Orlando, FL, April 10, 2012 --(PR.com
)-- Hart Rank Investments today announced that it has formed Med-Pulse and entered into an exclusive licensing agreement with Florida Institute of Technology (FIT). Med-Pulse has been granted an exclusive, worldwide license from Florida Tech for their patented technology of an in-office laser-based Skin Cancer Detection System. The license covers all medical applications of this technology worldwide. The terms of the agreement were not disclosed.
Developed by Kunal Mitra Ph.D., Professor at Florida Tech, the technology enables the development of a laser-based system to be used in doctor’s offices and specialty imaging centers to detect the presence of skin cancer cells in a patient.
“There is a sharp contrast in absorption images of normal cells and cancerous cells which can be detected using the short pulse laser system by measuring the reflected optical signals for the scanned area. The laser-based system can image and display healthy cells reducing the need for costly, painful and time-consuming biopsies,” says Dr. Mitra. “In addition, margins can be determined without further biopsies.”
John Politano, Florida Tech’s Assistant Vice President for Research, commented, “This licensing agreement represents an expansion of our intellectual property surrounding laser technology. We are very pleased to have a successful serial entrepreneurial such as Brian Andrew to develop and commercialize this promising technology for the world’s benefit.”
Brian J. Andrew of Hart Rank says, “The Med-Pulse system will eliminate the need for a patient to have to wait days for biopsy results. It will simultaneously reduce diagnosis time making results available immediately as well as costs to diagnose and the ever-important time if treatment is needed.” Mr. Andrew’s entrepreneurial experience in funding and building companies from the ground up as well as his background in laser and radar based systems provide him a unique advantage in the science, engineering, manufacturing and market launch required of Med-Pulse.
Med-Pulse is an Orlando based company that is developing a laser-based skin cancer detection system. Utilizing their exclusive license of patented technology from Florida Institute of Technology (Florida Tech) as well as the extensive intellectual and continued program research, the company expects to advance today’s method of painful, costly or for some, cost-prohibitive and time-delayed results for detecting skin cancers. The company is in its early stage formation.
About Florida Institute of Technology
Founded at the dawn of the Space Race in 1958, Florida Tech is the only independent, technological university in the Southeast. PayScale.com ranks graduates’ mid-career median salaries in first place among Florida’s universities, and lists Florida Tech among the top 20 universities in the South—both public and private. The university has been named a Barron's Guide “Best Buy” in College Education, designated a Tier One Best National University in U.S. News & World Report, and is one of just nine schools in Florida lauded by the 2012 Fiske Guide to Colleges. The university offers undergraduate, master’s and doctoral programs. Fields of study include science, engineering, aeronautics, business, humanities, mathematics, psychology, communication and education. Additional information is available online at www.fit.edu.
About Hart Rank Associates
Hart Rank Associates (HRA) represents private investment funds with the prime directive to seek out leading-edge technologies that will deliver key market advantages. The company has a global reach for both technology acquisition and business incubation. HRA seeks out and assesses new technologies, analyzes business plans, determines market applicability and represents its private investment interests via board and company positions. They work with universities, government contractors, laboratories, think tanks and entrepreneurs from around the globe to acquire technologically advanced components, products or services that will deliver market-dominating companies. To learn more about Hart Rank, please visit www.HartRank.com.