Texas Emerging Technology Fund awarded $2 million to Alafair Biosciences Inc. for the commercialization of its internal wound healing devices. Alafair licensed and developed the patented technology with the University of Texas at Austin.
The TETF is a $485 million fund created by the Texas legislature at Governor Rick Perry’s request. A 17-member advisory committee of high-tech leaders, entrepreneurs and research experts reviews potential projects and recommends funding allocations to the governor, lieutenant governor and speaker of the house.
Alafair's technology uses naturally occurring polymers to make biological films that protect injured tissues and guide the wound healing process. This material helps safely and effectively minimize the need for hospitalization and additional operations to address unwanted and abnormal scar tissue from surgical procedures.
"Texas has a burgeoning biotechnology sector, and it is our passion to develop this promising technology into a series of products that will ultimately reduce pain, suffering and complications related to healing after surgical procedures" Alafair CEO Daniel Peterson said. "The TETF investment will greatly extend our capabilities to refine and develop innovative wound healing products manufactured right here in Texas."
"Texas continues to be a leader in innovative life-science technologies that develop products to help improve patient comfort, safety and outcomes," Gov. Rick Perry said. "Alafair Biosciences has the potential to prevent and treat problems before they start, and will help strengthen the biotechnology industry that is flourishing across Texas."