BioAdvance Greenhouse Fund Commits $1.5 Million in Seed Financing to Three Regional Life Science Companies
9/12/2008 8:38:27 AM
PHILADELPHIA--(BUSINESS WIRE)--BioAdvance, the Biotechnology Greenhouse of Southeastern Pennsylvania, today announced new seed-stage investments totaling $1.5 million in three emerging life sciences companies in Southeastern Pennsylvania. With these new investments, BioAdvance has now committed almost $14 million in 24 life sciences companies and 13 academic medical research projects. BioAdvance’s investments have enabled its portfolio companies to leverage an additional $900 million in subsequent capital into the region, including up to $400 million from the sale of Protez Pharmaceuticals to Novartis in July.