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Investment Firm Allied Minds to Commercialize New Frozen Aliquotter Technology with Two Local Major Universities.
Date:7/2/2008

Harvard University and Northeastern University Technology Receive Funding From Allied Minds to Commercialize Novel Technology for the Extraction of

Aliquots

BOSTON, July 2 /PRNewswire/ -- Allied Minds, a pre-seed investment corporation specializing in early stage university business ventures, Harvard University's Office of Technology Development, and Northeastern University announce the creation of CryoXtract Instruments, LLC, a new spin-out focused on the extraction of aliquots from frozen biological samples.

The frozen aliquotter technology was developed for the purpose of extracting small quantities (aliquots) from vials of frozen biospecimens without exposing the samples to freeze-thaw cycles that can damage the biological integrity of the samples. The patent pending CryoXtract technology uses a hollow core drilling apparatus to extract a frozen core under cryogenic conditions that preserve sample integrity. This technology also allows the aliquot sample to be obtained in a shorter amount of time than with the standard thaw/re-freeze method, allowing higher throughput of samples. There are more than 500 million stored samples in the U.S., the majority of samples being frozen liquid specimens.

The CryoXtract technology was developed by Mr. Dale Larson while at Harvard University Medical School, in collaboration with Dr. Jeffrey Ruberti, Associate Professor of Mechanical and Industrial Engineering and others at Northeastern University.

"The frozen aliquotter serves an untapped market space with a clear need for this technology. We are very pleased to be launching this new company with Harvard and Northeastern," says Allied Minds Director, Vincent Chun.

The initial funding for CryoXtract Instruments is being provided by Allied Minds. To learn more about CryoXtract Instruments, please visit http://www.cryoxtract.com.

About Harvard University's Office of Technology Development

The Harvard Office of Technology Development (OTD) is responsible for all activities pertaining to the evaluation, patenting and licensing of new inventions and discoveries made at Harvard University and Harvard Medical School. OTD also serves to further the development of Harvard technologies through the establishment of sponsored research collaborations with industry. OTD's mission is to promote the public good by fostering innovation and translating new inventions made at Harvard into useful products available and beneficial to society.

About Allied Minds, Inc.

Allied Minds is a pre-seed investment company creating partnerships with key Universities to fund corporate spinouts resulting from successful early stage technology research. By providing corporate development support as well as finance, Allied Minds aims to guide early stage companies to commercial success, thereby generating value for all stakeholders. For additional information, please visit http://www.alliedminds.com.

About Northeastern

Founded in 1898, Northeastern University is a private research university located in the heart of Boston. Northeastern is a leader in interdisciplinary research, urban engagement, and the integration of classroom learning with real-world experience. The university's distinctive cooperative education program, where students alternate semesters of full-time study with semesters of paid work in fields relevant to their professional interests and major, is one of the largest and most innovative in the world. The University offers a comprehensive range of undergraduate and graduate programs leading to degrees through the doctorate in six undergraduate colleges, eight graduate schools, and two part-time divisions. For more information, please visit http://www.northeastern.edu.


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SOURCE Allied Minds, Inc.
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