PITTSBURGH, Aug. 9 /PRNewswire/ -- The Pittsburgh Life Sciences Greenhouse (PLSG), the private/public partnership putting the region's life sciences industry on a fast track for growth, today announced that PLSG has invested $100,000 in RedPath Integrated Pathology, Inc. The company provides specialized cancer diagnostic testing that integrates traditional pathology practice with molecular genetic analysis to improve the diagnosis of disease.
"RedPath's patented platform approach, PathFinderTG(TM), has made tremendous advances in the diagnosis of cancer," said Doros Platika, M.D., the President and Chief Executive Officer of the PLSG. "The company has struck the right balance between pathology, molecular analysis and the information sciences to successfully apply genomic advances in the clinical setting." Dr. Platika, continued, "In two short years, RedPath has gained real traction in the marketplace as evidenced by an ever-increasing number of marquis clients and steady increases in revenues."
RedPath's PathFinderTG is effective at resolving uncertain diagnoses by answering important questions from pathologists and clinicians when standard testing is inconclusive. It has been clinically validated for use in a wide range of specialties, including cancers of the gastrointestinal tract, pancreas, and brain, and it improves patient outcomes by reducing the potential for inappropriate, incomplete or unnecessary treatment.
"RedPath's role in changing tissue analysis from a static to dynamic process has earned us a position within that small but growing class of molecular-based companies that are pushing healthcare closer to personalized medicine," said Mary Del Brady, RedPath's President and Chief Executive Officer. "With the kind of support we have gotten from the PLSG, we are even more confident that we will be able to achieve a series of key goals that will help us to maintain our leadership position."
About the Technology Development Fund (TDF)
The Technology Development Fund is a competitive funding program designed to increase the commercialization potential of life science technologies developed by the region's scientists and entrepreneurs. The intent is to provide financial support to verify the technical and commercial feasibility of early stage inventions that will accelerate and increase the likelihood that the technology will be successfully commercialized through a regional start-up company. These funds can be used in conjunction with or to leverage other early sources of funding.
About RedPath
RedPath Integrated Pathology is a renowned pathology services company founded in 2004 and dedicated to facilitating superior disease diagnosis. It is one of the first commercial laboratories to integrate molecular DNA analysis with traditional pathology, providing early and definitive cancer diagnosis to pathologists, oncologists and clinicians where it would otherwise not exist. For further company details, visit www.redpathip.com.
About the PLSG
The Pittsburgh Life Sciences Greenhouse is a public/private partnership, founded by the University of Pittsburgh, Carnegie Mellon University, UPMC Health System, the Commonwealth of Pennsylvania and its regional foundation community. Together with private industry and advanced research and healthcare capabilities of our institutional partners, PLSG invests in and supports the growth of regional life sciences companies in the areas of: bioinformatics; bionanotechnology; diagnostics; medical devices; medical robotics; therapeutics; and tools and services.
Pittsburgh Life Sciences Greenhouse
CONTACT: Lynn Banaszak Brusco of the Pittsburgh Life Sciences Greenhouse,+1-412-770-1353
