$1.1M grant will fuel a big-name partnership for Portland biotech firm

One of Portland’s more innovative health care companies will work with one of the country’s best-known researchers thanks to a sizable federal grant.

HemCon Medical Technologies Inc., a wholly owned subsidiary of TriStar Wellness Solutions Inc. (OTCQB: TWSI), collected $1.1 million to develop a transurethral hemostatic device. HemCon will work with Oregon Health & Science University on the project.

The money comes from the National Institutes of Health, which wants HemCon to hone a hemostatic dressing that can be delivered via a catheter.

The item would help control and prevent bleeding during prostate surgery. Prostate benign hyperplasia and prostate cancer commonly lead to surgery for older men, with about 150,000 procedures performed annually.

Uncontrolled bleeding during those surgeries can delay the healing process.

HemCon filed for bankruptcy protection and was sold in 2013 to TriStar. HemCon relocated to downtown Portland last year.

The 14-year-old company develops and makes hemostatic devices that control bleeding. Its customers include the military.

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Andy Giegerich
Digital Managing Editor-
Portland Business Journal
May 6, 2015

2016-03-04T01:06:52+00:00