The Florida Institute for the Commercialization of Public Research (the Institute) announced today that it has finalized a funding agreement with Ovation Diagnostics, a Boca Raton-based company with technology developed at University of South Florida. The Institute supports new company creation based on publicly-funded research, and bridges early funding gaps for companies spinning out of Florida-based universities and research institutions.

Ovation Diagnostics is committed to improving outcomes of women with ovarian cancer. Using a novel biomarker present in urine samples of ovarian cancer patients, the company is developing a laboratory test which will offer women an efficient, noninvasive and affordable method of detection with potentially higher specificity and sensitivity for ovarian cancer compared to existing methods of detection.

Early and accurate detection is essential for success in treatment of ovarian cancer. Unfortunately the majority of existing tests lack the ability to accurately detect the cancer in its early stages which results in lower survival rates,” said Joseph E. Zack, Ovation Diagnostics President. “Our hope is this test may make a difference in earlier detection.”

“Ovation Diagnostics is developing novel technology that has the potential to have a significant impact on the survival rates of women affected by this serious and costly disease,” said Jackson Streeter, MD, Institute Chief Executive Officer.

Source: Florida Institute Funds Boca Raton-based Ovation Diagnostics