Welcome to the ninth 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 Mobile Web 2.0 Firm Mofuse |
|
Slater has provided a first round of funding to Providence-based Mofuse, which develops technology to give bloggers and other content publishers the ability to publish their content seamlessly to the mobile web. Founded in August 2007, the company now has over 12,000 blogs in its network of publishers.
|
| Slater Commits $500,000 to Drug Discovery Start-up |
|
Slater has invested in P&H Therapeutics, a new company based in Providence and currently developing second-generation drugs to treat hypertension and dyslipidemia. The company's primary focus is on the renin inhibitors compound class that has the potential to improve bioavailability and decrease side effects associated with current therapies.
|
| Slater Funds WaveSyndicate |
Slater has provided Providence-based WaveSyndicated with $350,000 in funding to further product development. The company, currently working with several early stage customers, helps bloggers and web site operators attract, engage, and retain their valuable online visitors by enabling those "curators of content" and their advertisers to understand and optimize the value of online video.
|
| Slater Increases Investment in Tizra |
|
Slater has committed an additional $150,000 to web publishing solution company Tizra. This latest round brings Slater's total investment in the company to $650,000, and is part of an onging financing round that so far totals $350,000.
|
| EpiVax Wins NIH Grant for Diabetes Treatment |
|
Providence-based EpiVax, Inc. has received a $600,000 grant from the National Institute of Diabetes and Digestive and Kidney Diseases, a division of the National Institutes of Health (NIH), to develop a new therapeutic for the prevention and treatment of Type 1 diabetes.
|
| Concordia Celebrates Its New $1.6-Million Medical Manufacturing Facility
State officials joined CEO Randal Spencer and EVP Art Burghouwt to announce the opening of Concordia's new 25,000-square-foot office and manufacturing facility, located at 60 Commerce Drive in Warwick, R.I. The site will accommodate the relocation and expansion of Concordia's biomedical products business, financed in part through equity investment from Slater and equipment financing from RIEDC's Small Business Loan Fund (SBLF).
| |
| Location Inc. Launches NeighborhoodScout Neighborhood Search Tool |
Woonsocket-based Location Inc. has launched its fully integrated new neighborhood search engine, NeighborhoodScout.com. The site lets consumers enter their personal criteria for a neighborhood, and use the results to instantly focus their house hunt on those neighborhoods that best match their criteria.
|
| Neurotech Celebrates Opening of New Biomanufacturing Facility |
Governor Donald L. Carcieri and RIEDC Director Saul Kaplan joined CEO Ted Danse in cutting the blue ribbon on a new 27,000-square-foot GMP manufacturing facility in Cumberland, R.I. With support from RIEDC and its RIIFC/IRBA financing programs, Neurotech was approved for $4 million in funding to help pay for the cost of equipping the facility.
| |
|
|
|
| Slater-Backed Ventures Attract Additional Private Investment in 2008 |
|
|
|
Slater recently announced highlights for fiscal year 2008, which included a total of $3.1 million in funding commitments to eleven different companies. Of the eleven transactions, seven were follow-up investments in ventures that had received previous Slater funding. Five of the seven included co-investment by private investors alongside Slater's investment with such parallel funding more than doubling Slater's contribution.
|
|
|
