SOURCE: Tribogenics

Tribogenics

December 06, 2011 13:53 ET

Tribogenics Raises $2.5 Million to Transform X-Ray Industry

UCLA Spinoff Raises Seed Capital to Commercialize DARPA-Funded X-Ray Technology

LOS ANGELES, CA--(Marketwire - Dec 6, 2011) - Tribogenics today announced that it has closed $2.5 million in funding from a network of global angel investors and Flywheel Ventures. The funds will be used to commercialize a disruptive new X-ray technology discovered at UCLA and funded by DARPA and other agencies. This technology enables miniature low-cost X-ray sources for a wide range of applications, including scientific instruments, security screening and medical devices.

Developed by Chief Scientist Dr. Carlos Camara, Tribogenics' patented technology will be used to transform products throughout the $12 billion global X-ray market. Dr. Camara said, "I am very excited to help realize the potential of this technology as we move from the initial discovery to meeting customers' needs."

Tribogenics also announced that mobile pioneer and veteran entrepreneur Dale Fox will lead the emerging technology company's day-to-day operations as CEO. Fox said, "Tribogenics technology will enable small mobile X-ray devices that are not possible using existing technology. I'm excited to be leading such an experienced team to bring these solutions to market."

In 1993, Fox founded the first company to develop accessories and software for mobile devices and invented such mainstays as the ubiquitous screen protector overlay and the first flash module for cameraphones. In total, he has brought over two dozen products to market.

Trevor Loy, General Partner at Flywheel Ventures, commented, "I believe Tribogenics can bring Moore's Law-type innovation to X-ray imaging, and for the first time, bring the benefits of X-ray imaging to billions of people worldwide. In a lifetime, a venture capitalist may only see a handful of investments with this amount of economic and human potential, and I couldn't be more excited to assist the Tribogenics team in realizing that potential."

About Tribogenics
Founded in 2009, Tribogenics is developing low-cost, miniature x-ray solutions for applications in mining, industrial, military, medical imaging, and many other industries. Tribogenics employs technology developed at UCLA by leading scientists and is based in Marina Del Rey, California.

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