November was a very good month for
Advanced Cooling Therapy.
The Kalamazoo-based medical device company received a $150,000 Small Business Innovation Research grant from the
National Institutes of Health.
The company also won $25,000 in the medical devices sector of the Accelerate Michigan Innovation Competition for its development of devices to solve problems healthcare providers face in controlling patients' temperatures. To qualify for the Accelerate Michigan Innovation Competition prize monies, businesses must make a commitment to locate and grow in Michigan.
Advanced Cooling Therapy also became a partner in Novenber with
Michigan Medical Device Accelerator, a virtual incubator in Southwest Michigan that assists companies as they move through developing an idea into a medical product and bringing it to market. WMU Business Technology and Research Park, Southwest Michigan Innovation Center, Southwest Michigan First, and Southwest Michigan First Life Science Fund all are partners in the Michigan Medical Device Accelerator.
The company has developed patent-pending biomedical devices that induce mild therapeutic hypothermia, help maintain normal body temperatures and reduce fever in patients after cardiac arrest, during surgery, and in an intensive care unit.
The company says its devices are easier to use than existing methods, have been shown to double patients' survival, and cost less than half the cost of competitors. Unlike other temperature controlling technologies that go either on the surface or through the vein, ACT's system goes through the esophagus.
The U.S. market for temperature management is made up of 5,000 hospitals treating up to 1 million cardiac arrest patients, 3 million ICU patients, and 10 million surgery patients annually, the company says. It estimates that is a $1 billion annual market, growing at more than 15 percent per year.
Writer: Kathy Jennings, Second Wave
Source: Advanced Cooling Therapy
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.