Innovation Anthology #309:
Imagine putting a drop of your blood on a tiny drug store device, and minutes later, knowing whether or not you have a serious disease.
That’s the business idea that won Maz Khorasani and his colleagues the 2010 TEC VenturePrize for Fast Growth.
Called Biolithic Corporation, the business will commercialize lab on a chip technology developed at the University of Alberta.
MAZ KHORASANI: Currently what’s done is you have central labs that do all the processing. What we’ve done is basically taken that entire lab and put it on something the size of your fingernail. The raw blood, urine or saliva sample is placed in our device. And within minutes you have results.
As the vice president of business development, Maz Khorasani sees a promising future for Biolithic.
MAZ KHORASANI: The potential is immense. One of the major applications for our device that we are looking at immediately is for STD testing. So sexually transmitted diseases. So a lot of people in the 18 to low 30’s age group, they want to know if they are infected with a potentially infectious, sexually transmitted disease, clamydia, gonnerhea, HIV. What our type of device enables is down the road, people will be able to go to a pharmacy, purchase an over the counter test for an STD and perform it in the comfort of their own home.
Cash and in-kind services from the VenturePrize winnings will help Biolithic get its diagnostic device to market by 2012.
Learn more at InnovationAnthology.com
I’M CHERYL CROUCHER
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Program Date: 2010-04-22