Pittsburgh biomed company awarded $500,000 state grant for device trials

Pittsburgh-based Noveome Biotherapeutics was awarded $500,000 by the Commonwealth of Pennsylvania to fund clinical trials to tackle untreatable back of eye conditions including glaucoma and brain diseases including chronic traumatic encephalopathy (CTE), which has drawn national attention to the effects of concussions on athletes. The company will be conducting the trials in collaboration with Israeli company, SipNose. According to Noveome, current treatments slow the nerve damage from glaucoma, but don’t prevent it. And there is currently no treatment available for CTE.

William J. Golden, Chairman and CEO of Noveome says the companies’ combined products “represent a revolutionary approach to non-invasively treat currently untreatable medical conditions.”

Pittsburgh has been busy with Inclusive Innovation Week

With “If it’s not for all, it’s not for us” from Mayor Bill Peduto as its rallying cry, Pittsburgh kicked off Inclusive Innovation Week 2018. The Pittsburgh technology community is playing a large part by providing venues and speakers, and helping with the promotion.

As the name suggests, Inclusive Innovation Week is a way to create welcoming and inclusive experiences that are part of Pittsburgh’s DNA — and it happens that it shows off the growing tech community here in the process. Although the week includes various traditional activities, it also offers innovative sessions on energy, renewability, STEM (Science, Technology, Engineering and Math) and computer recycling. The effort is a collaboration between the City of Pittsburgh, Urban Redevelopment Authority and several local foundations. #weinnovatepgh

The Twittersphere took note of Inclusive Innovation Week.

New source for micro-loans up to $20,000

Before the tech surge, Pittsburgh was a difficult place to raise money to launch businesses. Leveraging the opportunity to share good news during Inclusive Innovation Week, Mayor Peduto announced the Pittsburgh Micro Loan Program for Entrepreneurs. The city says they’ll cover up to 90 percent of the project cost with loans of $5,000 to $20,000 at two percent interest. The funds come from an existing URA pool of dollars which previously had been used for larger projects — typically $50,000 to $60,000 — which often carry interest rates of more than four percent. These loans are available to a variety of business types.

Peduto’s announcement of the Micro Loan Program could bring opportunities for smaller tech companies.

 

Upcoming business, career and networking events

CMU / K&L Gates Conference on Ethics and AI
April 9 and 10 at Carnegie Mellon University

HR Before You Need It
Tuesday, April 10, 5:30 to 7 p.m. at Ascender

OAMAs (Outstanding Achievement in Media Awards)
Friday, April 13, 6 p.m. at LeMont Restaurant