Ohio State University (OSU) spin-out Core Quantum Technologies (CQT) has raised a third of its $750k commercialisation target.
The nanopartical manufacturer is developing a product called MultiDot which the firm plans to use in medical diagnosis, imaging, and research.
$100k came from the Ohio Third Frontier Technology and Validation Startup Fund, with a further $150k provided by way of a Small Business Innovation Research grant from the US’ National Science Foundation.
Ted Greene, chief executive at CQT, said: “The MagDot and MultiDot represent the next generation of fluorescent markers for the research and diagnostic market. The market for Core Quantum Technologies is growing over 30% per year and we are well positioned to become a leader in the market.”
Brian Cummings, vice president of OSU’s tech transfer unit, added: “They are moving very quickly to first sales and should be ready in a few months to launch a first product. Since this is a platform technology they have a lot of industry segments to pursue so maintaining a focus is critical to their success.