vadhana. "Owing to the rapid growth in the use of medical device implants and the lack of improved surface technologies, the medical device industry is in dire need of next-generation devices that significantly improve patient outcomes."
To meet this need, Semprus BioSciences has developed the Semprus Platform based on a bioinert, covalently-bonded surface modification that reduces the attachment of bacteria, fungus, platelets and blood proteins to a device.
"Semprus BioSciences' platform is able to adapt to diverse substrates such as polyurethane, silicone and titanium, thus paving the way for next-generation products with improved clinical benefits across the medical spectrum," said Vadhana. "The versatility of this technology creates avenues to address multiple products ranging from contact lenses and orthopedic fixation devices to hernia repair meshes and pacemakers, and many others."
In December 2010, Semprus BioSciences completed an $18 million Series B financing co-led by SR One, the corporate venture capital arm of GlaxoSmithKline, and Foundation Medical Partners (FMP), a national healthcare venture capital investment firm with a strategic relationship with Cleveland Clinic. This funding adds to an $8 million Series A financing round in 2008 that was co-led by 5AM Ventures and Pangaea Ventures, as well as $2.5 million in seed capital raised. Semprus BioSciences has secured global licenses from the Massachusetts Institute of Technology (MIT) and the University of Washington. The company also holds numerous intellectual property filings and grants from the Department of Defense, the National Institutes of Health (NIH) and the National Science Foundation (NSF), for a total of $2.5 million in grant funding since 2008.
Frost & Sullivan's independent technology research confirms that Semprus BioSciences' unique technology platform is the first non-leaching single surface modification designed to simultaneously reduce microbial adhesion and thrombus formation (blood clots) on medical devices with multi-month efficacy. Based on these factors, Frost & Sullivan has selected Semprus BioSciences to receive the 2010 North American Enabling Technology of the Year Award for Surface Functionalization Technologies.
Each year, Frost & Sullivan presents this award to the company that has developed a pioneering technology that not only enhances current products but also enables the development of newer products and applications. The award recognizes the high market acceptance potential of the recipient's technology.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research in order to identify best practices in the industry.
About Semprus BioSciences
Semprus BioSciences is a venture-backed biomedical company headquartered in Cambridge, Massachusetts. The company's innovative, multi-faceted Semprus technology signifies a breakthrough in medical device technology. Semprus' current focus is to develop a vascular access catheter with the first single surface modification that is designed to simultaneously reduce microbial adherence and thrombus accumulation over the life of the device. Visit http://www.semprusbio.com for additional information.
About Frost & Sullivan
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SOURCE Frost & Sullivan