Navigation Links
PA Helping Life Science Companies Secure Venture Capital Needed to Expand, Gov. Rendell Says
Date:9/8/2009

$5 Million Loan Will Leverage $15 Million in Private Investment for Promising Western PA Companies

HARRISBURG, Pa., Sept. 8 /PRNewswire-USNewswire/ -- Early-stage life science companies in western Pennsylvania will be able to expand and create quality jobs with the help of a state investment in venture capital, Governor Edward G. Rendell said today.

"The life sciences are a growth sector for Pennsylvania," said Governor Rendell. "This industry creates opportunities for Pennsylvanians to obtain high-skill, high-wage jobs and has huge potential to be a major economic driver for the state."

The Commonwealth Financing Authority today approved $5 million for Pittsburgh-based Corridor Ventures through the New PA Venture Capital Investment program.

"This investment offers Corridor Ventures additional resources to boost up-and-coming Pennsylvania companies, put Pennsylvanians to work and spur our economy. We get a great return-on-investment," the Governor said, noting that Corridor Ventures is expected to leverage an additional $15 million in private funds to be used to invest in between six and eight early-stage life science companies in western Pennsylvania.

The New PA Venture Capital Investment program is a key component of Governor Rendell's original economic stimulus package through which the commonwealth provides loans to venture capital firms to invest in high-growth companies.

The program was authorized to provide $60 million in loans to venture capital fund managers and leverage another $180 million in private equity for a total investment of $240 million in Pennsylvania's economy. To date, $45 million of the $60 million available has been committed.

For more information on the New PA Venture Capital Investment program or Pennsylvania's other venture capital initiatives, visit '/>"/>

SOURCE Pennsylvania Office of the Governor
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2

Related biology technology :

