University of Iowa News Release
Sept. 16, 2004
VIDA Diagnostics Locates At UI's Technology Innovation Center
At its meeting Sept. 15, the Board of Regents, State of Iowa approved a lease for VIDA Diagnostics as the newest tenant of the University of Iowa's Technology Innovation Center (TIC).
VIDA Diagnostics develops and markets software solutions for the detection, staging, treatment planning and follow-up for acute and chronic lung disease, such as emphysema, chronic obstructive pulmonary disease (COPD), asthma, lung cancer and interstitial lung disease.
This class of diseases is the third leading cause of death in the U.S. and accounts for over $130 billion in annual direct medical costs, according to the National Institutes of Health.
"Our software locates and measures chronic lung disease far more accurately
than the current standard of care," said VIDA CEO John Garber. "VIDA's
Pulmonary Analysis Software Suite will improve care and lower overall costs
for pulmonary patients by supplementing visual assessments of CT images,
which can vary from reader to reader, with fast, quantitative, repeatable
measurements," said Garber. "The University of Iowa's continuing
leadership in pulmonary imaging research made our decision to locate on the
Oakdale Campus obvious," he added.
VIDA Diagnostics was founded by four UI faculty members: Dr. Eric Hoffman, professor of biomedical engineering, nursing, and radiology; Dr. Geoffrey McLennan, M.D., professor of internal medicine; Dr. Joseph M. Reinhardt, associate professor of biomedical engineering; and Dr. Milan Sonka, professor of electrical and computer engineering. The company's CEO is John Garber, whose entrepreneurial and general management experience includes roles as chief operating officer and co-founder of Click Commerce (CKCM), a leading enterprise software solution provider, and vice president of e-commerce for PepsiCo (PEP).
VIDA's patent-protected technology was developed at the UI and licensed to VIDA Diagnostics by the University of Iowa Research Foundation (UIRF).
With the addition of VIDA Diagnostics, the TIC will have 18 tenant companies. Twenty-nine TIC "graduate" firms have expanded their business or met other business goals after leaving the incubator and a half-dozen other companies remained in business after leaving TIC.
STORY SOURCE: University of Iowa News Services, 300 Plaza Centre One, Suite 371, Iowa City, Iowa 52242-2500.
CONTACTS: Media: George McCrory, 319-384-0012, email@example.com TIC: Tom Bauer, associate director (319) 335-4067 or firstname.lastname@example.org. Company: Lina Arbach 319-335-4740, email@example.com