Windbers Applied Computational Technologies (ACT) is nearing its goal of venture capital funding and is having conversations with international buyers for its life sciences software.
ACT develops software applications for radiation treatment planning for cancer therapy. Although more than 65 percent of the cancer patients in the U.S.–some 1.4 million–receive radiation therapy, achieving the correct dose calculation has been a challenge for treatment systems. The companys ProActive (TM) technology/software package offerings better accuracy and as a result, better outcomes and lower costs.
Four-person ACT is housed at Windber Research Institute, a cancer research facility south of Johnstown in Windber designated as both a Keystone Innovation Zone and a Keystone Opportunity Zone. Founded in 2003, ACT has received solid support from both the Pittsburgh Life Science Greenhouse, which has invested $430,000, and from the Ben Franklin Technology Partners of Central/Northern Pennsylvania (BFTP/CNP), which has contributed $500,000 over three rounds. With lead funding from Blue Tree Allied Angels of Pittsburgh, co-founder Jay McClatchey says ACT has already raised more than half of the current round of venture capital and is close to a deal, though he declined to give specifics.
Company founders McClatchey and Andy Holland hired Kathy Blum as CEO in mid-2008. McClatchey says ACTs long-term goal is to sell to a radiation treatment system provider.
“This is an international market. There are five or ten companies in the world that dominate, and were talking to all of them,” he says.
Source: Jay McClatchey, ACT
Writer: Chris OToole