Showcase Company: Quadridox

Pioneering a New Way to X-ray

Company Overview: Quadridox, Inc. was founded in 2018 with the goal of developing computational X-ray imaging products to create a safer, healthier world. As a spinout from Duke University, Quadridox initially started as a software-centric company in RTP’s First Flight Venture Center before settling in Hillsborough to develop complete X-ray systems. Through non-dilutive funding and commercial contracts over the last 5 years, Quadridox has bootstrapped itself to become an internationally-recognized leader in X-ray imaging technology, grown to include 13 employees, developed several products, and provided internship and mentoring opportunities to over a dozen young scientists. In addition, we have established key partnerships and collaborations with numerous companies, universities, and research labs across the world.

Innovation: Quadridox is focused on the development of a new type of X-ray imaging system that can quickly and accurately identify what an item of interest is made of, even when that item is concealed by other objects. Our key innovation is our method for imaging using scattered X-rays, which reveal the molecular composition of the item of interest. This technology has a wide array of applications, including improved explosives detection for baggage scanning at the airport, better cancer diagnostics, and new methods for evaluating materials. This platform technology can be optimized for applications of materials science and non-destructive testing, biospecimen research and cancer detection, and explosives detection in aviation security. Together, these products offer revolutionary, new capabilities across the multi-billion-dollar global X-ray market.

Market: Conventional, transmission X-ray imaging is ubiquitous across all sectors, but fundamentally cannot answer crucial questions like “is the thermos in your suitcase full of soup or explosives?” or “where is the cancer in a surgically resected breast specimen?” Our systems record altogether new X-ray information that, when combined with AI-based data analytics, provide the user with powerful capabilities to answer these questions. We are currently working toward the launch of our first commercial system, which provides precision tissue diagnostics in the pathology lab and/or surgical suite. Our compact scanner promises to help streamline tissue triaging and assessment, thereby saving hospitals and labs time and money and providing faster, more accurate diagnoses to patients.

Funding: Quadridox has had a variety of government contracts, including a Phase II SBIR through the NIH National Institute of Biomedical Imaging and Bioengineering and a direct contract with the Department of Homeland Security Science and Technology Directorate. These awards have been critical to building our team, funding the development of products, and enabling us to perform key experiments critical to furthering our business. In addition, our participation in the NIH C3i program, as part of our SBIR, has been an outstanding opportunity to receive targeted guidance and build a wide network of advisors, investors, and peers. Most importantly, though, non-dilutive government funding has been essential to our ability to maintain our vision for the technology and to build Quadridox as a platform company.

Top two tips/take-aways from the SBIR process:

1. Don’t be afraid of the program managers/directors at the funding institution: they really want to hear your great ideas and help you shape them into impactful (fundable) proposals.
2. Appreciate that the process of applying for and receiving the funding is slow, so make sure that your proposals are strategically aligned with your business objectives and do not represent a distraction for your team.

SBTDC Assistance: SBTDC has been an amazing resource for Quadridox over the years. We have participated in the summer internship program, attended conferences/webinars, engaged with one-on-one counseling, and even made critical connections with subject matter experts through the SBTDC network. We are thrilled to be highlighted in this month’s Tech Commercialization Newsletter, and look forward to the fantastic opportunities that come from it!

What’s Next: Quadridox will be seeking investment from well-aligned partners during our current federally-funded projects in order to achieve regulatory approval and bring our products to market; however, we intend to continue participating in sponsored research projects after the completion of our current contracts in a targeted, intentional manner.

Contact Information
Joel Greenberg | joel.greenberg@quadridox.com