WASHINGTON – U.S. Senator Chris Murphy (D-Conn.) announced on Friday that FreeThink Technologies, a research and development company in Branford has been named “Innovator of the Month.”
FreeThink Technologies was founded in 2011 through the UCONN Technology Incubator Program (TIP). The company focuses on developing innovative technologies to accelerate the determination of shelf-life and stability for pharmaceuticals, consumer products, nutraceuticals and medical devices. Traditionally, the process to determine the expiration date for a product could take in excess of a year, but FreeThink’s ASAPprime® software enables the company to accurately determine the shelf-life in a matter of weeks. This product also enables the selection of the appropriate packaging configuration without the need for slow and costly packaging evaluations.
“Using innovative technologies to make processes easier is better for everyone. FreeThink Technologies is taking this approach, and companies around the world are noticing. I’m happy to highlight them as my ‘Innovator of the Month,’ and I’m excited to watch them continue to grow here in Connecticut,” said Murphy.
Kenneth C. Waterman, President of FreeThink Technologies said, “FreeThink has assembled a team of top scientists to solve complex problems and develop cutting edge technologies. We are having an impact bringing new talent into Connecticut and exporting our products to the global market.”
FreeThink is an analytical and formulation laboratory whose services are currently being utilized by 18 out of the top 20 pharmaceutical companies, as well as by a number of biotechs, and companies that produce generics and consumer products worldwide. The company helps clients shorten product development timelines in an effort to help expedite medical treatment. FreeThink employs 28 people at their headquarters in Branford, with additional representatives in New Jersey and Missouri, as well as globally in China and India.
Murphy believes entrepreneurship and innovation are the building blocks for a strong economy. In the U.S. Senate, he has introduced two bipartisan pieces of legislation to incentivize angel investors to put more money into startup companies – the Angel Tax Credit Act and the Helping Angels Lead Our Startups (HALOS) Act. Startup companies create an average of 2 million jobs each year.