Home » Kentucky Awards $4.2 million to 14 Technology-Based Businesses

Kentucky Awards $4.2 million to 14 Technology-Based Businesses

By wmadministrator

Fourteen Kentucky companies have been selected to share more then $4.22 million in state funding as part of a Kentucky initiative to attract and support technology-based small businesses.

Through the state’s SBIR-STTR (Small Business Innovation Research/Small Business Technology Transfer) Matching Funds program, Kentucky matches federal SBIR-STTR awards received by Kentucky companies and those willing to relocate to Kentucky. The eighth and ninth rounds of the state awards supplement more than $8.7 million in federal funding the recipient firms have brought to Kentucky.

Kentucky is the first and only state to provide funding to specifically match both phases of the federal program: up to $150,000 to match Phase 1 federal awards and up to $500,000 per year to match Phase 2 federal awards.

The companies awarded grants in the most recent round of funding include:

• CustomKYnetics Inc. (Versailles) is developing an electrical stimulation device for orthopedic rehabilitation and neuromotor disorders.

• MC3 Inc. (Ann Arbor, Mich.) will establish operations in Kentucky under the name Exatherm to develop a medical device that can selectively kill cancer cells and enhance chemotherapy drugs.

• InfoBeyond Technology LLC (Louisville) is developing a means of increasing the network capacity of airborne fighter systems.

• NuForm Materials LLC (Sadieville) is developing polyurethane foam insulating materials containing ceramics derived from coal ash.
• Paratechs Corp. (Lexington) is developing a device to facilitate a non-surgical assisted-reproductive procedure for lab animals.

• SureGene LLC (Louisville) is developing a genetic test to predict the efficacy of neuropsychiatric treatments.

• Transposagen Biopharmaceuticals Inc. (Lexington) is developing a method of completely removing the genome of laboratory rats to better mimic human diseases.

• Advanced Energy Materials LLC
(Louisville) is developing nanomaterials for use in automotive batteries, large-scale lithium ion batteries, solar cells and other photocatalyst applications.

• Alcomed Inc. (Lexington) is developing a nasally delivered pharmaceutical for the emergency treatment of patients experiencing an opioid overdose.
• Bexion Pharmaceuticals LLC (Covington) is developing a new treatment to target a common and aggressive type of brain tumor.

• Alkymos Inc. (Lexington) is developing a method of preventing aluminum contamination in an IV fluid used to feed premature infants.

• Global Quality Corp. (Cincinnati) is relocating to northern Kentucky and is developing a software-based system to warn of contaminated drinking water.

• Louisville Biosciences Inc. (Louisville) is developing a diagnostic test to help detect autoimmune diseases.

• Scout Diagnostics LLC (Lexington) is developing a laboratory test to detect Alzheimer’s disease in its earliest form.