Revon Systems Awarded National Science Foundation Small Business Technology Transfer Grant For Development Work on Digital Therapeutics

Friday, July 20, 2018 General News
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Grant will support development and commercialization of novel machine-learning backed triage applications for patients with Chronic Obstructive Pulmonary Disease

LOUISVILLE, Ky., July 19, 2018 /PRNewswire/ -- Digital therapeutics company, Revon Systems, has been awarded federal

funding for the development of standalone mobile applications that detect declines in patient health early and guide the patient to the right level of care.

Revon Systems' Chief Data Scientist, Dr. Sumanth Swaminathan, said, "Revon is thrilled that the National Science Foundation is supporting this vital technology development effort. COPD patients face a constant burden of symptom escalations, which lead to long-term decline in lung function and overall health. Thus far, observational studies of Revon's respiratory therapeutics are showing a positive impact of the machine-learning backed triage applications on patient symptom severity, anxiety, and quality of life. The next crucial step is to optimize and validate the product for broader use by the respiratory patients around the globe.

"The National Science Foundation supports small businesses with the most innovative, cutting-edge ideas that have the potential to become great commercial successes and make huge societal impacts," said Barry Johnson, Director of the NSF's Division of Industrial Innovation and Partnerships. "We hope that this seed funding will spark solutions to some of the most important challenges of our time across all areas of science and technology."

The NSF STTR Phase I award brings $225,000 into Revon's product development effort. Phase I work will focus on prototyping of the COPD Smart Symptom Tracker mobile application for optimization of patient adoption, retention, ease-of-use, and overall health. Phase II work, if awarded, will focus on complete commercialization of the validated product.

About Revon Systems: REVON is a digital therapeutics company that specializes in helping patients with cardiovascular and lung conditions to self-manage signs and symptoms, intervene early on health declines, and improve quality of life. REVON's primary differentiating technology is a built-in machine learning feature called a Smart Symptom Tracker that interprets troubling symptoms and signs with the goal of finding the right level of care early.

About The NSF's Small business Program: America's Seed Fund powered by NSF awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $1.5 million in non-dilutive funds to support research and development (R&D), helping de-risk technology for commercial success. America's Seed Fund is congressionally mandated through the Small Business Innovation Research (SBIR) program. The NSF is an independent federal agency with a budget of about $7.8 billion that supports fundamental research and education across all fields of science and engineering. For more information, visit seedfund.nsf.gov.

 

Cision View original content:http://www.prnewswire.com/news-releases/revon-systems-awarded-national-science-foundation-small-business-technology-transfer-grant-for-development-work-on-digital-therapeutics-300683721.html

SOURCE Revon Systems



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