Cabinet for Economic Development
Gov. Beshear Announces $6.2 Million in Awards to 17 High-Tech Small Businesses

Press Release Date:  Monday, March 19, 2012  
Contact Information:  Mandy Lambert, (502)564-4886  


State program matches federal grants received by Kentucky firms   

 

FRANKFORT, Ky. (March 19, 2012) – Governor Steve Beshear today 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 (SBIR) and Small Business Technology Transfer (STTR) Matching Funds program, Kentucky matches all or part of federal SBIR-STTR awards received by Kentucky-based companies or those willing to relocate operations to Kentucky.

 

“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,” said Gov. Beshear. “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.

The Cabinet for Economic Development manages the Kentucky SBIR-STTR Matching Funds program, which is administered under contract by the Kentucky Science and Technology Corporation (KSTC).

 

Applications for each round of the program are accepted by KSTC on a regular basis. A link to the online guidelines and application form for the Kentucky program are posted at www.ThinkKentucky.com/dci/SBIR.

 

Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky.