PITTSBURGH, Feb. 17 /PRNewswire/ -- The Pittsburgh Life Sciences Greenhouse (PLSG), the premier life sciences seed and early-stage investor in western Pennsylvania, has surpassed the $13 million mark in committed investments. The PLSG's $13.2 million in direct investments in nearly 60 companies has attracted over $400 million in additional capital for the region. The PLSG continues to propel the growth of western Pennsylvania's life sciences economy by enabling the commercialization of promising life sciences technologies through its Investment and Executive Programs.
"Since hitting our $10 million investment milestone in the spring of 2008, we have continued to prime the commercialization pipeline and have made 25 additional investments, nine of which were in new companies," said John W. Manzetti, PLSG President & Chief Executive Officer. "As each of us is aware, the current business climate and funding market are very uncertain. Everywhere you look, read and listen there are warnings about the scarcity of capital and the continued downturn of the economy." Mr. Manzetti continued, "Accordingly, we have made adjustments to our plan so that we can continue to evaluate, help develop and invest in additional promising life sciences innovations, while we help secure the sustainability of our existing portfolio companies."
The nine new company investments include; Biomed Research & Technologies, Inc., Blacktown NC LLC, Caliber InfoSolutions, Inc., Chronic Health Metrics, Circadiance LLC, Complexa, LLC, Flexicath Ltd., NeuroInterventional Therapeutics, Inc. and Wright Therapy Products.
Biomed Research & Technologies, Inc. is a therapeutic company developing products based on its proprietary "pro-lipid" technology. Pro-lipid technology stimulates the body's own skin cells to produce the full complement of skin lipids necessary to maintain the optimum barrier function of the skin. The Company's product
|SOURCE Pittsburgh Life Sciences Greenhouse|
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