1. Aidas Rh-Apo2L Clinical Testing Shows Preliminary Efficacy in Helping to Treat Lung Cancer, Stomach Cancer, Lymphoma, Pancreatic Cancer & Kidney Cancer
2. Siemens Building Technologies Helping Companies Participate in EPA Labs21 Movement With Comprehensive Compliance Solution Strategy
3. In the Midst of International Economic Crisis, VidaCura Offers a Helping Hand to Those Without Insurance
4. Global Vision Recognized for Helping Pharmaceutical Companies Achieve Complete Artwork and Copy Accuracy in their Packaging Process
5. Bioamber announces worlds first bio-based succinic acid plant: helping to reduce dependence on fossil fuels
6. Helping Young Women Succeed in Todays Unpredictable World
7. Value-Based Insurance Design: Helping Employers Improve the Value of Health Care
8. YM BIOSCIENCES ANNOUNCES COMPLIANCE WITH AIM RULE 26
9. Selection of Development Candidate Triggers $0.5 Million Milestone Payment to Ardea Biosciences, Inc.
10. ImmuneRegen BioSciences Files 8-K that Highlights Enclosed Shareholder Letter Discussing Recent Achievements and Outlook
11. Advanced Life Sciences Announces Receipt of Nasdaq Staff Letter
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/15/2014)... January 15, 2014 DTS Language Services, ... Online Web Portal for Life Science organizations who need document ... the subject matter of their documents in advance with a ... reduce time-to-delivery of translations, often a critical factor in clinical ...
(Date:1/15/2014)... Freeslate, Inc ., the leading provider ... Limited, one of India’s top five pharmaceutical companies, has ... for high throughput solid form screening. , ... wide range of quality, affordable generic and branded formulations ...
(Date:1/15/2014)... , Jan. 15, 2014 TaiGen Biotechnology Company, ... exclusive agreement with R-Pharm, a leading Russian pharmaceutical company, ... the Russian Federation , ... Independent States (CIS). Nemonoxacin is a novel antibiotic for the ...
(Date:1/14/2014)... DC (PRWEB) January 14, 2014 Carahsoft ... for Thursday, January 23, 2014 at 2pm EST (11am ... Knowledge.” The topic focuses on how technology can turn ... critical decisions for government agencies. The online webinar will ...
Breaking Biology Technology:DTS Improves Efficiency for Life Science Document Translations 2Lupin Selects Freeslate’s CM Protégé PharmD System to Accelerate Polymorph Screening for Drug Development 2Lupin Selects Freeslate’s CM Protégé PharmD System to Accelerate Polymorph Screening for Drug Development 3TaiGen Biotechnology Signed Exclusive License Agreement with R-Pharm for Nemonoxacin (Taigexyn(R)) 2TaiGen Biotechnology Signed Exclusive License Agreement with R-Pharm for Nemonoxacin (Taigexyn(R)) 3TaiGen Biotechnology Signed Exclusive License Agreement with R-Pharm for Nemonoxacin (Taigexyn(R)) 4Webcast - Natural Language Processing: Converting Raw Data into Actionable Knowledge – Hosted by Carahsoft and CDS Federal Services 2
... Systems Inc.,(Amex: PLC ) today announced that it ... dated September 17, 2008 from the Listing,Qualifications Department staff ... Company was not in compliance with Section 1003(a)(ii) of,the ... less,than $4,000,000 as of June 30, 2008, and it ...
... 18 SyntheMed, Inc. (OTC,Bulletin Board: SYMD), a ... anti-adhesion, drug delivery products and other,surgical implants, announced ... the,AdvaMed 2008 MedTech conference being held in Washington, ... and CEO of SyntheMed, is scheduled,to present on ...
... NOVATO, Calif., Sept. 18 BioMarin,Pharmaceutical Inc. (Nasdaq: ... article released by Bloomberg this morning. The article ... Chief Executive Officer of,BioMarin, held on September 17, ... is consistent with the,information previously released publicly:, ...
Cached Biology Technology:PLC Systems Receives Delisting Notice From American Stock Exchange 2SyntheMed To Present at the AdvaMed 2008 MedTech Conference 2BioMarin Corrects Information Included in Bloomberg Article 2BioMarin Corrects Information Included in Bloomberg Article 3
(Date:4/23/2014)... A biomedical engineer at the University of Houston ... make blood transfusions safer. His work is supported by ... Health (NIH). , Blood transfusions save millions of ... absolute necessities. Without them, for instance, routine surgeries would ... however. There,s strong evidence that transfusions of red blood ...
(Date:4/22/2014)... secret to get your child to behave at the dinner ... Cornell study published in Eating Behaviors , found that ... bite with their front teeth such as drumsticks, whole apples, ... when these foods had been cut. "They were twice ... other kids," said Brian Wansink, Professor and Director of the ...
(Date:4/22/2014)... Biotechnology scientists must be aware of the broad ... guidelines, according to a new paper from Rice University,s ... current issue of the journal Regenerative Medicine , ... Supreme Court ruling in the case Association for Molecular ... are unpatentable. The court case and rulings garnered discussion ...
Breaking Biology News(10 mins):UH biomedical engineer works to make blood transfusions safer 2UH biomedical engineer works to make blood transfusions safer 3Biting vs. chewing 2New patenting guidelines are needed for biotechnology 2New patenting guidelines are needed for biotechnology 3
... http://www.biologists.com/ ) organises and supports a themed conference as the ... of Experimental Biology . The main aim of this annual ... varied expertise on one particular subject. It is a leisurely ... social side of science is also catered for an ...
... survive chemotherapy leaving the door open to recurrence ... an original method for imaging and analyzing many thousands ... drug affects each one. For research student ... in the lab of Prof. Uri Alon of the ...
... The University of Nottingham have been involved in a scientific ... be more likely to suffer from the chronic skin condition, ... the journal Nature Genetics , shows that people who ... be affected by psoriasis. These two genes appear to be ...
Cached Biology News:Survival in a Changing World: The Journal of Experimental Biology 2009 symposium 2Weizmann Institute scientists discover how cancer cells survive a chemotherapy drug 2Missing genes link to psoriasis 2
... Disrupts biological cells for DNA isolation. ... well plates (includes 96 well plate ... lysis across the entire plate length ... Can be used for soil, ...
Request Info...
GBL Antibody...
Dnase and Rnase free...
Biology Products: