CryoCrate LLC, founded by Dr. Xu Han, recently won a Small Business Innovation Research (SBIR) Phase I award from the National Institute of Health (NIH). The SBIR award will help fund the development of a new device that further improves the process and technique of CryoCrate’s existing products. The company has also received the University IP-Fast Track Award in 2013 and the University Faculty Innovation Award in 2014, both from the University of Missouri.
Founded in 2012, CryoCrate is a company that seeks to innovate and commercialize cryopreservation technologies. The company is currently working with the University of Missouri on a licensing agreement related to a cryopreservation medium that will revolutionize the $463 million cryopreservation industry. This medium facilitates long-term storage of cells using regular lab deep freezers, forgoing the need for liquid nitrogen, but without compromising the quality or lifetime of the cells. The device to be developed with funding from the NIH SBIR award will work in conjunction with the cryopreservation medium in order to apply this technological innovation more effectively within the industry.
CryoCrate is working with local angel investors and is a client of the Missouri Innovation Center. The company is currently looking for an experienced CMO/CEO to commercialize its technology pipeline.