Purdue University’s https://www.purdue.edu affiliated company PhysIQ https://www.physiq.com has received a $500,000 investment from the Purdue Research Foundation’s Foundry Investment Fund https://www.prf.org.
The Foundry Investment Fund established in 2014, through a partnership between the Purdue Research Foundation and Cook Medical https://www.cookmedical.com, with funds of $12 million, invests in Purdue-based or Purdue-Connected companies commercializing select life science technologies.
The Foundry Investment Fund has invested nearly $5 million in 13 companies in the past five years. The companies have secured capital from venture funds and other institutional and professional investment sources.
The goal is to add critical capital for the transition from the discovery of a promising technology to founding a viable life science company. The funds are partial matching investments made in companies by institutional and other investors.
PhysIQ founded by Gary Conkright, graduate from Purdue’s College of Engineering, develops solutions to improve healthcare outcomes by applying artificial intelligence to real time physiological data from wearable sensors.
PhysIQ’s FDA cleared data analytics platform is designed to process multiple vital signs from wearable sensors to create a personalized dynamic baseline for each individual by mapping vital sign relationships. PhysIQ’s analytics are able to detect subtle deviations that may be a precursor to disease or changes in a person’s health.
The PhysIQ solution provides healthcare specialists with tools to proactively engage at-risk patients and provide pharmaceutical companies with powerful data driven support to demonstrate the efficacy of their products using real-world data.
PhysIQ is going to work with Purdue’s Weldon School of Biomedical Engineering. They are going to explore collaborative opportunities with signal processing and AI-based data analysis from wearable biosensors, as well as data analysis from multiple-axis accelerometers.