Blaze Medical Devices recently scored a nice boost in funding, adding a Small Business Innovation Research grant to its bottom line. The Phase 1 SBIR grant is worth $200,000 and will be used to pay for a pre-clinical study of 50 patients. The company hopes to go for a Phase 2 grant worth $175,000 next year.
Blaze Medical Devices is developing blood transfusion technology that enables medical professionals to better control and optimize blood banking and transfusions. Its clinical tests assess the quality of stored blood and its laboratory instruments help facilitate blood research.
"We anticipate to get our first revenue from this service before the end of the year," says Michael Tarasev, COO of Blaze Medical Devices.
Blaze Medical Devices currently employs a staff of five people after adding a researcher over the last year. The company hopes to keep expanding its team as it generates its first revenues next year and pushes its core technology closer to commercialization.
Source: Michael Tarasev, COO of Blaze Medical Devices
Writer: Jon Zemke