Welcome to the fifth edition of the Slater Technology Fund E-News, designed to keep you informed of recent developments occurring at Slater and at its portfolio companies. We hope you enjoy this communication from Slater, and we look forward to sharing more exciting news with you in the months to come. For more information, call 831-6633 or visit www.slaterfund.com. |
| Slater Invests in Bionica |
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Slater has provided $250,000 in funding to Providence-based Bionica Corporation, developer of an innovative new personal communication system for the hearing impaired. The company will use the investment to increase research and development of its device prototype, expected for full-scale production and release by 2008.
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| Slater Provides Location, Inc. with $250K in Funding |
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Slater has invested in Woonsocket software developer Location, Inc. to accelerate the marketing and dissemination of its NeighborhoodScout online software program and real estate resource. The company specializes in Internet-based neighborhood search and information services. |
| Slater Funds Concordia's Latest Round |
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Slater has reinvested in Concordia Manufacturing of Conventry, R.I. The $250,000 commitment is part of a $1.5 million first closing on what is expected to be a larger equity round for the company to be completed later this year. Concordia will use the investment to fund facilities expansion and new equipment purchases at its headquarters, as it moves away from traditional textile manufacturing and toward biomedical R&D.
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| Advanced Image Enhancement Signs Licensing Agreement with Hologic |
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Advanced Image Enhancement (AIE), a provider of optimized image enhancement tools for digital mammography, has entered a licensing agreement with Hologic to offer its image enhancement software optimized for Hologic's Lorad Selenia digital mammography system. Hologic, a leading manufacturer of premium diagnostic and medical imaging systems for women's healthcare, will use the technology to aid in breast cancer screenings.
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| NABsys Scientists Receive NIH Grants |
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Providence gene sequencing company NABsys Inc. was awarded nearly $1 million in grants from the National Human Genome Research Institute, part of the National Institutes of Health. NABsys was the only private company to receive a grant, and will use the funding to hire additional scientists as it continues to raise additional funding to speed up its genome research.
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| WhyData Appoints Former Citizens Bank Chairman to Board of Advisors
WhyData, Inc. appointed former Chairman of Citizens Bank of Massachusetts Neal F. Finnegan to its Board of Advisors. Finnegan also served as Director of Citizens Financial Group and will help WhyData accelerate its momentum within the financial services industry as it continues to promote its Ability Suite, a web-based software solution for measuring, analyzing and reporting operational service performance, service quality and service risk.
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| Andera Enters a Strategic Alliance with Yodlee, Inc. |
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Andera has signed an alliance agreement with Yodlee, Inc., a the number-one provider of Instant Account Verification technology in the United States. Under the agreement, Andera will be the exclusive provider of account opening technology to Yodlee, and Yodlee will be the exclusive provider of account verification and funds transfer technology to Andera. Their combined solution will be available from both companies to all financial institutions.
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| Afferent Teams with Spaulding Rehab Hospital for Clinical Trial |
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Boston's Spaulding Rehabilitation Hospital has begun a clinical trial to explore the use of Afferent Corporation's new neurostimulation technology to improve post-stroke rehabilitation. The study will test the device's success in accelerating the regaining of arm function in stroke patients, and is Afferent's inaugual clinical trial in stroke treatment.
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| Slater-Backed Biomedical Company Attracts Federal Funding to Rhode Island Research |
Cyberkinetics Neurotechnology Systems has teamed with Brown University to participate in a five-year, $6.5-million grant from the National Institutes of Health. The money wil be used to further develop implants for restoring nuerological function and will engage Brown scientists in the research.
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| Thorne Sparkman to Speak on Technology Transfer |
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Slater Technology Fund Managing Director Thorne Sparkman will present at the National Council of Entrepreneurial Tech Transfer's University Startups 2007: "Enabling Innovation" Conference from October 3-5 in Washington, D.C. Sparkman will lend his expertise to a panel on facilitating technology transfer and enabling venture opportunities between the academic and private communities.
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| Slater Poised for Progress in Fiscal 2008 |
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Slater recently announced highlights for fiscal year 2007, which included nearly $1 million in capital recovery, more than twice the previous year's total. Slater's funding commitments for the year ended June 30, 2007 totaled $3.1 million to 11 technology-based ventures.
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