Florida Institute finalizes funding agreement with Aviana

The Florida Institute for the Commercialization of Public Research (the Institute) announced today that it has finalized a funding agreement with Aviana Molecular Technologies (AMT), an Orlando-based company with technology developed at the University of Central Florida. Aviana is developing a smartphone-enabled platform for first-level point-of-care diagnostics, allowing rapid detection of infections by anyone, anywhere. The Institute supports new company creation based on publicly-funded research, and bridges early funding gaps for companies spinning out of Florida-based universities and research institutions.

Aviana's diagnostic device detects infectious agents rapidly at the point of care. Its biosensors platform can identify the presence of bacteria or virus in various biological fluids and complex mixtures loaded onto a cartridge containing the Company's proprietary sensors. The uniqueness of Aviana's technology is its universal ability to be used with existing smartphones and other computing platforms, leading to an end system that includes a single-use, disposable biosensor cartridge. Combined with a reusable portable detection reader, the system may be used in any healthcare setting or eventually as a personal device.

"Aviana believes that its technology can provide affordable diagnostics in a connected world with rapid detection of specific infections within 15 to 20 minutes," said Vanaja V. Ragavan, MD, Aviana's President and Chief Executive Officer. "Such rapid and efficient diagnosis of infections can help in treatment and spread of diseases."

"Aviana's technology is simple, adaptable, and can be useful in reducing the spread of infections," said Jamie Grooms, Institute Chief Executive Officer. "Conceptually, it can be developed to be used in both highly sophisticated health systems but also in resource-limited environments, and the Institute is delighted to support the Aviana team as it advances the commercialization of this promising new technology."