Beacon Biomedical Inc. Wins Arizona Commerce Authority's latest AZ Innovation Challenge

Will receive up to $250,000 to make cancer screening easy, accurate and affordable
By: Beacon Biomedical
 
Beacon Biomedical
Beacon Biomedical
PHOENIX - Dec. 28, 2015 - PRLog -- Beacon Biomedical, Inc., a privately held company focused on developing patient friendly cancer screening tests was among 6 innovative companies named as the winners in the Arizona Commerce Authority’s Fall 2015 round of the Arizona Innovation Challenge. The biannual business plan competition doles out $3 million in grants a year for promising early-stage companies in high-growth industries.

Winning companies receive up to $250,000 each in capital to grow their businesses, with the goal to advance innovation and technology commercialization opportunities in the state.

“The Arizona Commerce Authority is proud to provide ongoing support to our state’s vibrant entrepreneurial ecosystem,” Arizona Commerce Authority President and CEO Sandra Watson said in a statement. “Advancing innovative technologies is key to Arizona’s competitiveness and success in the global economy. Congratulations to all of the Fall 2015 winners. We look forward to your continued success.”

Don Weber, Beacon Biomedical’s CEO commented that, “We are both elated and appreciative of being a finalist for this Fall’s Arizona Innovation Challenge.  This grant from the Arizona Commerce Authority not only validates our business model but also provides us with the needed funds to help us advance our blood tests under development for earlier colorectal and breast cancer detection to that next level of commercialization.”

The company recently announced a grant from the National Institutes of Health (NIH) and an investment from Hyalescent Ventures.

About Beacon Biomedical, Inc.

Beacon Biomedical, Inc. is a privately held assay development and medical device company focused on developing and commercializing easy, accurate and affordable colorectal, breast and lung cancer screening solutions.  Beacon has secured the exclusive worldwide rights from the NIH for the detection and quantification of a signaling protein called Cripto-1 (also known as teratocarcinoma derived growth factor-1) that has demonstrated the ability in multiple independent studies to differentiate colorectal cancer (CRC) from healthy controls at greater than 95% accuracy in blood-based samples. Additional information about Beacon Biomedical is available at www.beaconbiomedical.com.

About Arizona Innovation Challenge (AIC)

The AIC is a bi-annual business plan competition that awards qualified, innovative start-ups and early stage companies, up to $250,000 in grant funding capital to grow their businesses – ultimately advancing innovation and technology commercialization opportunities in Arizona. The ACA commits $3 million annually to the Arizona Innovation Challenge — $1.5 million awarded in both the spring and the fall. Companies receiving awards will be required to commercialize their technology in Arizona and generate revenue within the following 12 months. For more on the Arizona Innovation Challenge, visit azinnovationchallenge.com.

About the Arizona Commerce Authority

The Arizona Commerce Authority (ACA) is the state’s leading economic development organization with a streamlined mission to grow and strengthen Arizona’s economy. The ACA uses a three-pronged approach to advance the overall economy: recruit, grow, create – recruit out-of-state companies to expand their operations in Arizona; work with existing companies to grow their business in Arizona and beyond; and partner with entrepreneurs and companies large and small to create new jobs and businesses in targeted industries. Visit azcommerce.com for more information.

Contact
Scott Kelly
Black Dog Promotions
scott@blackdogpromotions.com
480-206-3435

Photo:
https://www.prlog.org/12521023/1
End
Source:Beacon Biomedical
Email:***@blackdogpromotions.com Email Verified
Tags:Cancer, Biotech
Industry:Biotech, Deals
Location:Phoenix - Arizona - United States
Subject:Awards
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse



Like PRLog?
9K2K1K
Click to Share