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CIT GAP Funds Invests in OTraces, Inc.
Date:6/17/2008

pid growth and downstream private equity financing. Based on the success of the original GAP Fund, in 2007, with an investment by Johnson & Johnson, CIT launched the GAP BioLife Fund, a specialized follow-on fund investing exclusively in life science companies.

"This investment advances health care technology and economic opportunities, as well," noted Tom Weithman, CIT GAP Funds Managing Director. "This marks the twenty-ninth investment of our GAP Funds, which have, in turn, attracted over $22 million in private equity for new Virginia companies."

Summaries of the CIT GAP Funds portfolio companies are available at http://www.citgapfund.org/portfolio/gapfundI.html.

About the Center for Innovative Technology, http://www.cit.org

CIT is a nonprofit corporation that accelerates the next generation of technology and technology companies. CIT creates new technology companies through capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology startup companies and advanced technology consumers. CIT is now listed on the GSA MOBIS Schedule, Special Item Numbers (SINs) SIN 874-1 for Consulting Services and SIN 894-2 for Facilitation Services. Its CAGE Code is 1UP71.

CONTACT:

Hap Connors

Center for Innovative Technology

703-689-3048

hconnors@cit.org

Lindsay Hyman

Qorvis Communications

202-683-3238

lhyman@qorvis.com


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SOURCE Center for Innovative Technology
Copyright©2008 PR Newswire.
All rights reserved

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