Business and the Economy
High-Tech Businesses Awarded Funds
Gov. Steve Beshear Monday announced 17 high-tech Kentucky companies will share $6.2 million in state funds as part of a program to support and attract technology-based small businesses. Through the state’s competitive Small Business Innovation Research and Small Business Technology Transfer Matching Funds program, Kentucky matches all or part of federal awards received by Kentucky-based companies or those willing to relocate operations to Kentucky, according to a press release from the governor's office.
“These 17 companies are developing some of the nation’s most promising new technologies, as recognized by experts on both the federal and state levels,” Beshear said. “From finding cancer treatments, to combating Alzheimer’s disease, to helping develop long-lasting batteries for electric vehicles, Kentucky is proud to help support these innovators and entrepreneurs who are helping create high-tech businesses and high-paying jobs throughout the Commonwealth.”
The companies and research initiatives receiving the awards include the following:
3H Company LLC, of Lexington, was awarded $232,212 to support the development of technology to capture and store carbon dioxide underground that can help reduce greenhouse gas emissions from coal-fired power plants. The company’s novel absorbent also helps reduce energy loss during the coal capture process. www.3hcompany.com
Advanced Genomic Technologies LLC, of Louisville, was awarded $500,000 to help develop laboratory animal models that can be used to pattern sporadic Alzheimer’s disease in humans. www.advancedgenomictechnology.com
AllTranz Inc., of Lexington, was awarded $150,000 to develop innovative pharmaceutical products delivered via unique dermal solutions to treat a variety of neurological disorders. www.alltranz.com
Amelgo LLC, of Covington, was awarded $100,000 to support the development of effective non-antibiotic dry-off agents for the dairy industry to help reduce the number and severity of disease outbreaks in cows.
AMT nano LLC, of Lexington, was awarded $90,000 to assist in developing multi-functional micro robots, using a common manufacturing platform, for use in medical devices and aerospace and defense applications, as well as other micro-electrical mechanical system projects. www.amtnano.com
ATI Inc., of Lexington, was awarded $98,748 to help develop aluminum alloy weld wire that could be used in products ranging from armored military vehicles to commercial lightweight bikes. The company specializes in aluminum alloys and products for aerospace and defense applications.
Bexion Pharmaceuticals Inc., of Covington, was awarded $500,000 to support further development of BXQ-350 for glioblastoma multiforme (GBM), one of the most common and aggressive brain cancers in humans. BXQ-350 has shown to be effective against GBM in preclinical trials, as well as against pancreatic cancer and neuroblastomas. www.bexionpharma.com
customKYnetics Inc., of Versailles, was awarded $494,458 to help develop an electrical stimulation device for use by individuals undergoing orthopedic rehabilitation and those with neuromotor disorders due to spinal cord injury or stroke.www.customkynetics.com
Invenio Therapeutics Inc., of Lexington, was awarded $434,480 to facilitate the development of a therapy for patients who have acute myeloid leukemia that offers higher potency, lower toxicity and fewer side effects than current treatments.
NaugaNeedles LLC, of Louisville, was awarded $500,000 to support the development of high-aspect-ratio atomic force microscopy probes that could advance and accelerate the pace of research and discovery in areas including nanomanipulation, biophysical probing, nanomechanics, nanoelectronics and metrology. www.nauganeedles.com
nGimat, of Lexington, won two awards totaling $750,754 to help develop advanced energy storage nanomaterials for use in advanced lithium-ion automotive batteries for electric vehicles, as well as in energy storage components for the emerging electrical smart-grid. www.ngimat.com
Orthopeutics LP, of Lexington, was awarded $359,400 to develop and commercialize nonsurgical solutions for common orthopedic problems via injection to treat degenerative disc disease and repair damaged tendons and ligaments.www.orthopeutics.com
ParaTechs Corporation, of Lexington, was awarded $459,478 to further develop and commercialize a non-surgical assisted-reproductive technology for mice used in biotechnology discovery and development. www.paratechs.com
Regenerex, of Louisville, was awarded $500,000 for further development of a well-defined bone marrow cell processing procedure to help induce patient tolerance following kidney transplantation. www.regenerex.com
Tier1 Performance Solutions Inc., of Covington, was awarded $396,000 to assist in the development of human factors analysis software that will support a variety of NASA design projects such as space vehicles, mission control centers and flight deck systems. www.tier1performance.com
Transposagen Biopharmaceuticals Inc., of Lexington, was awarded $500,000 to help develop a method to create mutations in the genome of laboratory rats that can produce models that mimic human diseases in studies to develop new therapies. www.transposagenbio.com
W-Z BioTech LLC, of Lexington, was awarded $150,000 to support the development of a minimally invasive double lumen cannula apparatus (a non-surgical medical device) to manage heart failure in congenital heart defect patients.