Historically, we’ve seen that it takes a proven, viable vision for a private biotech firm to gain access to funding from the Texas Emerging Technology Fund. Houston-based Procyrion, Inc. has proven that its viability in the biotech sector is worthy of Texas state funding.
Yesterday, the privately-held medical device company, which is also associated with the Houston Technology Center, announced the closing of $750,000 second tranche from the Texas Emerging Technology Fund. To date, Procyrion has now received $1.5 million from TETF, which has gone in large part toward the continued development and commercialization of the first catheter-deployed circulatory assist device that is intended for long-term use in the treatment of chronic heart failure.