BioPhysics Assay Laboratory, Inc. (BioPAL(TM)) Awarded Fast-Track National Institutes of Health (NIH) SBIR Grant For Magnetic Resonance Angiography
10/19/2005 5:09:04 PM
WORCESTER, Mass.--(BUSINESS WIRE)--Aug. 2, 2005--BioPhysics Assay Laboratory (BioPAL), Inc. announced today that the company was awarded a $925,000 Fast-Track Phase I/II Small Business Innovation Research (SBIR) grant from the National Heart, Lung, and Blood Institute of the National Institutes of Health (NIH). This grant will allow BioPAL to further develop its patent pending gadolinium-based nanocolloid technology as a contrast agent for magnetic resonance angiography (MRA).
Arteriosclerosis is the major cause of human death in the United States. Currently, the standard diagnostic tool for the evaluation of cardiovascular disease is x-ray angiography. This procedure requires inserting a catheter into the arteries of patients and administering a dye to visualize arterial obstruction. In the United States alone, an estimated 3.3 million angiograms are performed annually at a total cost of over $6 billion. Unfortunately, this diagnostic procedure is highly invasive and has a small but significant death and injury rate.