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Pennsylvania Governor Rendell Says Australian Software Firm To Establish New Company XBio Systems; Create 60 Technology Jobs To Support Biomedical Research And Clinical Trial Management


6/26/2006 2:03:33 PM

HARRISBURG, Pa., June 23 /PRNewswire/ -- Governor Edward G. Rendell today announced a new technology company is coming to Harrisburg, a direct result of the state's international business development efforts to attract foreign investment.

The Governor said Australian firm Genix Bioventures plans to create at least 60 technology jobs by establishing startup company XBio Systems in Harrisburg. The company will provide software and related services to support biomedical research and clinical trial management throughout the U.S. and the world.

"For the past three and a half years, we have been focused on attracting new jobs and investment to Pennsylvania," Governor Rendell said. "That has included tapping our international representatives through DCED, who cover more than 54 countries, to attract foreign investment.

"Genix Bioventures is just one of the global businesses that has seen the advantages of doing business in the commonwealth. They recognize our highly skilled workforce, our access to markets and the quality of life we offer."

Representatives from DCED met with the founder of Genix Bioventures in Sydney last year. The state is offering an investment package to XBio Systems of $162,000.

"Pennsylvania is a leader in software and computer networking technologies," the Governor added. "Attracting a new startup like XBio Systems further enhances our reputation and leadership in the technology industry."

"We chose Pennsylvania because it offered relatively cheap access to high-quality resources and infrastructure as well as proximity to our target market with 70 percent of the U.S. life sciences sector located within a two-hour radius of our Harrisburg base," said Steven Godinho, president and CEO, XBio Systems Pty Ltd. "It is unlikely we would have made the move to Pennsylvania without the support we received from DCED, the Governor's Action Team and the Life Sciences Greenhouse of Pennsylvania."

The Life Sciences Greenhouse of Pennsylvania was also instrumental in bringing XBio Systems to the commonwealth with its $750,000 worth of equity support for the project.

"Central Pennsylvania has the ability to attract foreign firms like XBio and, just as importantly, foreign capital. This is a testament to central Pennsylvania's growing influence within the life sciences industry," said Mel Billingsley, Ph.D., president and CEO of the Life Sciences Greenhouse of Pennsylvania. "Not only are we generating and nurturing Pennsylvania-born startups, we're also attracting outside firms and investors who recognize this region's advantages of geography, workforce, infrastructure and intellectual capital."

The Life Sciences Greenhouse of Pennsylvania was created under Act 77, the Tobacco Settlement Act of 2001. The organization partners with a range of institutions, including local research universities, colleges, medical centers, economic development agencies and companies, to identify needs and opportunities.

The $100 million Life Sciences Greenhouse initiative provides Pennsylvania with a flexible mechanism for the commercialization of biotechnology and other life sciences business opportunities by accelerating technology transfer, enhancing collaboration and attracting new business.

The Governor's Action Team, under DCED, serves as a single point of contact for businesses that are interested in locating or expanding in Pennsylvania. Since January 2003, the Governor's Action Team has successfully completed 669 projects statewide resulting in commitments for the creation of nearly 68,722 new jobs and the retention of 180,466 existing positions. The commonwealth has offered more than $1.18 billion in assistance for these projects, which will leverage more than $8.7 billion in additional investment.

The mission of the Office of International Business Development and its three centers (Center for Trade Development, Center for Direct Investment and the Center for Ports) is to contribute to the growth and strength of the commonwealth's economy by attracting foreign direct investment to the commonwealth and providing value-added services to Pennsylvania companies and ports. There are currently 20 Pennsylvania-authorized international representatives covering more than 54 countries across the world.

Genix Bioventures, the parent company of XBio Systems, recently acquired the life sciences assets of Neuragenix Pty Ltd, an Australian company that provided software and services to the financial services and life sciences industries. Neuragenix was established in November 2001.

For information on the Governor's Action Team, Office of International Business Development and other DCED programs, visit http://www.newPA.com or call 1-866-GONEWPA (1-866-466-3972).

To learn more about XBio Systems' parent company Genix Bioventures and Neuragenix, visit http://www.neuragenix.com.

The Rendell Administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses. To find out more about Governor Rendell's initiatives and to sign up for his weekly newsletter, visit his Web site at: http://www.governor.state.pa.us.

CONTACT: Kate Philips 717-783-1116 Penny Kline (DCED) 717-783-1132

Pennsylvania Office of the Governor

CONTACT: Kate Philips of Pennsylvania Office of the Governor,+1-717-783-1116; Penny Kline of DCED, +1-717-783-1132


Read at BioSpace.com

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