Medical Innovation Competition Pits Country Against Country

Now in its seventh year, Paris-based Universal Biotech, a division of Universal Media Group, launched the Innovation Prize to support the world's most promising early-stage life science technology, specifically in the field of diagnostics, therapeutics and e-health.

Included on the roster of 17 semi finalists are four U.S. startups - LumaMed, Procyrion, Vault Nano and Woven Orthopedic Technologies.

LumaMed (Johns Creek, GA) provides high resolution, wide-field digital images that allow surgeons to visualize cancer during an operation. The ability to see the cancer in the operating room has enormous value in areas where tissue conservation is critical, such as in breast cancer where cancer is missed in 30 to 40% of all cases requiring a repeat surgery.

Procyrion (Houston, TX) is addressing heart failure with Aortix™, a catheter-deployed micro-pump. Thinner than a #2 pencil, Aortix augments heart function by reducing afterload, allowing the heart to work at a sustainable level while perfusing vital organs. The powerful booster pump has the potential to replace high-risk surgical devices and lengthy hospital stays with a low-risk outpatient cardiology procedure, not only improving patient quality of life, but also benefiting hospitals and payers by cutting treatment costs and readmission rates.