Home / Today's Top Stories / Infotonics to collaborate with firm on pill camera R&D

Infotonics to collaborate with firm on pill camera R&D

The Infotonics Technology Center Inc. in Canandaigua announced Thursday it has reached a collaborative research and development agreement with Medi-photonics Development Co. LLC, to develop a pill camera.
Medi-photonics is the New York subsidiary of Cherry Hill, N.J.-based Mediscience Technology Corp. The pill camera also is known as the Mediscience Compact Photonic Explorer.
The project will use Mediscience intellectual property to detect cancer and monitor physiological body functions throughout the digestive tract with a disposable, swallowable pill.
The parties will collaborate in the development of commercially viable miniature devices that make use of ultraviolet light to diagnose the health of living tissue, and that remotely monitor the health and status of medical and non-medical environments.
The research, led by Robert Alfano and his team at City University of New York, has been based on an ongoing four-year commitment to develop miniature devices that use light to remotely monitor health.
As part of the agreement, Infotonics has accepted a 1 million-share position in Mediscience for its $2 million contribution to the project with a six-year warrant to acquire an additional 1 million shares at $3 per share.
Les Fritzemeier, Infotonics’ director of business development and governmental programs, said the agreement is a milestone for the center. The camera stems from collaborative, Infotonics-funded research at eight universities over the past two years.
“This is a prime example of the role the Infotonics Center can play in moving innovations into the marketplace to drive economic growth,” Fritzemeier said.

(c) 2004 Rochester Business Journal. Obtain permission to
reprint this article.


Check Also


Golisano shares advice, wisdom and anecdotes in new book (access required)

Tom Golisano has always been fond of making a buck. Or a billion. As the founder of Paychex, he turned ...

A Wegmans store in sunnier Virginia

Wegmans is No. 3 on Best Companies to Work For list, once again (access required)

For the 23rd year in a row, Wegmans Food Markets has made the Fortune 100 Best Companies to Work For ...