Austin, TX (PRWEB) April 25, 2011
The Austin Technology Incubator (ATI), a nonprofit unit of The University of Texas at Austin, announced today that NanoLite Systems, Inc. has joined as a new member company of the ATI Bioscience Incubator.
NanoLite Systems is an early stage medical device company developing an innovative micro-imaging platform for real-time pathology. This new technology will enable the development and commercialization of a portfolio of micro-imaging and sensing devices for real-time cancer diagnostics, surgical guidance and treatment monitoring. The system will allow surgeons and pathologists to review advanced tissue images during surgery, examine margin tissues and make real-time treatment decisions to potentially improve quality of care and enhance the effectiveness of cancer surgery.
NanoLite Systems Co-founder and CEO, Dr. Ting Shen, said, "ATI has an impressive track record of helping startups accelerate their growth and NanoLite Systems is at a critical point to capture the market opportunity and build our presence quickly. The strategic advice and support from ATI, especially the ATI Directors Isaac Barchas and Dr. Cindy WalkerPeach, will be very important to our growth ahead, and has already proven to be invaluable."
NanoLite Systems was formed as a spinoff from the University of Texas at Austin, licensing micro-chip technology from UT Austin in 2010. NanoLite Systems received a National Science Foundation SBIR Award and a Medical Devices Grant from National Instruments within the first year of operation.
"We are pleased to have NanoLite Systems as an ATI member company", said Dr. Cindy WalkerPeach, Director of ATI Bioscience Incubator. "Real-time pathology measurements, performed inter-operatively, represent a true clinical need and we believe NanoLite System's platform technology will be highly impactful to oncology and other medical practices."
About the Austin Technology Incubator
The Austin Technology Incubator is a nonprofit unit of The University of Texas at Austin that harnesses business, government and academic resources to provide strategic counsel, operational guidance and infrastructure support to its member companies to help them transition from early stage ventures to successful technology businesses. Since its founding in 1989, ATI has worked with over 200 companies, helping raise close to $750 million in investor capital. ATI is a key program of the IC2 Institute at UT Austin. For more information, visit http://www.ati.utexas.edu.
About NanoLite Systems, Inc.
NanoLite Systems is an early stage medical devices company developing an innovative micro-imaging platform for real-time pathology. NanoLite Systems has an experienced team, including Dr. Ting Shen, Co-founder and CEO, who received her Ph.D. from Stanford University, and has had business leadership experience with Cisco Systems and leading management consulting firm McKinsey & Company. The technology was licensed from a UT laboratory directed under Dr. John X.J. Zhang, who is a tenured Associate Professor at UT Austin, Biomedical Engineering Department, and has received numerous awards and grants from NSF, NIH, DARPA and other agencies. For more information, visit http://www.nanolitesystems.com.
CEO of NanoLite Systems, Inc.
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