Purdue U invests $500K in university-affiliated AI startup

West Lafayette, Ind.-based Purdue University's medical technology investment fund allotted $500,000 to PhysIQ, a healthcare startup founded by a Purdue alumnus, according to a Jan. 29 news release.

PhysIQ uses artificial intelligence to analyze real-time physiological data gathered by wearable sensors. Because it not only identifies patients in need of interventions, but can also demonstrate the effects of specific interventions, the technology is marketed toward both healthcare providers and pharmaceutical companies.

The funding was delivered through the Foundry Investment Fund, the product of a partnership between the Purdue Research Foundation and devicemaker Cook Medical. Along with the financial assistance, PhysIQ will also collaborate with Purdue's Weldon School of Biomedical Engineering to further develop the startup's technology.

"Among the many exciting reasons about this collaboration is that it facilitates a closer alignment with some of Purdue's experts," Founder Gary Conkright, an alumnus of Purdue's College of Engineering, said in the release. "One specific example is the direct collaboration with the school of biomedical engineering, which will accelerate PhysIQ's work in areas in which they excel. In tandem, we are providing real-world use cases to the school's research efforts."

More articles on innovation:
Houston Methodist CMIO: How transformational innovation is 'bringing the joy back to healthcare'
Texas Children's joins Team USA's medical technology, innovation fund
Melinda Gates funnels $50M into gender equity initiatives in tech hubs

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers