The Iowa Economic Development Authority board last week approved assistance for several projects throughout the state, including two innovation companies located in Coralville and Iowa City. IEDA awarded two startups with loans. Coralville’s Pani Clean, Inc. is focused on removing nitrates at the source, converting them to useful products and making clean water more affordable and accessible. Their product uses an electrochemical process to convert nitrate into nitrogen gas or green ammonia to be reused on site. The company was awarded a $50,000 Proof of Commercial Relevance loan for IP development and evaluation, proof of concept work and key personnel. Halide Biologics, Inc., based in Iowa City, uses the potential of chemical biology to enhance the pharmacological properties of protein therapeutics. The company designs novel halogenated protein drugs of increased stability to treat medical diseases and conditions. This work seeks to overcome the weaknesses of existing protein drugs currently in clinical use. The company was awarded a $50,000 Proof of Commercial Relevance loan for IP development and evaluation, proof of concept work, product refinement and key personnel.
