HemoShear was recognized as a “Model of Excellence” for the U.S. government’s Small Business Innovation Research (SBIR) Program with the prestigious Tibbetts Award. Over 15,000 companies have received $21 billion of research funding through the SBIR program. Of these companies, only a very small number are chosen as exemplars of the SBIR’s mission. Awarded to only 25 companies in 2014, the Tibbetts Award places HemoShear in an elite group of accomplished companies that are driving innovation and stimulating economic growth. HemoShear was the only Virginia company to receive the award.
HemoShear was recognized for its leadership in changing the way drugs are discovered and developed, departing from traditional scientific methods and animal studies in favor of translational tissue systems that more accurately replicate human response. HemoShear has received more than $8 million in SBIR funding across several NIH institutes. “Through the SBIR mechanism, the National Institutes of Health has been instrumental in our ability to create new jobs and to commercialize innovative human disease translational tissue systems,” remarked Brian Wamhoff, PhD and VP for Research and Development at HemoShear. “We have been funded by four NIH institutes to create or validate human disease tissue systems for drug discovery, including vascular, liver, cancer and rare diseases, a true testament to the breadth and quality of HemoShear’s science and our outstanding scientists.”
At the awards ceremony in Washington DC, CEO James Powers, who accepted the award on HemoShear’s behalf, commented that, “The Tibbetts Award recognizes the growing value of HemoShear’s human disease biology platform. We are extremely proud to have received the Tibbetts Award and to join the ranks of many prior awardees who have achieved commercial success.”
The national Tibbetts Awards are presented annually to companies and individuals that promote the mission and goals of the SBIR program. These awards are selected by the U.S. Small Business Administration (SBA) based on recommendations of a panel of judges who carefully consider a company’s technological contributions and its ability to address the nation’s needs for technological innovation.