Tucson-based Salutaris Medical Devices is among six early-stage companies to win grants of up to $250,000 in spring 2016 round of the Arizona Innovation Challenge, a competitive grant program sponsored by the Arizona Commerce Authority.
Salutaris — the only Southern Arizona company among the spring finalists — has developed a fast, minimally invasive instrument for delivering radiation to the eye to treat wet age-related macular degeneration, and a radiation source for such treatments.
The technology was invented by Russell Hamilton, a University of Arizona associate professor of radiation oncology.
Up to $250,000 is granted to each recipient to commercialize their technologies and grow their businesses, with grant money released as each company reaches specific business milestones over a year.
Dr. Laurence Marsteller, CEO of SalutarisMD, said the company plans to use the award funds to help prepare and hire staff for sales in the European Union.
People are also reading…
The Commerce Authority provides $3 million in grants annually — $1.5 million in the spring and $1.5 million in the fall — to startups and early-stage companies.
The other five awardees are from the Phoenix area: Allbound, a Phoenix software company; Chandler-based AniCell BioTech; Clean Router of Gilbert; MWI Laboratories, a Tempe firm specializing in testing of materials used in electronics; and SMART Brain Aging, a Phoenix company focused on treatments for dementia.
Past Tucson-area awardees include R-Bar Energy, NuvOx Pharma and Triton Mictrotechnologies.
