The Texas Emerging Technology Fund (TETF) has awarded two early stage companies funding to further develop and commercialize groundbreaking technologies. One of the companies, Telemedicine Up Close a Frisco-based company operating as DxUpClose Inc. received $280,000 for up to $1.5 million to commercialize a rapid and low cost bacteria diagnostic kit that would be able to identify bacterial infections and determine optimal antibiotic treatment.
The technology will be capable of screening for specific bacteria, count the bacteria, and perform antibiotic susceptibility tests against the bacteria all within sixty minutes. At the end of the test, the device will securely send a list of effective antibiotics to the healthcare worker’s email or smartphone. At this point, the results could be rapidly interpreted by a physician who can either write a prescription or e-prescribe the appropriate antibiotic.
The device weighs less than sixteen ounces, fits in a pocket, and runs on batteries while still retaining its diagnostic reliability. The core technology is based on electronic sensors and is covered by an issued patent which is supported by other provisional patents. The technology is targeted to physicians, but other customers that could benefit from using the device are extended stay facilities and home healthcare service providers.
DxUpClose plans to expand the product portfolio over time and across a wide range of infectious diseases and their associated antimicrobial therapeutics. The company is going to collaborate with Texas A&M University and Texas State University on the technology plus the company is working with Seton Healthcare Networks, a healthcare provider serving rural Texas.
The other award went to HydroLogic Industries for $340,000 for up to $1 million to use the funding to develop a water purification system that separates pure water from salt, hydrocarbons, and other substances to produce potable water at competitive prices.
TETF at www.emergingtechfund.com is a $200 million initiative created by the Texas legislature at the governor’s request. The 17 members on the advisory committee include high tech leaders, entrepreneurs, and research experts that review potential projects and recommend funding allocations to the governor.
To date, the TETF has allocated more than $203 million in funds to 142 early stage companies and over $216 million in grant matching and research funds to Texas universities. In addition, more than $761 million has come from additional investments from other non-state sources.
For more information, go to www.dxupclose.com.