Galveston-based Noninvasix won for its fetal probe which monitors a baby’s brain oxygen levels to reduce the risk of severe neonatal morbidity. They won $50,000 from Texas New Ventures and a second top prize of $50,000 from the Research Valley Partnership.
Noninvasix was chosen as one of 19 Texas-based companies to compete for top prize out of 91 eligible companies.
HOUSTON, TX – May 29, 2015 – Medical device startup Noninvasix, Inc., developing a novel fetal welfare monitoring system to detect cerebral venous oxygenation levels during late-stage labor, took home two first place prizes at the inaugural Texas New Ventures Competition. Noninvasix was awarded $50,000 for winning the Texas New Ventures Competition and another $50,000 from the Research Valley Partnership.
Led by Texas A&M University System and the Research Valley Partnership, 20 Texas-based companies with promising technology were accepted to give 10-minute business plan presentations to a panel of esteemed judges.
During the event, the Research Valley Partnership announced it would add $95,000 in prize money for the top three companies.
Having completed its third generation clinical prototype, tested it in fetuses and neonates, Noninvasix will use the prize to help fund an aggressive expansion of its patent portfolio.
“This award validates the need for new innovation to improve outcomes for all stakeholders,” said Noninvasix CEO Graham Randall, Ph.D. “Obstetricians and hospitals are under pressure as cesarean section rates continue to be above the World Health Organization’s standard and total malpractice claims in obstetrics are the highest of any medical practice.”
Unlike ineffective fetal heart rate sensors, Noninvasix’s probe uses direct, real-time monitoring of cerebral venous oxygenation in the fetus’ superior sagittal sinus to determine the baby’s welfare. By rapidly and accurately detecting the amount of oxygen a baby is receiving during labor and delivery, the company aims to reduce the incidents of unnecessary cesarean sections and the risk of severe neonatal morbidity including cerebral palsy and malpractice lawsuits.
With a total prize pool of more than $150,000 in unrestricted, equity-free cash, the competition served to promote the commercialization of promising technology emerging in Texas.
For more, visit www.texasnvc.org
ABOUT NONINVASIX, INC.
Using patented optoacoustic technology, Galveston, Texas-based Noninvasix, Inc. has developed a solution for the safe, accurate and non-invasive monitoring of fetal welfare during labor and delivery. Noninvasix is undertaking to significantly improve outcomes for mother and baby during labor, while reducing malpractice lawsuits and premiums, is backed by 15 years of optoacoustic research and more than $6.5 million in research grants.
For more information, visit www.noninvasix.com