INDIANAPOLIS - August 11, 2006 - Quadraspec, creator of the innovative Bio-CD technology, has selected Indianapolis-based Medivative Technologies as its contract manufacturer.
As a premier solution provider to the Life Sciences industry, Medivative will work with Quadraspec to create products that promise to revolutionize the medical diagnostics industry.
Quadraspec was recently awarded the Techpoint Mira Award for Innovation of the Year, spotlighting the West Lafayette-based company as a rising technology star. Quadraspec's technology's capability is to analyze a drop of blood for more than 1,000 disease indicators in a quick, precise and cost-effective manner.
Medivative has been chosen to manufacture two products which aid in processing biological data from the CDs. The Quadraspec Inspria 250 Sample Processor automatically deposits samples from test tube racks into specific wells on each Bio-CD. The Quadraspec Inspira Reader collects all data (50 million data points) from the Bio-CD in less than two minutes.
Quadraspec's selection of Medivative as its contract manufacturer is an example of how the state's investment in Life Sciences is working for Hoosiers. Quadraspec has received several million dollars in venture capital, from Indiana angel investors and some funds from the Indiana Future Fund, which has allowed the company to accelerate development of its promising new technology. The Indiana Economic Development Corporation has also made Venture Capital Investment Tax Credits available to Quadraspec. By awarding contract manufacturing to Medivative, Quadraspec has chosen to keep that seed money reinvesting itself in Indiana's economy and its citizens.
"Quadraspec is a perfect example of how an entrepreneur-friendly environment can foster rapid generation and growth of life sciences start ups here in Indiana. We have made some very significant strides forward since BioCrossroads was founded in 2002," said David Johnson of BioCrossroads, Indiana's life sciences network of public, private and university institutions.
It's not the first time a leader in the fast-paced Life Sciences arena has chosen Medivative to help get its products to market. Since its inception in 2002, Medivative Technologies has become a premier solution provider, boasting top clients such as Suros Surgical Systems, Optical Dynamics and Beckman-Coulter.
Founded in 2004 by the principal inventors and IN-Vivo Ventures (a management and investment company that greatly accelerates the commercialization of promising research), Quadraspec's mission is to build the diagnostic platforms that make personalized, preventative medicine an everyday reality. Quadraspec's technology is largely based on the pioneering research of David Nolte and Fred Regnier, Purdue University faculty who were able to identify a way to efficiently measure many different protein interactions. Quadraspec is located in the Purdue Research Park.
Medivative assists customers in developing innovative, technologically-advanced products. These have included electro-mechanical laboratory equipment, optical equipment and medical devices - including the Suros Surgical Systems' ATEC Sapphire, the first ever all-in-one console to give radiologists and surgeons the ability to perform a breast biopsy in any of the three primary diagnostic imaging modalities of stereotactic, ultrasound and MRI imaging, using a single biopsy system.
Medivative is a medical device contract manufacturing and engineering service provider to the life sciences community. Its capabilities span the product life cycle from product development to product close-out. Medivative offers product design services, project management, manufacturing process design, pilot production services, supply chain management, final assembly, calibration, testing, packaging, labeling, distribution and continued product support and service. Medivative is registered with the FDA and operates a quality system that is ISO-13485 certified.
Medivative is located at 2950 North Catherwood Drive, Indianapolis, Indiana, 46219. For more information on Medivative, contact Michael Robinson at 545-5383, or visit www.medivative.com