SATAI announced today that Seno Medical Instruments has received a $2 million award from the $200 million Texas Emerging Technology Fund (ETF). SATAI is the host of the South Texas Regional Center of Innovation and Commercialization of the ETF and Seno Medical Instruments is a SATAI Portfolio Company.
Seno is developing its opto-acoustic platform technology for cancer imaging and detection. This patented technology will be commercialized to produce real-time color images which allow classification of benign and malignant tumors, such as breast cancer. Seno is on track to provide the most advanced high-quality products for cancer screening, diagnosis and therapeutic treatment that are cost effective and more patient-friendly than existing technologies.
Jim Poage, SATAI’s President and CEO, said "This investment by the State of Texas is terrific for Seno and terrific for the city. Seno is a good example of the solid foundation of the Bexar County technology economy. All of this is strengthened by Seno’s approach to commercializing intellectual property.”
Janet Campbell, Seno’s CEO, said, “We are thankful to the ETF for providing this funding to us. SATAI helped guide and prepare us throughout the process. This funding will help us launch our first commercial product, The Imagio™ pre-clinical research device. I am proud to have Seno be a corporate citizen of San Antonio and to build the medical business base in cancer.”
The ETF was first created by the Texas Legislature in 2005 at Governor Rick Perry’s request. It was reauthorized in 2008 and will award more than $165 million in the next two years. With this recent award, the ETF will have invested over $12 million in San Antonio.
Technology companies interested in pursuing funding from the ETF should contact SATAI at 210-458-2523. As host of the South Texas Regional Center of Innovation and Commercialization, SATAI is responsible for helping companies navigate the ETF process and raise early-stage financing.
About SATAI
SATAI exists to Inspire technology innovation and commercialization, Create technology companies, and Grow them into viable businesses in the San Antonio and Bexar County regional economy. SATAI is also the South Texas portal for the Texas $200M Emerging Technology Fund, and all applications in a 31-county region from Nueces County (Corpus Christi) to Bexar County (San Antonio) go through SATAI. For more information on the San Antonio Technology Accelerator Initiative, visit www.SATAI-network.com. SATAI derives support from the City of San Antonio, the University of Texas at San Antonio, the State of Texas, Bexar County, private companies, individuals and public institutions.
About Seno Medical Instruments, Inc.
Seno Medical Instruments is a San Antonio-based medical device developer focused on the early detection of cancer through the use of its patented opto-acoustic technology. Seno’s experienced management team has been assembled to complete commercialization of the technology. A nationally recognized Scientific Advisory Committee has been established to support this effort.