FOR IMMEDIATE RELEASE October 13, 2011 For more information please contact: SCRA Micki Howard 843.760.3329 office 843.697.9226 mobile micki.howard@scra.org
Three SC Launch Companies Invited to Present at SEBIO Forum
Columbia, SC - October 13, 2011 - SCRA, on behalf of its SC Launch program, announced that three of its companies are invited presenters for the Early Stage competition at Southeast BIO's Annual Investor Forum. The Southeast BIO Investor Forum is the Southeast region's premier life sciences venture capital conference, connecting emerging life science companies with potential investors in a forum that provides opportunities.
South Carolina-based SC Launch companies Madeira Therapeutics and SphingoGene, Inc. of Mt. Pleasant, and Vitasol, Inc. of Columbia will present during the November event in Durham, North Carolina. Eight Main Stage presenters and 16 Early Stage companies were picked by a selection committee of regional and national venture capitalists to present during the forum.
"This is a great opportunity for these client companies to gain further recognition and investment," said SCRA Executive Vice President and SC Launch Executive Director Dave McNamara. "SC Launch companies have had great success in securing additional investments, and we wish these presenting companies the best as they make their pitch to potential investors."
Madeira Therapeutics Madeira Therapeutics was founded to develop new pharmaceutical products for unmet medical needs in the pediatric population. Madeira Therapeutics strives to ensure drug safety and efficiency for intended patients in the pediatric setting.
SphingoGene, Inc. SphingoGene, Inc. is a cancer therapeutic development company focused on sphingolipid metabolism, which is recognized as a key factor in tumor cell survival and metastasis. SphingoGene scientists have developed a portfolio of highly potent small molecule drugs that can affect this pathway and have established a substantial worldwide patent position in the field. A few of the Company's drugs are in late stage pre-clinical development and have demonstrated highly significant results to date.
Vitasol, Inc. Vitasol, Inc. is a biotechnology company dedicated to the research and development of novel therapies targeted toward emergency medicine and critical care. Vitasol's first product, RESUSCINEX™, is a patented, readily portable, injectable resuscitation fluid, which restores an emergency patient's critical body fluid levels more efficiently and cost effectively than currently used products, and with fewer undesirable side effects, all at a competitive market price.
"SEBIO participants have gone on to raise over $2.5 billion in public and private funding," said SCRA CEO Bill Mahoney. "We are proud to support our SC Launch companies as they continue to grow and make important contributions to South Carolina's Knowledge Economy."
Since its inception by SCRA in 2006, and with initial funding of $12 million in SCRA earnings, SC Launch has supported and funded 188 companies in SC, helped draw 11 landing parties to the state, provided business services to 230 early stage companies in SC through a powerful Resource Network and helped position emerging South Carolina companies to secure more than $140 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.
About SCRA http://www.scra.org
SCRA is an applied research company with over 28 years of experience building multi-organizational teams and delivering innovative technologies. Our economic development affiliate, SC Launch, helps early-stage companies to commercialize innovations and create jobs. Our ATI affiliate manages over 100 national and international applied R&D programs worth over $1.4B in contract value. SCRA-led teams deliver technology solutions with high transition rates and high ROI to Federal and corporate clients.
In support of both our applied R&D and economic development missions, SCRA builds and manages research facilities that include wet labs, secure rooms for sensitive work and advanced high-tech manufacturing shops.