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WARF signs exclusive licensing contract on ultrasound technology
MADISON - Echometrix, a developer of proprietary ultrasound technology, and the Wisconsin Alumni Research Foundation (WARF), the private, non-profit patent and licensing organization for the University of Wisconsin-Madison, announced that they have signed an exclusive license agreement that provides Echometrix the rights to make, use and sell ultrasound software and devices based on its innovative technology in the United States, Europe and Japan.
"The addition of the intellectual property developed by my co-founders, Dr. Hirohito Kobayashi and Dr. Ray Vanderby at the University of Wisconsin-Madison, will create a sustainable competitive advantage in the underpenetrated and growing musculoskeletal ultrasound market," says Barbara Israel, company co-founder and chief executive officer. "We also believe that this is the beginning of an important research and development collaboration between Echometrix and the Vanderby lab." Israel also believes that the technology will create rapid growth in the musculoskeletal ultrasound market.
"The technology will offer orthopedics, sports medicine, physical therapy and rheumatology practitioners a new tool to quantitatively assess the function of ligaments and tendons, which could both improve patient outcomes and lower the cost of assessing musculoskeletal injuries," Heim says. The ultrasound technology could impact patient health positively.
Echometrix's technology is designed to improve the speed, convenience and ability to evaluate musculoskeletal conditions at a lower cost than current methods. The company's ultrasound technology is uniquely able to assess the functional status of soft tissues and to identify conditions such as stretched ligaments, torn tendons, micro tears, and tissue inflammation. It also may prove valuable in assessing common conditions such as carpal tunnel syndrome and damaged rotator cuffs.