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Excerpted and corrected from Houston Chronicle, Nov. 28, 2009
Complete article available at: http://www.chron.com/disp/story.mpl/tech/news/6742312.html

Gov. Perry Announces Emerging Tech Fund Investments

October 03, 2008
(exerpted)

AUSTIN – Gov. Rick Perry today announced the state will invest $250,000 each through the Texas Emerging Technology Fund (TETF) in Cormedics Corp.for the research, development and commercialization of their innovative technologies.

"Continued investment in emerging technologies is essential to maintaining a strong position in an increasingly competitive economy,” Gov. Perry said. "These investments will help push Texas to the forefront of energy innovation and biomedical science."

Cormedics’ novel whole-heart therapies range from emergency access to delivery of electrophysiology and echocardiography devices and delivery of medications to the heart. The company developed a minimally-invasive instrument that provides safe access to the pericardial space which surrounds the heart while avoiding injury to the heart. The company’s technology partners include the Texas Heart Institute.

The TETF is a $200 million initiative created by the Texas Legislature in 2005 at the governor’s request and was reauthorized in 2007. A 17-member advisory committee of high-tech leaders, entrepreneurs and research experts reviews potential projects and recommends funding allocations to the Governor, Lieutenant Governor and Speaker of the House. To date, the TETF has allocated $109 million in funds to Texas companies and universities.

For more information on the TETF, please visit http://www.emergingtechfund.com.