DURHAM, N.C. – May 2, 2007 – Oncoscope, Inc., developer of new optical biopsy technology for detecting cancer in its earliest stages, won first place overall and first place in the healthcare division at the 2007 Duke Start-Up Challenge, Duke University’s prestigious entrepreneurship competition.
The two awards earned the company a total of $30,000 in seed capital. The top placement also positions Oncoscope as one of the most promising medical innovations of the year.
Oncoscope is based on a novel method of optical biopsy that uses light signals to analyze cell structure. In laboratory tests, the Oncoscope prototype instantly, painlessly, and accurately assessed the presence of pre-cancerous cells before they had a chance to spread. The method is different than current biopsy procedures which require doctors to remove a tissue sample and perform analysis in a lab.
“These first place awards confirm that Oncoscope has a bright future,” said Dr. William J. Brown, chief operating officer and founder of Oncoscope. “Early detection is the key to treating cancer, and our initial studies show that Oncoscope does this much more effectively than traditional biopsy methods.”
The Oncoscope team, made up entirely of Duke University affiliates, includes Rob Marshall (student, Fuqua School of Business '07), Sylvain Hanssen (student, Master of Engineering Management), Dr. Adam Wax (assistant professor in biomedical engineering and chief technology officer of Oncosope), Hannah Polikov (student, Duke Law), Sharath Beedu (student, Fuqua School of Business '07), Dr. William J. Brown (research scientist in biomedical engineering and chief operating officer of Oncoscope), and John Pyhtila (Ph.D. student, biomedical engineering)
The company’s work to develop optical biopsy systems and obtain FDA 510(k) approval could make the new technology available for patients within three to five years.
About Oncoscope, Inc.:
Oncoscope, Inc. was formed to develop, market, and produce novel optical biopsy systems for detecting pre-cancerous cells which will improve the accuracy of screening procedures while reducing costs and time spent. The company’s product is currently in its first phase of development.
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