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SOURCE University of Maryland BioPark
BALTIMORE, Feb. 26, 2014 /PRNewswire/ -- The University of Maryland (UM) BioPark and UM Ventures announced today that Advanced Metrics, a successful early-stage UM, Baltimore (UMB) startup has moved from offices on the University's campus to the BioPark. Advanced Metrics is leveraging software development and data expertise to provide solutions for the healthcare industry. It has moved quickly into commercialization since establishment only a year ago. Two employees will develop the company's technologies at the BioPark. The company also has additional staff in Mountville, Pennsylvania.
"Moving to the UM BioPark allows us to grow in an innovation-rich environment, where a variety of scientific companies operate," said Steven Herr, Ph.D., CEO of Advanced Metrics. "We aspire to be innovative and agile, and to work in a smart way for healthcare practitioners and families. Moving to the BioPark and surrounding ourselves with innovative peers is an ideal step towards accomplishing our mission."
Founded in January 2013, Advanced Metrics has two licensing agreements with UMB: one related to a software-based clinical outcomes management system for the behavioral healthcare industry, and another focused on pediatric wellness software. The company achieved its first commercial sale during the second quarter of 2013 with "KIDnet," its behavioral health product. KIDnet improves the quality of behavioral health treatment for children, adolescents, adults and their families with the use of real-time reporting of treatment outcomes.
Several important milestones led to Advanced Metrics' move to the UM BioPark. In addition to signing the master licensing agreement with UMB in January 2014, Advanced Metrics also signed memorandums of understanding (MOUs) with two new customers to develop software. The goal of these agreements is to broaden the range of software platforms Advanced Metrics offers in specialized areas pertaining to physical health and entrepreneurship.
"We grew from within the University of Maryland School of Medicine's Department of Psychiatry, and the University has been a big supporter of our startup efforts," said Dr. Herr. "The Office of Technology Transfer is amazing – an unbelievable group of smart, helpful people. We are excited to have their assistance and to continue our relationship with the University through our move to the BioPark."
Said James Hughes, Chief Economic Development Officer and Vice President at UMB, "The BioPark has added another important health IT startup to its tenant base with Advanced Metrics. We are pleased that the company has already entered the commercial stage, as it is part of the UM Ventures mission to accelerate scientific commercialization and economic development in the surrounding community and throughout the region."
About Advanced Metrics
Advanced Metrics (AMS) was originally formed to address the needs of clinical practitioners and Managed Behavioral Healthcare Organizations (MBHCO) in clinical outcomes, quality and overall accountability. Today, we are advancing our scope to performance management solutions in the field of physical health, specifically the fields of pediatric child maltreatment screening and population management. It is the mission of AMS to develop and provide meaningful evidence based outcomes management software that applies science to the art of practice with children, families, and adults. We give practitioners the ability to measure with confidence, impact in goal attainment, performance achievement, and overall quality of life. AMS brings software innovation and agility to the market where other systems lack flexibility. Principles of practitioner-to-patient shared decision making, and decision support, create a technology platform that enhances care and improves patient outcomes.
About the University of Maryland BioPark
The UM BioPark is a biomedical research park on the campus of the University of Maryland, Baltimore (UMB). The BioPark welcomes additional life science companies to join its growing scientific community of emerging, high-growth life science tenants and UMB translational research and clinical treatment centers. For early-stage to mature bioscience companies, the BioPark offers a sophisticated laboratory and office environment on UMB's vibrant academic medical center campus. Community members are commercializing new drugs, diagnostics and devices and advancing biomedical research. Learn more about BioPark tenants at http://www.umbiopark.com/tenants.aspx.
About UM Ventures
UM Ventures is an initiative to channel the tremendous technical resources and research expertise of the University of Maryland, engaging partners in industry and social ventures to expand real world impact. By encouraging students and faculty, providing expert advice and business services, more discoveries will reach the market. By engaging directly with external partners UM Ventures brings new investment, expanded markets and more start-up ventures. Visit http://umventures.org/ to learn more.
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