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This Year's Highlights
- FAST Diagnostics is developing a device for accurate and rapid measurement of kidney function, which is revolutionary in the diagnosis of Acute Kidney Injury and Chronic Kidney Disease. No solution currently exists that meets this large and growing need.
- FAST?s technology provides accurate and rapid measurement of the true glomerular filtration rate (GFR)- the rate by which the kidneys filter waste products from the blood stream and the primary indicator of injury, disease progression.
- The initial prototype device, molecules and method have all completed the proof of concept stage, and FAST Diagnostics has completed an intial round of seed funding from the Indiana University Medical Group, the METACyt Fund, and angel investors.
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Anticipated Highlights
- 2008 Development milestones include completion of a 2nd generation prototype, completion of toxicology studies, and Phase I clinical protocol development.
- FAST will initially target the 6,000 US ICUs - where renal failure and mortality are highest. The ICU market for FAST's technology is $50MM in devices and $500MM in annual testing. FAST projects $20MM in Revenue by 2012.
- Priorities for 4th Quarter of 2007 will include finalizing the 1st working prototype, filling key management positions, optimizing the fluorescent compound, and raising $2.4MM additional funding to enable 2008 development milestones.
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