Contraline Awarded $50,000 from Center for Innovative Technology
Monday, June 13th, 2016
CHARLOTTESVILLE, Virginia – Contraline is excited to announce its selection as an awardee for the 2016 Research Commercialization Award. This distinction is supported by the Center for Innovative Technology’s Commonwealth Research Commercialization Fund (CRCF). The mission of this fund is to accelerate innovation and economic growth in Virginia by advancing solutions to important state, national, and international problems through technology research, development, and commercialization. Since its inception in 2012, the CRCF has awarded funding to over 180 projects from around the commonwealth on topics ranging from data analytics to life sciences. This year, CRCF awarded $3.4 million in funding to support 48 projects around the state of Virginia. Contraline was selected as one of 20 companies specifically for the Commercialization Program.
Contraline plans to use the funding to perform proof-of-concept studies on echogenic polymer gels for vas-occlusive contraception and investigating novel methods for reversing them. In announcing this year’s awards, Virginia Governor Terry McAuliffe stated “We will continue to support emerging sectors that are pushing the boundaries of exciting research and development to help build the new Virginia economy.” Contraline is grateful for the state’s generosity and looks forward to sharing the potential breakthroughs made possible by these funds.