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News and Information Article
Investment Firm, Allied Minds, Licenses University of New Mexico Technology
BOSTON, Oct. 17 // -- An endometrial cancer detection test
(EndoScreen) under development at the University of New Mexico (UNM) has
recently been infused with a cash injection by Boston firm, Allied Minds.
Allied Minds
Allied Minds, a pre-seed investment firm, specializes in early-stage
technologies derived through university research. Allied Minds business
model targets educational institutions that may be underserved and under
funded when it comes to research and product commercialization. Christopher
Silva, CEO of Allied Minds, says, "Were very excited about the
technologies and research weve seen at UNM. The EndoScreen test is
hopefully the first of many investments at UNM."
Allied Minds will fund the current research team headed by Kimberly
Leslie, M.D., Professor and Chief, Division of Maternal-Fetal Medicine and
Medical Director of the Womens Inpatient Unit up to $750,000. In turn,
Allied Minds has licensed the technology through the Science & Technology
Corporation @ UNM (STC), the technology transfer arm of UNM. A start-up
company will be formed and will reside in the state of New Mexico creating
jobs and influencing economic development.
Although not by any designed strategy, Allied Minds has recently
invested in other technologies that focus on womens healthcare. Silva
says, "Its particularly satisfying to be involved in technologies that
have a socially significant value."
Endometrial Cancer & EndoCare
Endometrial cancer (commonly referred to as uterine cancer) is the most
common gynecological malignancy found in patients and the fourth leading
cause of cancer in women. It has been identified by the National Cancer
Institute as an under-studied cancer. It accounts for 6% of all cancers and
affects approximately 39,000 women per year -- 7,500 of which will succumb
to the disease. Unfortunately, this cancer shows little or no symptoms in
early stages. It is, however, one cancer that is easily treated when
detected early.
"There is a misconception that a Pap smear test detects all forms of
uterine cancer," said Leslie, co-inventor of the EndoScreen technology. "A
screening product, such as EndoScreen, would be much less invasive and
could save womens lives by catching the cancer at an earlier and treatable
stage. It would also be a cost-effective alternative to biopsy for both
patients and healthcare providers.
This agreement is the first step in the commercialization of the
technology. The next steps entail further development and clinical
evaluation, test kit development, FDA approval, and then off to market.
About STC
STC is a nonprofit organization wholly owned by UNM. STC assists in
connecting the business community and UNM -- to protect and transfer
intellectual property and faculty inventions to the commercial marketplace
and to help companies who want to access UNM facilities, expertise, and
research conducted at the University.
More about EndoScreen, please visit: http://www.endoscreen.com
More about Allied Minds, please visit: http://www.alliedminds.com
More about Science & Technology Corporation @ UNM, please visit:
http://stc.unm.edu
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