Local tech finds Precarn cash

Local companies Neptec Design Group Ltd. and Panacis Medical receive funding from Ottawa-based Precarn Inc. Panacis_Medical.jpgfor R&D that will “speed up the ultimate manufacture of technology on a commercial level.” The two are among six Canadian companies who will get a share of $2.5 million from not-for-profit tech investor Precarn, which represents a national network of corporations, institutions and government partners. “This new program addresses a critical sector of the Canadian economy – manufacturing,” says Anthony Eyton, Neptec-logo.JPGpresident and CEO of Precarn. “Given the difficult economic times, what we need in this economy is a rapid conversion of R&D to jobs and revenues, and this infusion of funds is intended to help do just that…” Receiving $500,000 and working with Algonquin College, Neptec will use the funding to develop its Laser Range Finder, a proximity sensor used to help satellites “see” as they travel through space. Panacis Medical, with an infusion of $280,000, will continue work developing a portable device coined the “Aspirometer,” which detects impaired swallowing in patients with neurological disorders.

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