In February 2006, Alerion Biomedical Inc was acquired by Canadian firm ART Advanced Research Technologies Inc. Founded initially in 1997 as MetaProbe LLC, by Research Corporation Technologies and the California Institute of Technology and subsequently renamed Alerion Biomedical, Inc, the firm grew to encompass a broad range of drug-delivery and medical imaging technologies. As MetaProbe (imaging contrast agents), the firm licensed exclusive worldwide rights to the University of Michigan's iodinated triglyceride (ITG) and lipid emulsion (LE) technologies used in molecular imaging and drug delivery. The firm used the technologies to detect, stage, and treat hepatobiliary and vascular disorders. renamed Alerion Biomedical, the firm licensed other drug delivery and medical imaging technologies developed at the University of Michigan and the California Institute of Technology
