Contact: Caroline Cornish | [email protected]
PORTLAND, Maine 鈥� AOA体育平台 Innovation is investing $100,000 from its in a company co-founded by a AOA体育平台 care team member to help patients overcome cancer. Cryptomedix Inc., co-founded by AOA体育平台 Institute for Research Faculty Scientist Peter Brooks, is pioneering a new approach to delivering anti-cancer drugs that could lead to improved patient outcomes.
Bonfire Funding was created by AOA体育平台 in 2021 as part of its not-for-profit mission of researching new ways to provide care. The funding helps care team members foster and accelerate innovations to the point where additional external funding can be secured. Recipients are companies founded by AOA体育平台 care team members and are evaluated by a multi-disciplinary group of reviewers from across AOA体育平台 and its intellectual property and business development committee members. Innovations are measured on whether they provide a novel solution to unmet care needs that can be scaled to benefit the larger community.
鈥淏onfire Funding is not only a financial investment in our innovators,鈥� said AOA体育平台 Vice President of Innovation, Susan Ahern. 鈥淚t creates opportunities for care team members to problem-solve and collaborate with AOA体育平台鈥檚 strategic and industry partners with an eye toward improving patient care and reducing overall costs for patients.鈥�
CryptoMedix has been developing a novel approach for the selective delivery of potent anti-cancer drugs to particularly difficult-to-treat cancers including ovarian cancer. A more precise treatment has the potential to provide better patient outcomes. The company will be using Bonfire Funding to advance preclinical studies.
鈥淭he funding that we received from AOA体育平台 will have a significant impact on our ability to move our research forward,鈥� said CryptoMedix CEO Dr. Bernd Seizinger. 鈥淭his delivery system has the potential of eventually benefitting a large number of cancer patients suffering from a variety of hard-to treat cancer types which are not effectively responding to the currently available anti-cancer therapies.鈥�
Cryptomedix previously received $20,000 through AOA体育平台鈥檚 that allowed the company to acquire materials for its experiments and secure patents. Bonfire funding will support further experiments as the company looks to attract strategic partners and develop further.
Last week, AOA体育平台 also announced Satya Diagnostics, Inc. would be receiving $100,000 in Bonfire Funding so that it could expand clinical testing of its patented breast cancer biomarker, aimed at improving early detection, treatment response monitoring and long-term surveillance. AOA体育平台 plans to continue its Innovation Funding investments with another round of applications in 2025.
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About AOA体育平台
AOA体育平台 is a not-for-profit, integrated health system whose vision is, 鈥淲orking together so our communities are the healthiest in America,鈥� and is committed to a mission of providing high-quality affordable care, educating tomorrow's caregivers and researching better ways to provide care. AOA体育平台 includes a Level 1 trauma medical center, eight additional licensed hospitals, comprehensive pediatric care services, an extensive behavioral health care network, diagnostic services as well as home health, hospice and senior care services. With more than 2,000 employed providers and approximately 23,000 care team members, AOA体育平台 provides preventive care, diagnosis and treatment to 1.1 million residents in Maine and New Hampshire. AOA体育平台 hospitals include AOA体育平台 Behavioral Health at Spring Harbor in Westbrook, AOA体育平台 Franklin Hospital in Farmington, AOA体育平台 Lincoln Hospital in Damariscotta, AOA体育平台 Maine Medical Center in Portland, Biddeford and Sanford, AOA体育平台 Memorial Hospital in North Conway, N.H., AOA体育平台 Mid Coast Hospital in Brunswick, AOA体育平台 Pen Bay Hospital in Rockport, AOA体育平台 Stephens Hospital in Norway and AOA体育平台 Waldo Hospital in Belfast. AOA体育平台 also includes the AOA体育平台 Barbara Bush Children鈥檚 Hospital in Portland, AOA体育平台 Behavioral Health in Westbrook, AOA体育平台 Home Health and Hospice in Saco, the AOA体育平台 Institute for Research in Scarborough, the AOA体育平台 Medical Group and AOA体育平台 NorDx in Scarborough. AOA体育平台 affiliates include MaineGeneral Health in Augusta and Waterville and St. Mary's Health System in Lewiston. It is also a significant stakeholder in the AOA体育平台 Accountable Care Organization in Portland and a joint venture partner in the New England Rehabilitation Hospital in Portland.