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Apollo Nabs $250K in Federal Grants for Handheld Blood Analysis Device

NEW YORK (360Dx) – Apollo Medical Devices recently was awarded a total of $250,000 in federal grants to develop its handheld blood analysis device, the firm said today.

The National Science Foundation awarded the Cleveland-based company a $225,000 Small Business Innovation Research grant, while the National Institutes of Health awarded it a $25,000 Clinical Facilitation Award through the Consortia for Improving Medicine with Innovation and Technology Point-of-Care Technology Research Center.

Apollo will use the grants for R&D on its system, which is being developed to provide results from a single drop of blood in five minutes. The device can be used in neonatal care, acute care centers, primary care, military care, and by first responders and disaster relief organizations, the firm said, adding the global market for point-of-care blood chemistry testing is an estimated $3 billion.

Apollo licenses the technology from Case Western Reserve University.