This is nice to see funds given for research and further development of such products, especially in care for women. The grants are to create funds for affordable medical solutions as well as addressing unmet needs in healthcare, and they appear to be getting some tax benefits as well as supporting jobs in the US. We like to hear that. BD
AGOURA HILLS, Calif.--(BUSINESS WIRE)--Caldera Medical, Inc. announced today that it was awarded two Qualifying Therapeutic Discovery Grants in the total amount of $488,958 by the U.S. Department of the Treasury as part of its new Qualifying Therapeutic Discovery Project (QTDP) program created by the Affordable Care Act. The program was designed to provide tax credits and grants to businesses that show significant potential to produce new and cost-saving therapies, address unmet medical needs, support good jobs and increase U.S. competitiveness in the fields of life, biological, and medical sciences.
Caldera Medical received the maximum grant amount for research and development work on two innovative, minimally invasive products designed for the treatment of Stress Urinary Incontinence (SUI) and Pelvic Organ Prolapse (POP) that Caldera plans to launch in 2011. SUI affects approximately 15 million women in the U.S. with an estimated 1 in 3 women suffering some degree of SUI. POP is one of the most common quality of life conditions facing women with nearly 50% of women who have given birth vaginally developing this condition. Patients often present with a dual diagnosis of SUI and POP due to their similar underlying etiology.
Caldera Medical’s current product portfolio includes Desara® Sling System for the treatment of Stress Urinary Incontinence and Ascend® Pelvic Floor Repair System with Apical Support for Pelvic Organ Prolapse. Both products utilize a suite of reusable instruments.