Worcester , Mass. On Tuesday June 12, 2007, Crescent Innovations' was awarded the Kalenian Award. The award was presented at the monthly meeting of the WPI Venture Forum. Crescent Innovations will receive $25,000 in prize money to help develop its new technology for treating bone defects.

"We are deeply indebted to Paul Kalenian, his family and his colleague David Wolf," said Al Prescott, President of Crescent Innovations. "The Kalenian's believe that the entrepreneurial spirit must be fostered through funding, and they are leading by example. Personally, I look forward to the day when I too can follow their example."

The Kalenian Award, established in 2006 through the generosity of Alba Kalenian in memory of her late husband Aram (Class of 1933), provides seed funds to support and advance the ideas and inventiveness of WPI students, faculty and alumni(ae).

"I cannot emphasize enough how important this award is to us at Crescent Innovations. The technology we are developing to treat bone defects will ultimately have deep and far reaching benefits to everyone of the 50 million people in America who have ever had a bone fracture or defect," said Prescott. "We will use the money specifically to develop prototypes, and to push this technology to commercialization."

Crescent Innovations Inc. is a biomedical company based in Worcester, MA, and is developing technologies to treat TMJ disorders, degenerative joint disease, bone disease, fractures, and more. The company has received a Phase 1 SBIR Grant from the National Institutes of Health, and has worked with Fortune 500 companies. For more information about Crescent Innovations, please contact us.

For more information about Crescent Innovations Inc., please visit:
www.crescentinnovations.com

For more information on Worcester Polytechnic Institute, please visit:
www.wpi.edu

For more information on the Kalenian Award, please visit:
http://www.wpi.edu/Academics/Depts/MGT/CEI/Competitions/kalenian.html