EDINA, Minn., May 20 /PRNewswire/ -- Orasi Medical, Inc., the provider of novel software technology to diagnose and track the progression of neurological disorders, announced today that the Company was named a winner of the "Red Herring 100 North America" award, a prestigious list honoring the year's most promising private technology ventures in North America.
"We are excited to be recognized by Red Herring, and honored to share this award with some of the most talented and innovative companies in North America," said Orasi CEO, Shawn Lyndon. "This has been a great start to 2009 for Orasi given the recent closing of our Series B financing and the excellent results from our latest Alzheimer's disease and multiple sclerosis clinical trials. We believe that the combination of a software as a service business model coupled with the proprietary technology licensed from the University of Minnesota, positions Orasi Medical for an exciting future assisting pharmaceutical companies to better measure the effect of drugs and aiding clinicians in diagnosing neurological diseases."
Lyndon joined other CEOs from across the country that presented on their respective companies during the conference. A panel of judges made the decision from a range of criteria, including these presentations. Earlier this year, the Red Herring editorial team selected the most innovative companies from a pool of 1,200. The nominees are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries.
This unique assessment of potential is complemented by a review of the actual track record and standing of a company, which allows Red Herring to see past the "buzz" and make the list an invaluable instrument for discovering and advocating the greatest business opportunities in the industry.
For over 10 years, The Red Herring 100 North America award, open to private technology companies headquartered in North America, has been given to the top 100 tech companies based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. During the several months leading up to the announcement, hundreds of companies in the telecom, communications, security, Web 2.0, software, hardware, biotech, and clean tech industries sent in their submissions to qualify for the award. Previous winners include Google, Yahoo!, Skype, SalesForce.com and YouTube.
About Red Herring
Red Herring is a global media company uniting the world's best high technology innovators, venture investors, and business decision-makers in a variety of forums: a leading innovation magazine; an online daily technology news service; technology newsletters, and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation ecosystem, featuring unparalleled insights on the emerging technologies driving the economy.
For more information, visit www.redherring.com
About Orasi Medical, Inc.
Orasi Medical, Inc. is a privately held, early stage medical device company engaged in the development and commercialization of technology to diagnose and track the progression of neurological disorders using electrical brain activity. Orasi has developed a novel, quick, patient-friendly test of brain function that allows accurate assessment of disease progression and the effect of neurological treatments. Orasi collaborates with pharmaceutical companies to provide a robust and reproducible measure of drug mechanism, pharmacodynamics, and efficacy.
For more information, visit www.orasimedical.com
CONTACT: Shawn Lyndon of Orasi Medical, Inc., +1-952-405-2210, ext 100,
Web site: http://www.orasimedical.com/