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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.

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SOURCE Allied Minds, Inc.
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