Welcome to the tenth 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 Medical Software Firm RxVantage |
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Slater has provided $500,000 in a first round of funding to RxVantage, a Providence-based company that has developed a centralized calendaring and communication software solution for physicians and pharmaceutical representatives. RxVantage's software gives physicians greater control and more options for efficiently exchanging important information and ideas with healthcare and pharmaceutical companies.
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| NABsys Closes $4M Equity Round Led By Point Judith Capital |
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Genome sequencing company NABsys has completed a $4 million round of funding, led by Point Judith Capital with co-investment from Slater and other previous investors. Since inception, Slater has invested an aggregate of $725,000 in NABsys, including an initial funding commitment of $225,000 in 2004, an additional $250,000 as part of a larger undisclosed financing in 2007, and $250,000 in this most recent equity round. NABsys will use the money to further develop its proprietary DNA sequencing platform.
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| Andera and Digital Insight Join to Provide Online Account Opening Services |
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Providence-based Andera has partnered with Digital Insight, the leading outsourced provider of online banking and financial management capabilities to U.S. banks and credit unions. Under the agreement, Digital Insight will provide Andera's online account opening and funding solutions to its client financial institutions.
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| Myomics' Discovery Platform Seeks Drugs for Muscular Dystrophy |
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Providence-based Myomics has developed a technology platform for identifying compounds as therapy for muscular dystrophy and hopes to advance promising candidates into clinical trials. Published in this month's issue of prominent industry publication The Journal of the Federation of American Societies for Experimental Biology, Brown University professor and company co-founder Herman Vandenburgh, Ph.D., is the first to grow functional cell lines that mimic human muscle function. The company is now working in collaboration with Dr. Brian Tseng, head of the DMD clinic and lab at MassGeneral Hospital for Children, and a faculty member at Harvard Medical School.
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| Creative Circle Partners with Newspaper Software Firm |
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Creative Circle Advertising has signed an agreement to partner with Advanced Technical Solutions, Inc. of Acton, MA. The first two joint products from the companies include a new editorial content management system for newspapers that can manage both print and online editions, and a merged system for managing print and Web classified ads. They also worked together in 2006 to create The Chicago Tribune's Triblocal online and print initiative.
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| ProThera Co-Founder Profiled in The Providence Journal's "What's Next" Column |
ProThera Biologics' chief scientist and founder Yow-Pim Lim, M.D., Ph.D., was profiled by The Providence Journal in June, indicating that funding has been approved by the National Institutes of Health for the commencement of human clinical trials of the company's lead product, a promising treatment for sepsis, a major cause of life-threatening infection and inflammatory disorders. Dr. Lim came to RI Hospital in 1990 as a post-doctoral researcher, became a member of the faculty at Brown Medical School in 1993, and launched ProThera with Slater backing in 2002.
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| MoFuse Launches New Premium Business Solution
Providence-based MoFuse has introduced its newest mobile platform, MoFuse Premium for Business, which allows companies to recreate their web sites more impressively for mobile by offering options for customization in layout and design, and greater capabilities for building deeper sites for viewing on wireless devices.
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| RI-CIE Celebrates Opening |
The Rhode Island Center for Innovation and Entrepreneurship (RI-CIE), a joint initiative involving Brown University, the State of Rhode Island, and the city of Providence, officially opened its doors to the community on April 28th. As a founding member and financial sponsor, Slater will work closely with RI-CIE as it ramps up programs in support of innovation and entrepreneurship in Rhode Island. Co-located in Davol Square in Providence's Jewelry District, RI-CIE and Slater hope to accelerate the development and commercialization of technologies originating in RI-based research labs.
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| Slater Celebrates Spring with Sushi |
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More than 100 local entrepreneurs and investment community members gathered at the Edgewood Yacht Club on May 14 for sushi and stimulus talk at the Slater Networking Night. Thanks to all who attended and helped to make the night a success. We hope you enjoy these periodic get-togethers and find them of value. Stay tuned for more on our next event! |
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