FOR IMMEDIATE RELEASE
Contact: Robert V. Masterson, CEO, Opticyte, Inc.
Email bob@opticyte.com / Tel 206-775-5525
Fluke Hall, Box 352141, 4000 Mason Road, Suite 300, Seattle, WA 98195
Opticyte, Inc. signs license agreement with CoMotion at the University of Washington for development of new CellSatTM 100 cellular oximeter
Seattle, WA (October 1, 2016) – Opticyte, Inc. announces an exclusive license agreement with CoMotion® at the University of Washington for development and commercialization of its new CellSatTM 100, a novel oximetry device to provide cellular oxygen measurement for earlier assessment of shock. Opticyte received a $1M SBIR II grant in August 2016 to fund clinical testing of this new cellular oximeter technology.
“We are excited to be acquiring this technology that has such significant potential for saving lives and reducing overall healthcare costs” said Robert Masterson, CEO of Opticyte. “The UW CoMotion staff has been a great partner in this process — from technology managers providing invaluable introductions and ongoing advice, to excellent patent counsel — helping during each step of the technology licensing process.”
“It has been gratifying working with a seasoned entrepreneur like Robert Masterson as a CoMotion Entrepreneur-in-Residence and now as the CEO of OptiCyte,” said Ryan Buckmaster, senior innovation development manager at CoMotion. “We helped the research team and Robert bridge the gap between research and spin out through support ranging from intellectual property protection, access to expert advice and proof of concept funding.”
Currently, clinicians rely on indirect and relatively slow methods of identifying shock, including changes in vital signs and blood lactate levels. With the real-time and noninvasive CellSatTM, clinicians in the ICU, ED and OR will immediately be alerted to low oxygen levels in cells due to any cause, including microvascular dysfunction, inadequate blood volume or red blood cells, and low oxygen levels in blood. The system utilizes the Opticyte Optic Hand PadTM disposable sensor to convey visible and near infrared light via fiber optics to a spectrometer. Absolute and accurate cellular oxygenation levels are displayed on a screen.
Opticyte incorporated in May 2016 prior to signing the exclusive license agreement. Co- founders include Robert V. Masterson, CEO, and serial entrepreneur including past CEO of Prevencio and Onconome (Tessera Diagnostics); Kenneth A. Schenkman, MD, PhD, and critical care physician at Seattle Children’s Hospital, Lorilee Arakaki, PhD, UW research scientist in optical spectroscopy, and Wayne Ciesielski, UW research scientist.
For more information about Opticyte, please contact bob@opticyte.com or visit the company website www.opticyte.com.
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