WASHINGTON, April 19 /PRNewswire/ -- ASM Resources, Inc. (ASMR) announced today three new company financings and one followup investment for a total of $350,000 to date in 2004. ASMR, which invests in early-stage bioscience companies, provided funding for the first time to A&G Pharmaceutical, Inc.; Claragen, Inc.; and Marligen Biosciences, Inc. These companies join ASMR's growing portfolio of emerging companies. ASMR also announced followup financing for Scientific Products and Systems, Inc. (SP&S).
"We see great potential in these four companies and tremendous growth opportunity," said Christine Copple, PhD, President & CEO of ASMR. "A&G is forging ahead to develop clinical data for its diagnostic kits for breast cancer. Claragen is poised to capitalize on its clinical data and capture a partner to move its first drug indication forward. Marligen has growing revenues and is ready to capitalize on the rapidly expanding proteomics tools market. And SP&S is well positioned to address a substantial market opportunity by offering a more powerful and cost-effective alternative fluid dispensing system that delivers critical improvements in reliability, precision, and accuracy. These investments embody ASMR's commitment to identifying and supporting promising new companies with leading-edge innovations."
A&G Pharmaceutical, Inc. (http://www.agrx.net/), located in Columbia, Maryland, is a theranostics company focused on the rapid development of monoclonal antibodies to disease-specific antigens as a basis for novel therapeutic and diagnostic products addressing a broad range of diseases. ASMR's investment of $100,000 was part of a larger private financing that included New England Partners and the Maryland Department of Business and Economic Development that will be used to support ongoing operations and development of A&G's serum diagnostic kits for breast cancer.
Claragen, Inc. (http://www.claragen.com/), based in Rockville, Maryland, is a biopharmaceutical company developing products to treat lung disease, kidney disease, and cancer based on recombinant human CC10 protein. The Company's lead product in development is an anti-inflammatory agent targeting neonatal respiratory disease. ASMR invested $50,000 in Claragen in a round that included existing investors in the company. Proceeds will be used primarily for business development activities.
Marligen Biosciences, Inc. (http://www.marligen.com/), based in Ijamsville, Maryland, develops, manufactures, and distributes integrated solutions for high-throughput research in functional genomics. Marligen's products for analyzing variations in genes and their proteins enable researchers to rapidly prepare and test samples for dozens of molecular markers simultaneously, thereby conserving valuable samples and facilitating the profiling of multiple biomarkers. ASMR's investment of $100,000 will be applied to ongoing operations, sales, and marketing.
Baltimore-based Scientific Products and Systems, Inc. (SP&S) (http://www.spsonepump.com/) designs, develops, and markets precision fluid-handling dispensing systems to pharmaceutical and bioscience companies worldwide. SP&S's products are based on the company's proprietary, microprocessor- controlled OnePump(TM) technology, which employs FDA-compliant rotary positive-displacement pumps. These versatile stations answer an essential need of researchers to reliably dispense precise fluid volumes. Introducing a new level of performance to benchtop operations in research environments, the OnePump(TM) units are equally at home in pharmaceutical manufacturing lines. OnePump(TM) units can automatically perform quality control for each dispense cycle, produce an electronic log, and simplify the validation process for product manufacturing. ASMR's $100,000 investment in SP&S will be used to expand marketing and sales efforts.
ABOUT ASM RESOURCES INC.
ASM Resources (http://www.asmresources.com/) is the for-profit venture arm of the American Society for Microbiology focused on providing seed capital and expertise in financing and business development to support early-stage bioventures and help them plan for growth. Through our growing network of resources, ASMR promotes relationships among biotechnology and pharmaceutical companies, research institutions, economic development organizations, and institutional and private investors.
CONTACT: Rosel Halle of ASM Resources, Inc., +1-202-331-2906, firstname.lastname@example.org.
ASM Resources, Inc.