ATLANTA, GA--(Marketwire - November 05, 2010) -
Medical device company Atlanta Catheter Therapies, Inc. (ACT) has received a grant for almost $250,000 through the Qualifying Therapeutic Discovery Project (QTDP) under the Patient Protection and Affordable Care Act of 2010. A total of $1 billion has been allocated to support biomedical research by small firms.
QTDP was established as a tax credit targeted to therapeutic discovery projects that show the greatest potential to create and sustain high-quality, high-paying U.S. jobs and to advance U.S. competitiveness in life, biological and medical sciences. Early-stage companies such as ACT that are not yet profitable can receive a grant instead of a tax credit.
As part of the review process for research projects, the Department of Health and Human Services (HHS) evaluates each project for its potential to produce new therapies, address unmet medical needs, reduce health care costs or advance the goal of curing cancer. Only projects that show a reasonable potential to meet one or more of these goals is certified as eligible for the credit. Qualifying firms must have 250 or fewer employees.
ACT is focused on developing innovative catheter technologies for the treatment of vascular disease and restenosis. ACT's lead product, a game-changing catheter that integrates drug delivery with vascular catheterization, has completed prototyping and is entering the pre-clinical testing phase.
The Occlusion Perfusion Catheter™ (OPC) follows the same guide wire used by a debulking catheter to deliver anti-restenosis agents or drugs and other therapies directly and precisely to the treatment site. Once a blocked vessel has been cleared, clinicians will use the OPC to immediately infuse that section of vessel with a treatment agent or live cells. The Company believes that direct delivery to the media of the cleared vessel section will demonstrate an advantage over drug-eluting stents in reducing or eliminating restenosis (re-blockage).
In addition to the OPC, the company is attacking the problem of vascular disease by developing leading-edge technology for atherectomy, thrombectomy and other catheter-based devices. ACT currently has seven devices in its product development pipeline, including the OPC.
About Atlanta Catheter Therapies
Atlanta Catheter Therapies is an early-stage research and development medical device company with an innovative, targeted portfolio of catheter technologies for the treatment of vascular disease and restenosis. Learn more: www.atlcath.com.