Biosciences firm gets $2 million from state’s Emerging Technology Fund

May 19, 2014
Austin American Statesman

An Austin-based biosciences firm is the recipient of $2 million from the Texas Emerging Technology Fund, the governor’s office said Friday

Alafair Biosciences Inc. said it will use the funds to assist with the commercialization of a technology it has developed — biological film used to protect wounded tissues and assist with healing

“Texas continues to be a leader in innovative life-science technologies that develop products to help improve patient comfort, safety and outcomes,” Texas Gov. Rick Perry said in a statement. “Alafair Biosciences has the potential to prevent and treat problems before they start, and will help strengthen the biotechnology industry that is flourishing across Texas.”

Alafair Biosciences’ patent-pending technology was developed in a laboratory at the University of Texas. It helps prevent post-surgery scarring, which is responsible for $3.45 billion in health care costs each year in the United States, according to the company

“Texas has a burgeoning biotechnology sector, and it is our passion to develop this promising technology into a series of products that will ultimately reduce pain, suffering and complications related to healing after surgical procedures,” Alafair Biosciences CEO Daniel Peterson said. “The Texas Emerging Technology Fund investment will greatly extend our capabilities to refine and develop innovative wound healing products manufactured right here in Texas.”

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