Fayetteville, Arkansas — Sept. 12, 2011–

Gary Campbell (l), Research and Commercialization Committee Chair of the Arkansas Science & Technology Authority, presents seed capital investment checks for Ascendant Diagnostics, BioDetection Instruments, and TiFiber to Dr. Calvin Goforth, President of Virtual Incubation Company.

The Arkansas Science & Technology Authority has teamed up with Virtual Incubation Company (VIC) of Fayetteville to fund the commercialization of promising new technologies developed by Arkansas researchers.

Three VIC portfolio companies were recently presented with a seed capital investment from ASTA to help them translate these innovative technologies into marketable products.

Ascendant Diagnostics™ received a $100,000 investment and is developing a tear-based screening method for the early detection of breast cancer. Not only is this method lower cost, non-invasive and pain-free, but the test is anticipated to be more accurate than mammography, and be able to detect cancer at an earlier, more treatable stage. BioDetection Instruments™ received a $150,000 investment to further develop its Aegis™ 1000 biosensor system. This system can diagnosis disease within 20 minutes instead of the usual 1-3 days it takes when samples must be sent to outside labs. TiFiber™ received a $100,000 investment. The company has a patent pending technology to create nanofiber-based filters that are more durable and effective than currently used filters, and can withstand temperatures up to 2700°F. The material is easily cleaned and has great potential for use in manufacturing, healthcare, and other markets.

“The Arkansas Science & Technology Authority works to support entrepreneurs engaged in creating high paying knowledge-based jobs in Arkansas” said Steve Stanley, Vice President Commercialization. “The three companies receiving state investments will be moving technologies from Arkansas research laboratories into national and international markets. Without insightful and determined entrepreneurs, important technologies might never leave the laboratory. Arkansas owes Virtual Incubation a debt of gratitude for its continued efforts to identify and commercialize promising new technologies.”

“The Arkansas Science & Technology Authority lends their support to new high-technology companies when they need it the most, during the critical startup and expansion periods,” said Calvin Goforth, President and CEO of Virtual Incubation. “Their vision to make Arkansas a significant player in the growth of science and technology-based companies is clear, and we appreciate all of Authority’s efforts to partner with companies like these to advance new discoveries.”

About the Arkansas Science & Technology Authority
The Arkansas Science & Technology Authority invests in innovative technologies to encourage the growth of knowledge-based industries. The goal is to strengthen Arkansas companies’ capacity to innovate, create wealth, expand knowledge-based jobs and compete globally.

For more information about the Arkansas Science and Technology Authority, please visit http://www.asta.arkansas.gov