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Tech Council of Maryland Release: Area Life Science Companies Chosen To Make Presentations For Venture Funding At 2005 Mid-Atlantic Bio



10/19/2005 5:13:20 PM

ALEXANDRIA, Va., Oct. 12 /PRNewswire/ -- Fifteen companies demonstrating the diverse cross-section of the mid-Atlantic bioscience industry have been selected to present before venture capitalists at 2005 Mid-Atlantic Bio: The Conference for Industry and Investors, the region's premier biotechnology forum scheduled from October 26-27 at the Ronald Reagan Building and International Trade Center in Washington, DC.

The majority of companies selected are from the hosting states of Maryland and Virginia, with the balance coming from the two other leading biotech states in the mid-Atlantic, New Jersey and North Carolina. Selected companies represent a cross-section of industry sectors, with most coming from the therapeutic sector and the remainder focused on the diagnostics and tools categories. Regarding investment stage, most of the presenting companies are from the early/preclinical and clinical stages, with three seeking funding for expansion.

"The principal criterion for the companies we chose was that they be quality companies that represent fundable opportunities reflective of the current interests of investors," said Don Rainey, a partner in the Reston, Va. office of Intersouth Partners, who co-chaired the Selection Committee with Matt Zuga, managing director of Red Abbey Venture Partners, Baltimore, MD. "The slate of presenting companies provides a glimpse into the entrepreneurial environment of the mid-Atlantic biotech region. We are seeing more seasoned management teams with compelling science, intellectual property, technologies and business ideas which speak to the growth of this industry in the mid- Atlantic region."

"The diversity of the selected companies' investment stage and sectors reflects positively on the growth occurring within the life sciences industry," said Julia Spicer, Executive Director of MAVA. "We are pleased with the quality and strength of the companies that were chosen by our investor- driven selection committee. The Selection process and the overall investor portion of the 2005 Mid-Atlantic Bio conference was bolstered by the strong leadership and participation of veteran venture capital firms including: Anthem Capital, Boulder Ventures, The Carlyle Group, Emerging Technology Partners, H.I.G Ventures, Intersouth Partners, Maryland Venture Fund, MedImmune Inc., New Enterprise Associates, Quaker BioVentures, Red Abbey Ventures, Tall Oaks Capital, and Toucan Capital Corp."

The companies selected to present at 2005 Mid-Atlantic Bio are: * A&G Pharmaceutical, Inc. (Columbia, Md.) * Cerionx, Inc (Pennsauken, NJ) * Cylex Inc (Columbia, Md.) * DiaKine Therapeutics, Inc. (Charlottesville, VA) * Diffusion Pharmaceuticals LLC (Charlottesville, VA) * GlycoMimetics, Inc. (Gaithersburg, Md.) * Intradigm (Rockville, Md.) * MacroGenics (Rockville, Md.) * MaxCyte Inc. (Gaithersburg, Md.) * NeoDiagnostix (Rockville, Md.) * PharmAthene (Annapolis, Md.) * SCYNEXIS (Research Triangle Park, NC) * Sensors for Medicine and Science (Germantown, Md.) * Sequoia Pharmaceuticals, Inc. (Gaithersburg, Md.) * TissueGene, Inc (Gaithersburg, Md.)

The conference is a jointly-hosted regional event for the bioscience industry and the investor community, combining components of a regional industry convention and investor conference under one roof dedicated to promoting the growth of biotechnology in the Mid-Atlantic region. Mid- Atlantic Bio is hosted by four of the region's most influential bioscience and investor associations: The Mid-Atlantic Venture Association (MAVA), the Tech Council of Maryland (TCM), the Virginia Biotechnology Association (VaBIO), and MdBio.

As part of the 2005 Mid-Atlantic Bio program, executives from presenting companies are participating in several pre-conference programs, including a networking event and a one-day boot camp session to help prepare for the formal presentations before investors. This effort by the organizers was made to encourage collaboration beyond the one-day presentation.

Event information, registration, presentation, and sponsorship opportunities are available at http://www.midatlanticbio.org. Additional information is available by calling 703.683.5698.

About MAVA

Founded in 1986, MAVA represents the collective interests of venture capitalists investing in the mid-Atlantic, including 375 venture capital professionals at 126 firms, with more than $10 Billion in capital under management. For more information, please visit http://www.mava.org.

About the Tech Council of Maryland

The Tech Council of Maryland, now in its 18th year, is a non-profit membership consortium open to high technology firms, government laboratories, higher education institutions and business support firms that collectively form Maryland's technology community. For more information on the Council, visit http://www.mdhitech.org.

About VaBIO

VaBIO, the Virginia Biotechnology Association, is the 200-member statewide trade group that promotes the considerable scientific and economic impact of the life sciences industry in the Commonwealth of Virginia. For more information, visit http://www.vabio.org.

About MdBio

MdBio, Inc. is a private, non-profit corporation whose mission is to advance the commercial development of bioscience in Maryland. For more information, please visit http://www.mdbio.org.

CONTACT: Robert Udowitz, +1-703-621-8060, or Susan Muma, +1-301-651-4916, both for the Technology Council of Maryland.

Tech Council of Maryland

CONTACT: Robert Udowitz, +1-703-621-8060, or Susan Muma, +1-301-651-4916,both for the Technology Council of Maryland


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