Local Healthcare Company, Paratus Diagnostics, Wins International Award For Innovation

They have received funding support from the Bill and Melinda Gates Foundation, National Institutes of Health and the Department of Defense. In 2016, they successfully closed their Series A equity funding round.

SAN MARCOS, Texas – Paratus Diagnostics, LLC received the Innovation Award from the Association of University Research Parks (AURP) for developing a novel point of care diagnostic platform to detect infectious disease pathogens. The award is given annually to a company located in a science or research park who is commercializing a technology which has significant impact on its industry and has meaningful benefits for society.

Paratus Diagnostics moved into Texas State’s Science, Technology, and Advanced Research (STAR) Park in 2015, and has conducted innovative research in the STAR One technology incubator since then. They have received funding support from the Bill and Melinda Gates Foundation, National Institutes of Health and the Department of Defense. In 2016, they successfully closed their Series A equity funding round.

“At Paratus, our philosophy is to ‘think, innovate, invent’ and we have used this strategy to transform the way diagnostics tests can be performed at the point of care in doctor’s offices, small clinics, urgent care settings, or developing countries,” according to Dr. Shannon Weigum, VP of Biological Sciences.

According to Stephen Frayser, STAR Park Executive Director, “Paratus Diagnostics exemplifies what is possible through close collaboration between the private sector and universities. The firm has worked closely with faculty in the Biology Department and Materials Science, Engineering and Commercialization Program at Texas State, funding research supporting product development, hired Texas State graduates and provided internships for university students.”

If you would like to learn more about Paratus Diagnostics, please visit their website at www.paratusdiagnostics.com.

STAR Park is Texas State University’s 58 acre research park being developed as a location dedicated to collaboration with industry, governmental labs and nonprofit research institutions to increase innovation, commercialization and entrepreneurship. For more information please visit the STAR Park website at www.txstate.edu/starpark.