FOR IMMEDIATE RELEASE November 11, 2011
For more information please contact: SCRA Micki Howard 843.760.3329 office 843.697.9226 mobile micki.howard@scra.org
SC Launch Presents Two Big Checks During SCBIO/SC MedTech Event CharlestonPharma and PatientTrack PRM Each Receive $200,000
Charleston, SC - November 11, 2011 - SCRA's Technology Ventures program, SC Launch, presented a "big check" investment to two Charleston-area companies yesterday during the SCBIO/SC MedTech Conference. CharlestonPharma, LLC and PatientTrack PRM each received the investment following a keynote address by International BIO President and CEO Jim Greenwood.
CharlestonPharma, a cancer therapy company that was co-founded by a MUSC researcher and two veteran biotechnology executives, was the first to receive the investment during the presentation. The company develops fully human monoclonal antibodies to the cell surface receptor, nucleolin, which is over-expressed on a wide variety of tumor cells but is not detectable on the surface of the corresponding normal cells. This unique profile offers the potential for personalized therapy and selective toxicity with a first in class targeted agent having a broad spectrum of tumor activity.
"We are delighted to be the recipient of such constructive support as we work to bring important new therapeutic options to cancer patients," said CEO Brad Goodwin. "SCRA programs have provided laboratory and office space in the Charleston Innovation Center, and now financial support through SC Launch. We are thankful to have these resources that strengthen and enable our company to grow."
Another Charleston-area company, Patient Track PRM (Patient Relationship Management) was also presented a "big check." The company was formed to improve patient compliance and care outside of a clinical office visit. Patient Track PRM allows physicians to be proactive in the delivery of healthcare services by combining its Outreach Management functionality with Patient Database Mining to improve appointment compliance and identify patients with gaps in care based on current disease management and preventive care protocols.
"PatientTrack PRM is working to advance communications and outreach among patients and healthcare providers," said CEO Nicholas Glover. "It is an honor to accept this investment and it will truly support the company as we continue to develop."
"Recognizing promising companies with innovative technology is certainly a privilege that we enjoy," said SCRA Executive Vice President and SC Launch Executive Director Dave McNamara. "These dynamic companies are bringing valuable technologies to market and adding value to our state's Knowledge Economy."
With initial funding of $12 million in SCRA retained earnings, SC Launch has supported and funded over 188 start-ups in SC, provided business services through a powerful Resource Network to 230 early stage technology companies and helped position emerging South Carolina Knowledge Economy companies to secure more than $167 million in follow-on funding from angel, venture and other private capital sources. SC Launch has been recognized regionally, nationally and internationally for leadership in entrepreneurial support and technology-based economic development.
"SCRA is committed to the continued growth of South Carolina's Knowledge Economy," stated SCRA CEO Bill Mahoney. "We offer congratulations to these qualified emerging companies on this recognition, and look forward to realizing the growth and full potential that these homegrown technology companies can have in South Carolina."
About SCRA http://www.scra.org
SCRA is an applied research company with over 28 years of experience in delivering technology solutions with high returns on investment to federal and corporate clients. Our Applied R&D affiliate manages over 100 national and international programs worth over $1.5B in contract value, and our technology-based economic development affiliate helps early-stage companies to commercialize innovations and create jobs. In support of our mission, SCRA builds and manages research facilities that include wet labs, secure rooms for sensitive work and advanced high-tech manufacturing shops.