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"We are very excited to be able to continue seeding our region's growinglife sciences technologies," said John W. Manzetti, PLSG's President and CEO.Mr. Manzetti continued, "The PLSG Concept to Commercialization(TM) model andour deep understanding of the process, challenges and economic potential oflife sciences innovations allows us to move our regional technologies into themarketplace. We are happy to add MedRespond as a new PLSG investment portfoliocompany and we are also pleased to continue our support of the Biosafe andBlue Belt with follow-on investments. The investments we have made over thelast 2 months have totaled $1.7 million."
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The PLSG's $150,000 investment in Biosafe will help with the completion ofthree new development projects aimed at introducing new products to market:antimicrobial glass fillers for plastics; antimicrobial wipes or spray forhealth care facilities and preliminary data for therapeutic applications:anti-HIV gel and wound healing. Biosafe's antimicrobial HM-4100 providespeace-of-mind protection and real world product defense against threateningmicroorganisms. Bacteria, fungi (mold and mildew), yeast, viruses and algaewill not grow or live on a HM-4100 treated surface. It is designed to dovetaildirectly into many common manufacturing processes such as plastic molding,liquid formulating, spray finishing and metal coating for permanentprotection.
The PLSG's $200,000 investment in Blue Belt Technologies will enable thecompany to continue development of its Precision Freehand Sculpting(TM) (PFS)system, a solution that reintroduces robotics into the operating room toenable safer, faster and more accurate treatment of osteoarthritis and otherbone related conditions. PFS will address the challenges of minimally invasivesurgery, with the goal of improving patient outcomes and lowering healthcarecosts. The PFS's first target procedure is spinal laminectomy. It isanticipated that in 2008 there will be 146,000 laminectomies done in the U.S.,the largest age group 65+. The surgeon's need for accuracy, safety and areduction in procedural time, coupled with the patient's desire for aminimally invasive procedure, combine to make this procedure ideal for theBlue Belt PFS.
The PLSG's $220,000 investment in MedRespond will help with market andsales positioning and pipeline development to drive product sales. MedRespondwas established to commercialize a Carnegie Mellon University patented"search" technology known as the Synthetic Interview (SI)(TM) (now rebrandedas the Custom Conversation(TM)) for exclusive use within healthcare to drivemore efficient and effective dissemination of health related information bypharmaceutical companies, healthcare providers, non-profit organizations andgovernment agencies.
SI's have been identified by Business Week as one of the "21 toptechnologies for the 21st century." The technology provides an interactiveinformation exchange that simulates one-to-one conversation and MedRespond hasbuilt robust commercial tools around it. Custom Conversation(TM) givesMedRespond clients the opportunity to offer an engaging, compelling Webpresence, featuring user-driven video interaction with experts relevant to theinformational needs of targeted users.
About the Pittsburgh Life Sciences Greenhouse (PLSG)
The PLSG invests in and supports the growth of biosciences companies insouthwestern Pennsylvania. The PLSG has investment and business growthprograms to increase the linkage between research, technology andcommercialization; nurture and develop entrepreneurial biosciencesenterprises
