Advanced Cochlear Systems to Present at Medtech Insight's ``Investment In Innovation'' Conference.Business Editors/Health/Medical Writers Medtech Insight 2004 Investment in Innovation SNOQUALMIE, Wash.--(BUSINESS WIRE)--Feb. 20, 2004 Advanced Cochlear cochlear pertaining to or emanating from the cochlea. cochlear duct the coiled portion of the membranous labyrinth located inside the cochlea; contains endolymph. cochlear nerve see Table 14. Systems Secures NIH "Not invented here." See digispeak. NIH - The United States National Institutes of Health. Grant to Fund New Hearing Restoration Device -- Entirely new treatment approach to treat Strial Presbycusis -- hearing loss due to aging Advanced Cochlear Systems will be presenting on Wednesday, February 25th at Medtech Insight's Prestigious "Investment In Innovation" Event, taking place February 24-25, 2004 at the Hyatt Regency Irvine in Irvine, California. Advanced Cochlear Systems (ACS (Asynchronous Communications Server) See network access server. ) today announced that it has received a Phase II Small Business Innovation Research (SBIR SBIR Small Business Innovation Research (program/grant) SBIR Space Based Infra-Red SBIR Speaker-Boundary Interference SBIR Site Backsurface-referenced Ideal Plane/Range (silicon wafers) ) grant from the National Institutes of Health (NIH) to support its research and development of a new device to treat strial presbycusis (age-related hearing loss). The research grant allows ACS to further the development of an implantable device to return hearing to seniors who have lost their hearing. The estimated U.S. market for the new device is greater than 8 million people. The grant runs for two years and brings a total of $750,000 to the company and its collaborating institution, the Medical University of South Carolina “MUSC” redirects here. For Abel Santa María airport in Santa Clara, Cuba (ICAO code MUSC), see Abel Santa María Airport. The Medical University of South Carolina . Dr. Francis Spelman is the principal investigator of the research effort, while Dr. R.A. Schmiedt leads the project at the Medical University of South Carolina. Scott Corbett, President of ACS, also announced the issuance of a patent that underlies the ACS effort to bring hearing to the aging. U.S. Patent 6,694,190, "Apparatus and method for treating strial hearing loss," was issued on February 17, 2004, and assigned to ACS. Mr. Corbett said, "The ACS approach to bring hearing to the elderly deaf is revolutionary. No other company that we know of is working to solve this problem. Our goal is to bring full communication to many of the elderly who have lost their hearing. This exciting research complements the work that we are doing now on cochlear implants Cochlear Implants Definition A cochlear implant is a surgical treatment for hearing loss that works like an artificial human cochlea in the inner ear, helping to send sound from the ear to the brain. ." The company also announced that it will be presenting at the upcoming Medtech Insight's "Investment In Innovation" Conference in Irvine, California, on February 25th, as part of the Company's effort to raise 5 million dollars to further development of the company's main product, a new cochlear implant cochlear implant n. An electronic device that stimulates auditory nerve fibers in the inner ear in individuals with severe or profound bilateral hearing loss, allowing them to recognize some sounds, especially speech sounds. system. About Advanced Cochlear Systems (ACS) Located near Seattle, Advanced Cochlear Systems' mission is to develop and commercialize a new generation of implantable hearing devices addressing root causes of hearing impairment hearing impairment n. A reduction or defect in the ability to perceive sound. . These devices will dramatically improve speech comprehension and sound clarity for the severely hearing impaired population, promoting a significant improvement in quality of life as well as reducing overall cost of care. Founded in 1995, ACS has assembled a team of experts in cochlear neurophysiology neurophysiology /neu·ro·phys·i·ol·o·gy/ (-fiz?e-ol´ah-je) physiology of the nervous system. neu·ro·phys·i·ol·o·gy n. , digital speech processing, optoelectronics, medical device packaging, high-density interconnection and bioengineering bioengineering Application of engineering principles and equipment to biology and medicine. It includes the development and fabrication of life-support systems for underwater and space exploration, devices for medical treatment (see . About Medtech Insight Medtech Insight's "Investment In Innovation (In3): A Preview of Early-Stage Medical Technology Companies" conferences are considered the premier forum for senior executives in the medical technology and investment community to preview emerging medtech companies in need of funding, acquisition and/or strategic partnership. In addition to conferences, Medtech Insight publishes the "medtech insight" newsletter, a monthly publication covering the latest trends and innovations in the medical technology industry, analyses of medtech markets through its Reports group, and offers custom consulting and market research. To register for the Irvine conference or for more information on Medtech Insight, please call Scott Pantel at (949) 219-0150 or (888) 290-2225 toll-free in the U.S., e-mail in3@medtechinsight.com, or visit http://www.medtechinsight.com/in3-10.html. |
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