PHILADELPHIA--(June 22, 2016) -- Quantitative Radiology Solutions, the newest company to join the University City Science Center’s Port business incubator and current participant in the Phase 1 Ventures program, is leveraging regional and federal resources to disrupt radiation therapy and treatment for cancer patients.
Quantitative Radiology Solutions helps physicians make better treatment decisions by quantifying medical imaging using a tool called Automated Anatomy Recognition (AAR). This system quickly identifies and delineates anatomical structures in multiple body regions using MRI, CT, and PET/CT images. This technology will have a significant impact on radiology, oncology, and surgery. Thanks to the body-wide AAR system, what previously took hours to map can be done within minutes, reducing time, costs, and variation. Quantitative Radiology Solutions was launched through the University of Pennsylvania’s UPStart program.
As a resident of the Port business incubator, Quantitative Radiology Solutions will be plugged into a rich network of resources where they can access the programs, the people and the support that can help grow businesses. Phase 1 Ventures (P1V) will allow the early-stage company to test its business feasibility in a low-risk environment thanks to funding and direct access to business expertise offered by the program.
Since its official launch earlier this year, P1V has already assisted several newly-formed companies. Quantitative Radiology Solutions joins the inaugural cohort that also includes PolyCore Therapeutics, a spinout of Drexel University and a fellow resident of the business incubator.
The Science Center recently selected the second cohort of P1V projects. These four projects have ties to Lehigh University; Rutgers, The State University of New Jersey; and Temple University.
P1V provides early-stage businesses with direct funding up to $450,000, and also helps them secure public and private funding. Quantitative Radiology Solutions received $213,000 of direct financing from P1V, and received grants from National Institute of Health and National Science Foundation. PolyCore Therapeutics, which is developing a new drug to manage the side effects of treating Parkinson’s and other neurological diseases, received $250,000 from P1V.
The Port business incubator helps emerging life sciences, physical sciences, and digital technology companies operate and grow through a suite of related programs and facilities. The Port provides coworking spaces, cubicles, fully furnished offices, and wet and dry labs directly in the heart of the Science Center’s legacy campus at uCity Square. The Port also connects its residents to Greater Philadelphia’s diverse and supportive innovation ecosystem.
About the Science Center
Located in the heart of uCity Square, the University City Science Center is a dynamic hub for innovation, and entrepreneurship and technology development in the Greater Philadelphia region. Founded in 1963 as the nation’s first urban research park, it provides business incubation, programming, lab and office facilities, and support services for entrepreneurs, start-ups, and growing and established companies. Graduate firms and current residents of the Science Center’s business incubator support one out of every 100 jobs in Greater Philadelphia and drive $12.9 billion in economic activity in the region annually. For more information about the Science Center, go to www.sciencecenter.org.
