Triple Ring Technologies Awarded NIH Challenge Grant
Grant for pediatric imaging development one of few awarded to non-academic institutions
From NHLBI Director Elizabeth G. Nabel, M.D.
“In the spirit of the Recovery Act, this research
advances biomedical research while also retaining scientists to develop a
technology with important public health benefits. The imaging system to be
developed
promises to reduce the radiation exposure of children having
cardiac
procedures, thereby potentially lowering their risk of
cancer”
NEWARK, California, October 7, 2009 – Triple Ring Technologies, Inc., a leading provider of early-stage advanced research and development services, today announced that it has been awarded a Challenge Grant from the National Heart, Lung and Blood Institute (NHLBI), a division of the National Institutes of Health (NIH), as part of the American Recovery and Reinvestment Act (ARRA).
The two-year $1 million grant, awarded through a highly competitive process with over 20,000 applications submitted, will fund the development of an X-ray imaging system for pediatric cardiac intervention. The pediatric system is based on ScanCath™ technology originally developed for Triple Ring partner NovaRay Medical and is expected to reduce the radiation dose to children by 75%, as compared to conventional systems.
“Radiation dose in pediatric cardiac interventions is a serious concern, because children exposed to radiation have a far greater likelihood than adults to develop cancer in their lifetime,” said Tobias Funk, PhD, physicist at Triple Ring Technologies and Principal Investigator on the grant. “This project is a great example of Triple Ring’s ability to develop commercial instruments while competing at the forefront of scientific research.”
“We are very pleased that NIH has chosen Triple Ring as one of only a handful of companies to receive a Challenge Grant,” said Joseph Heanue, PhD, President of Triple Ring Technologies. “This award further validates the breadth of our technical capabilities and the experience of our scientists and engineers.”
About Triple Ring Technologies
Triple Ring Technologies, headquartered in Newark, CA, is an
innovative research and development company that partners
with clients to deliver complex technical solutions. Founded
in 2004, Triple Ring’s team of scientists and engineers
provides leading edge, integrated technical design,
engineering, and business services. Clients include
entrepreneurs, established companies, and investors in the
medical device, life sciences, optics, clean technology, and
digital imaging fields.
About NovaRay Medical, Inc.
NovaRay is a medical imaging company focused on developing
unique innovations in proprietary digital cardiac X-ray
technology. NovaRay’s initial clinical offering, the
ScanCath™ cardiac catheterization system, offers advanced,
revolutionary, and breakthrough imaging capabilities,
coupled with reductions in radiation exposure to patients,
operators, and staff. The technology, which is protected by
23 issued U.S. patents, has been validated at the
University of Wisconsin Hospital in Madison.
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For more information, contact:
Joe Heanue
Will Frederick
Triple Ring Technologies
NovaRay Medical, Inc.
(510) 592-3000
(510) 619-9200
www.tripleringtech.com
www.novaraymedical.com
