Navigation Links
Venture Capitalists to Invest in Promising PA Life Science Companies, Governor Rendell Says
Date:5/14/2009

Pittsburgh & Philadelphia Firms to Help Stimulate Biotech Sector

HARRISBURG, Pa., May 14 /PRNewswire-USNewswire/ -- Pennsylvania is setting the stage for future opportunity and innovation while expanding its reputation as a leader in the life science industry, Governor Edward G. Rendell said today as he announced investments in three venture capital firms that will help stimulate growth in the state's rapidly developing bio-technology sector.

"In Pennsylvania, we realize the life science industry's potential to be an engine for job creation and economic development," said Governor Rendell. "By using our resources, we are equipping local venture capital firms with the support they need to attract companies that will not only create skilled jobs and contribute to our economy, but will have the potential to develop the next big medical innovation.

"Especially during challenging economic times, it's critically important that we continue to invest in our economy to spur private sector investment and put more people to work."

The Commonwealth Financing Authority today approved $5 million in new investments to three firms through the New PA Venture Capital Investment program that provides loans to venture capital firms to invest in growth-stage companies.

These three firms are expected to leverage an additional $15 million in private investments that will be used to support more than 20 early stage Pennsylvania companies.

MentorTech Ventures, Philadelphia, in partnership with the University of Pennsylvania, received $1 million to invest in early stage companies in the technology and life science sector; NewSpring Health Capital, Radnor, received $2 million to invest in biotech, healthcare services and medical devices; and Pittsburgh Life Science Greenhouse Accelerator Fund will receive up to $2 million to invest
'/>"/>

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

0

GOOD

Page: 1 2

Related biology technology :

1. Ohio Ranks Best in the Midwest for Venture Capital Investment in Health Care Bioscience Industry
2. Biopure Gives Update on Malaysia Joint Venture Discussions
3. Hank Plain Joins Morgenthaler Ventures as Partner
4. Dan Broderick Joins Prolog Ventures as Partner
5. DiObex Inc. to Present at BIO Mid-America Venture Forum
6. Siemens and Xintek Form Joint Venture to Develop Nanotechnology-Enabled Multi-Pixel X-ray Tubes
7. Altheus Therapeutics Secures $3.6 Million in Venture Capital
8. Corium International, Inc., Announces $40 Million Financing led by Essex Woodlands Health Ventures
9. Gilde Healthcare Partners Closes EUR 150 Million European Healthcare Venture Fund
10. Elbit Medical Imaging Ltd. Announces that Plaza Centers Has Entered into a Joint Venture Partnership to Develop Residential and Office Projects in Romania
11. Vivo Ventures Expands Team with the Addition of James Huang as an Executive in Residence

Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2009)... SINGAPORE, Dec. 2 S*BIO Pte Ltd t...l JAK2 inhibitor, SB1518, at The American Society ...n New Orleans. ,, Data will be presented on the... trial of SB1518 detailing its safety, tolerabilit...ile in dose levels ranging from 100 to 600 mg. The...
(Date:12/2/2009)... SHANGHAI, Dec. 2 /PRNewswire-Asia/ -- The world ...in turmoil and uncertainty is part of many,busines...ndustry has been,relatively immune to the economic.... , During the midst of the difficult tim...p; Johnson inaugurated an R&D center in Shangh...
(Date:12/1/2009)...E VILLAGE, Nev., Dec. 1 ...nnounced revenue guidance for the fourth quarter e...n, as compared with $69 million for the fourth qua...lts was the first of two installment payments of $...h quarter 2008 results was a one-time $1.8 million...
(Date:12/1/2009)...UTH, Mass., Dec. 1 Harvest Technol...y results from the company sponsored 60-patient cl...Center in Chennai, India using the company,s BMAC ...Critical Limb Ischemia (CLI). Sri Ramachandra Medi...ciated institution based in Chennai, India and one...
Breaking Biology Technology:S*BIO Novel Oral JAK2 Inhibitor SB1518 Demonstrates Safety and Tolerability in Phase 1 Studies for the Treatment of Myeloproliferative and Other Hematological Disorders 2S*BIO Novel Oral JAK2 Inhibitor SB1518 Demonstrates Safety and Tolerability in Phase 1 Studies for the Treatment of Myeloproliferative and Other Hematological Disorders 3S*BIO Novel Oral JAK2 Inhibitor SB1518 Demonstrates Safety and Tolerability in Phase 1 Studies for the Treatment of Myeloproliferative and Other Hematological Disorders 4S*BIO Novel Oral JAK2 Inhibitor SB1518 Demonstrates Safety and Tolerability in Phase 1 Studies for the Treatment of Myeloproliferative and Other Hematological Disorders 5Pharma and Biotech Leaders to Converge in China at Asia Pharma R&D Leaders 2010 Summit 2Pharma and Biotech Leaders to Converge in China at Asia Pharma R&D Leaders 2010 Summit 3PDL BioPharma Provides Fourth Quarter 2009 Revenue Guidance of Approximately $57 Million 2PDL BioPharma Provides Fourth Quarter 2009 Revenue Guidance of Approximately $57 Million 3Harvest Technologies Announces Trial Results in its India Study Using BMAC to Treat Patients With Non-Reconstructable Critical Limb Ischemia 2Harvest Technologies Announces Trial Results in its India Study Using BMAC to Treat Patients With Non-Reconstructable Critical Limb Ischemia 3
...hat up to 30% of coffees ordered as "decaf&qu...now for sure with D+CAF, the first do-it-yourself ... leader in at-home water quality testing ( www.caf...ia, CA (PRWEB) November 12, 2008 -- Ever wonder wh...ecaf? Now you can know for sure with new D+CAF, t...
...E:,GSK) announced today that Gemstone Acquisition ...commencing a cash tender offer to purchase all,out...logies, Inc. (Nasdaq:,GNLB), for $1.30 in cash wit...xes. The tender offer is being made pursuant to a ...dated October 29, 2008 among Genelabs,Gemstone and...
...:,ADL), a vertically integrated pharmaceutical com...d today preliminary third quarter earnings and,rev...arter of FY2008, AMDL expects gross sales to be,ap...s promotions of,approximately $9.2 million. Gross ...n and income from operations to be approximately $...
Other Biology Technology:Is Your Decaf Really Decaf? Use New "D+CAF (tm) Caffeine Test Strips" to Know for Sure 2GlaxoSmithKline Commences Tender Offer to Acquire Genelabs Technologies, Inc. 2GlaxoSmithKline Commences Tender Offer to Acquire Genelabs Technologies, Inc. 3AMDL Announces Preliminary Third Quarter Earnings; Revises 2008 Guidance 2AMDL Announces Preliminary Third Quarter Earnings; Revises 2008 Guidance 3
(Date:11/30/2009)...s of The Journal of Experimental Biology are ple... National de la Recherche Scientifique (CNRS) in t...r of this year,s JEB Outstanding Paper Prize. ,T...ng achievement and is intended to encourage young ...-in-Chief, and adds that ,we truly appreciate when...
(Date:11/30/2009)...led invasion proteins are crucial for infection. E...man cells, which stimulates the host cell to take ...s exert a different function, for example the regu...,s results have now been published in the current ... Spoiled meat is one of the sources for Listeria ...
(Date:11/30/2009)...tage of lower early bird registration rates and re...ngress of 2010 at http://www.iofwco-ecceo10.org/ ... the International Osteoporosis Foundation (IOF) a...Aspects of Osteoporosis and Osteoarthritis (ESCEO)...ld are expected to attend. The exciting scientific...
Breaking Biology News(10 mins):French scientist wins the Journal of Experimental Biology Outstanding Paper Prize 2009 2French scientist wins the Journal of Experimental Biology Outstanding Paper Prize 2009 3French scientist wins the Journal of Experimental Biology Outstanding Paper Prize 2009 4It takes 2 to infect 2Happier healthier more productive hens on omega 3 3F 9233 1Happier healthier more productive hens on omega 3 3F 9233 2Secure eHealth and DRM Security Partner to Provide Most Secure Healthcare Network Available 51456 1Secure eHealth and DRM Security Partner to Provide Most Secure Healthcare Network Available 51456 2Secure eHealth and DRM Security Partner to Provide Most Secure Healthcare Network Available 51456 3Patient Enrollment Complete for Phase I II Clinical Trial for GALNS for Morquio A Syndrome 51451 1Patient Enrollment Complete for Phase I II Clinical Trial for GALNS for Morquio A Syndrome 51451 2Patient Enrollment Complete for Phase I II Clinical Trial for GALNS for Morquio A Syndrome 51451 3Patient Enrollment Complete for Phase I II Clinical Trial for GALNS for Morquio A Syndrome 51451 4
...nternational clinical trial, a new drug that selec...tive in preventing acute kidney transplant rejecti...eatment. , Patients who took the experimental dru...29Y), also had better kidney function and experien... standard anti-rejection drugs, including kidney d...
...sts have tracked down the biological trigger that ...sfiguring bone disorder that can cause blindness a...g-range gene regulation and could lead to new trea...isorders. , A research team from Lawrence Livermor... Novartis Institutes for BioMedical Research in Sw...
...of the first molecular studies of the human antibo... Institute (HHMI) researchers and their colleagues... immune systems need to spot and quash this often-...p scientists improve the existing vaccine, which h...en, an HHMI international research scholar and ass...
Other Biology News:New type of rejection blocker protects kidneys after transplant 2New type of rejection blocker protects kidneys after transplant 3New type of rejection blocker protects kidneys after transplant 4Researchers track down cause of a disfiguring bone disorder 2Researchers track down cause of a disfiguring bone disorder 3Fragment of yellow fever virus may hold key to safer vaccine 2Fragment of yellow fever virus may hold key to safer vaccine 3
...pathic effect inhibition assays, also known as CPE...ue culture supernatents; serum from PK studies and... is defined as the quantity of interferon required... viral infection by 50%. All standards used in o...
Topoisomerase I from Invitrogen
... type I eukaryotic topoisomerase that removes both...lled right- and left-handed supercoils) from coval... covalently closed, circular DNA with fewer positi...se I does not absolutely require Mg 2+ to functio...
Eco RII (Bst NI) from Roche Applied Science
Biology Products: