Welcome to the seventh 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 Provides Genome Corp. with Second Round of Funding |
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Slater has reinvested in Providence gene-sequencing venture Genome Corp. with a second $250,000 round. Genome Corp. aims to utilize its proprietary and massively parallel implementation of Sanger sequencing to become the primary low cost provider of sequence data.
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| Neurotech Expands Manufacturing Capacity in RI |
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In connection with the recently announced ground-breaking financing structured by the Rhode Island Economic Development Corp., Slater worked closely with colleagues at RIEDC. Slater has been involved with Neurotech, which develops sight-saving therapeutics for chronic eye diseases and plans to locate a new manufacturing plant in Cumberland, since its initial investment in 2000. The biopharmaceutical company expects the plant to come on-stream by mid-2008.
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| Three Slater-Backed Companies Win STAC Grants |
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Bionica Corporation, NABsys, Inc. and ProThera Biologics companies were recently named recipients of the Rhode Island Science and Technology Advisory Council's (STAC) annual Rhode Island Research Alliance Collaborative Grants for their work in personal communication for the hearing impaired, gene-sequencing technology, and anti-inflammatory therapies for pregnancy complications.
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| Myomics, Inc. and CellCure Merge, Receive $1.1 Million in Grants |
Myomics, Inc. and CellCure, Inc. have combined by way of merger in a transaction which brings together two independent ventures with overlap among the respective companies' scientific founders. Focusing on the discovery and screening of compounds to treat neuromuscular disease indications, the new company has been awarded $1.1 million in grant funding from the National Institutes of Health and the National Science Foundation.
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| EpiVax, Inc. Reports Record Revenues in Most Recent Fiscal Year |
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Slater-backed venture EpiVax Inc., a leader in the emerging field of computational immunology, reported in excess of $2.5 million in revenues for the fiscal year ended December 31, 2007. Based upon significant increases in grants and contract income, the record results also reflect execution of the company's second significant partnering transaction with a major pharmaceutical company.
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| Cryowave Receives SBIR Grant |
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Cryowave has been awarded $750,000 by the Small Business Innovation Research Program for its advanced thermoacoustic expansion technology and energy recovery products, designed to improve systems efficiency and productivity in a variety of industrial processes.
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| Advanced Image Enhancement CEO Wins IEEE Award
Michael Duarte, founder and CEO of Advanced Image Enhancement (AIE), has been recognized by the Institute of Electrical and Electronics Engineers (IEEE) with its prestigious Electrotechnology Transfer Award for the adaptation and modification of his wavelet-based digital enhancement method used in the detection of undersea mines to create proprietary software that enables physicians to extract more information from medical images. The annual award honors the contributions of civilians who have led efforts to effectively transfer/apply federal-sponsored developments in advanced electrical, electronic and computer technologies to a successful commercial sector.
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| Two Online Publishers Go Live on Tizra's Agile PDF |
Two publishing organizations have launched custom branded, paid content web sites using Tizra's online publishing software. Cabozon Books, publishers of the eat.shop series of city guides, and Rate It Green, a web startup supporting the green building community, have both brought their book-based content to the web with the Agile PDF solution.
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| WhyData Software Deployed by Silicon Valley Bank |
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WhyData, Inc.'s Account-Ability software solution has been implemented by Silicon Valley Bank to improve operational execution in standardizing the company's loan factories service as it capitalizes on new growth opportunities in Europe and Asia. Pawtucket-based WhyData develops web-based software solutions for measuring, analyzing and reporting operational service performance, service quality and service risk. | |
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| Thorne Sparkman Discusses the Start-Up Funding Conundrum in American Venture |
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Slater Managing Director Thorne Sparkman offers his tips for attracting top-tier talent to new ventures in the latest issue of American Venture magazine. In "Solving the Start-Up Funding Conundrum," Sparkman delineates how best to recruit star personnel to improve companies' chances at securing funding in their early stages. |
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