November 4, 2010
Contact: Liz Dowling, (800) 386-0157
Dowling & Dennis Public Relations
Novian Health Awarded a $244,479 Qualifying Therapeutic Discovery Project Grant
CHICAGO – Novian Health, developer of Novilase® Breast Therapy, announced that it was awarded a grant of $244,479 under the U.S. Government’s Qualifying Therapeutic Discovery Project (QTDP) program.
QTDP is specifically designed to promote medical research that could improve health and save lives. The program targeted projects in new innovative therapies to prevent, diagnose, and treat acute and chronic diseases. A focus of the program is support of companies that could significantly advance the goal of curing cancer within the next 30 years and have the potential to reduce long-term health care costs in the United States.
“I am pleased that Novilase has been recognized by this program for having the potential to significantly improve breast conservation therapy for women. I am also proud of our team of professionals whose work is at the heart of this recognition and the continuing support of our investor group,” said Chip Appelbaum, Chief Executive Officer of Novian Health.
Companies that received QTDP grants were selected jointly by the Treasury Department and the Department of Health and Human Services. The grants are limited to companies with 250 or fewer employees. The Department of Treasury further allocated the available funds among the most qualified applicants, because the program was substantially oversubscribed.
Novilase is a laser-based device for destroying tumors. This minimally invasive alternative to conventional surgery provides a patient with a safe tumor treatment option while preserving the patient’s options for additional procedures or adjunctive therapies. The procedure is office-based and does not require general anesthetic or a hospital stay. Multiple tumors can be treated during a single procedure. Therapy outcomes can be confirmed using a variety of currently available imaging technologies and other methods. Therapy consists of physician placement of two small gauge needles into the tumor site after local anesthetic followed by initiation of the computer controlled Novilase system. Treatment times vary from 15 to 30 minutes. Additionally, Novian is now engaged in the process of seeking FDA approval that would validate the company’s treatment paradigm of malignant breast tumors. Successful completion of an FDA trial could lead to approval for treating malignant breast tumors.
About Novian Health
Novian Health Inc., located in Chicago, is a privately held company with proprietary technology for the treatment of tumors using Interstitial Laser Therapy (ILT). The company’s minimally invasive Novilase procedure uses parametrically controlled heating for the ablation of breast tumors as an alternative to surgery.
Novian Health has received its first FDA 510(k) market clearance for treating fibroadenomas (benign tumors) of the breast and currently offers Novilase at breast centers around the country that are participating in its ABLATE registry. Approval for treatment of malignant tumors will also be sought. Novilase also has the potential to treat other tumors within the body.
For more information, call (312) 266-7200 or access www.novianhealth.com.