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May 2004 Issue

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UC Honors Business-Boosting Entrepreneurs

Published May 2004

UC honored an alumnus and three faculty members this month for entrepreneurship in translating their expertise into new business opportunities.

The achievements of the four honorees range from formation of venture capital firms to development of low-cost systems for exploring molecular pathways in disease, mechanical devices for treating heart failure, and a new ultrasound clot-dissolving system that will benefit stroke patients.

Engineering alumnus Edward W. Wedbush received the Lifetime Achievement Award; Eric Gruenstein, PhD, the Established Entrepreneur Award; David Melvin, MD, PhD, the Emerging Entrepreneur Award; and Christy Holland, PhD, an Honorable Mention at UC's 6th Annual Entrepreneurship Recognition Banquet.

UC's Center for Entrepreneurship Education and Research hosts the banquet annually to reward achievements of current and former faculty and students. The Entrepreneurship Recognition Banquet is sponsored by UC's senior vice president and provost for health affairs, senior vice president and provost for baccalaureate and graduate education, and vice president for research and advanced studies.

2004 Lifetime Achievement Award

 UC College of Business Alumnus Edward W. Wedbush lives in Rancho Santa Fe, Calif. He earned his MBA at UCLA in 1957 and received an honorary doctor of commercial science from UC in 2000. In 1980 he formed Wedbush Corporation, which later became E*Capital Corporation, a private holding company for all Wedbush subsidiaries. Wedbush is now president of the E*Capital Corporation-owned company Wedbush Morgan Securities.

2004 Established Entrepreneur Award

Eric Gruenstein, PhD, professor in the Department of Molecular Genetics, Biochemistry and Microbiology, founded Intracellular Imaging, Inc., in 1991 and has since developed low-cost systems designed to measure intracellular calcium in living cells. These systems, consisting of hardware to collect cellular images and software to analyze these images, allow researchers to explore molecular pathways involved in health and disease. More than 140 systems have been sold worldwide. Use of this system has resulted in over 100 scientific publications.

2004 Emerging Entrepreneur Award

 David Melvin, MD, PhD, associate professor in the Department of Surgery and professor of biomedical engineering, developed technologies to treat heart failure. With an increase in aging populations, the market for mechanical devices for treating heart failure is growing. Dr. Melvin's work with CardioClasp, Inc., and Cardio-Energetics, Inc., a start-up corporation in the BIO/START business incubator, has generated more than $8 million in venture, corporate and individual investment.

2004 Honorable Mention

Christy Holland, PhD, associate professor of biomedical engineering and radiology in the Colleges of Engineering and Medicine, developed a transcranial ultrasound thrombolysis system (TUTS). Preliminary studies suggest that ultrasound, combined with the clot-busting drug t-PA, dissolves a clot more quickly than t-PA alone and has significant potential in stroke therapy. UC collaborates on a number of initiatives that promote entrepreneurial achievement and its vital contribution to economic growth. These include the creation of the Cincinnati SoundingBoard and OVALS, a regional conference on life sciences and the university's role as an economic driver. For further information visit

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