Press Coverage
Early Stage Funding Looking Up
A recently-released study from the National Association of Seed and Venture Funds and Temple University's Fox School of Business found that seed-stage investments are up 40% over last year. The Pittsburgh Business Times reports that the study, which compared the 12 months ended March 31 with the previous year, indicates a "positive step" for the economy as shown in results from surveying 650 NASVF member funds and organizations. While the study showed a 10% increase in the percentage of companies able to access commercial bank funding, it also shows that there is a great need for seed funding for companies in Pittsburgh. Read the complete article at the Pittsburgh Business Times.
May 18, 2010 | Permalink
ThinkVine Helps Determine "What If" Strategies
Since 2007, ThinkVine has been helping marketers answer the "What would happen if ..." question as it relates to proposed marketing efforts on a target audience. Using its The Emerging Marketplace software, the company creates simulated consumers based on scientific expertise on how real people behave in the marketplace; enabling companies to gage how consumers will react to marketing investments. Although this type of agent-based modeling isn't new, ThinkVine is one of the first to apply the concept to market optimization. Learn more about the technology and ThinkVine the company at www.thinkvine.com.
February 9, 2010 | Permalink
Patients, Physicians Rely on ChemoFx to Support Treatment Decisions
ChemoFx(R), a test produced by Precision Therapeutics, is a drug response marker that shows promising results in helping to determine individual cancer treatment plans. ChemoFx has pioneered a method of identifying cancer cell response and sensitivity to various chemotherapeutic and biologic agents at the biopsy stage, providing a custom blueprint of a patient's probable tumor response before treatment begins. The national trend has patients acting as partners in making cancer treatment decisions, and ChemoFx can help provide another layer of information to those decisions. Learn more at www.ChemoFx.com.
February 4, 2010 | Permalink
CardioInsight Takes its Work to Heart
An article out of Cincinnati highlights CardioInsight Technologies. The Cleveland-based company is working to develop the first non-invasive, real-time, beat-to-beat simultaneous mapping solution for the treatment of cardia arrhythmias and heart failure; the technology takes non-invasive images of the heart's surface. The mapping and localization technology could be critical to ongoing efforts to improve the diagnosis and treatment of heart conditions.
November 19, 2009 | Permalink
ClearCount Absorbs Errors
An article in the Pittsburgh Tribune Review, highlights the revolutionary SmartSponge system from ClearCount Medical Solutions which uses RFID chips to track surgical sponges in the operating room.
November 19, 2009 | Permalink
ClearCount: A Top Health Innovation of 2009
ClearCount Technologies has been named one of the Top 100 Health Innovations of 2009 by Popular Science magazine, as part of its Best of What's New Awards. The awards honor the top 100 technologies in 11 categories. Read the full release here. Congratulations, ClearCount!
November 10, 2009 | Permalink
Bill Egan: Business Times CFO of the Year
CFO of BitArmor Systems, William Egan, was named CFO of the Year in the Small Private Company category of the annual Pittsburgh Business Times awards. Egan led and orchestrated a recent fund-raising effort in which BitArmor raised nearly $5 million in venture capital earlier this year, attracting 15 new investors. Learn more about BitArmor at www.bitarmor.com and see the rest of the award winners at the Pittsburgh Business Times.
November 9, 2009 | Permalink
ClearCount Named Runner-Up in WSJ Awards
The SmartSponge System from ClearCount Medical Solutions, an innovator of patient safety solutions for the operating room, was named a runner-up under the medical devices category in the Wall Street Journal's 2009 Technology Innovation Awards. ClearCount was one of four companies recognized in the Medical Devices category, and will be honored at an awards cermony October 13 held in conjuction with the Dow Jones VentureWire Technology Showcase. Visit www.clearcount.com for more information.
September 15, 2009 | Permalink
ClearCount Medical Solutions to Appear in TIME Magazine
An article profiling ClearCount Medical Solutions' Smart Sponge System will appear in the 3.4 million copies of Time Magazine to be mailed to subscribers next week. The Smart Sponge System uses radio-frequency identification (RFID) technology to automate surgical sponge counting and enhance patient safety. Memorial Sloan-Kettering Cancer Center in NYC became the first hospital to switch to the SmartSponge System earlier this spring. Read the article here, and visit www.clearcount.com to learn more about this technologically-sophisticated sponge system.
June 9, 2009 | Permalink
7 Pittsburgh Companies Get $41M in 3Q
According to an article in the Pittsburgh Business Times, seven Pittsburgh companies received a combined $41.36 million in venture, angel and government funding during the third quarter of 2008, the largest third-quarter infusion in five years. Almost all of the companies are in the life sciences/biotech category. Draper Triangle participated in three of the financing rounds: Aethon, ClearCount Medical Solutions and Entermedia, where the companies raised a combined $18.26 million.
October 30, 2008 | Permalink
Aethon Listed as One of Seven Techs that Could Change Healthcare
An article on forbes.com calls out Aethon as one of the "Seven Technologies that Could Change Health Care." Noting that many of the advances in health care come from start-ups and not typical health-care giants, the article highlighted Aethon as a company poised to take advantage of the huge opportunites presented by the need for better, less expensive care. Aethon's TUG allows health care workers to focus on patient care and leave the supply-delievery to the robots. Read more at www.aethon.com.
August 28, 2008 | Permalink
Aethon Makes JR Tug Available to Children's Hospitals
Aethon Inc. has announced the general availability of its train-themed "JR" autonomous mobile robot to children's hospitals across the country, and will make a donation to the national Make-A-Wish Foundation for each JR TUG that is deployed. Modeled after the title character in the children's book "The Little Engine That Could," JR was originally developed to help grant a wish for 7-year old leukemia patient, Jericho Rajninger, in Larkspur, CA and was donated to the UCSF Children's Hospital through the Make-A-Wish Foundation. Jericho believed that having medications delivered by a robot modeled after a train might make the prospect of taking the pills more pleasant for sick children. In addition to UCSF Children's Hospital, the Children's Hospital of Wisconsin also employs a JR TUG, and Levine Children's Hospital in NC has agreed to place one into service early this fall. For more information on purchasing JR, visit http://www.aethon.com/contact.html.
August 8, 2008 | Permalink
Qlique Keeps the (Online) Party Rolling
"Qlique is the super-party host that keeps the party going, helping people to break the ice in fun, casual and hilarious ways." says an article on www.popcitymedia.com. The website lauched a beta version in Pittsburgh on June 30th, and plans a nationwide rollout in the fall. Qlique's unique technical platform allows users to meet people in their geographic area and visit places with friends in real time. Games like "Grill Me" and "Q-Factor Quizzes" keep the action going. Founder and CEO Andy Field says, "Our absolute drive is to have a brand that says you're going to get great, laugh out loud stuff."
July 10, 2008 | Permalink
DFJ's Warren Packard Speaks at XU
Warren Packard, managing partner at DFJ, recently spoke at a meeting of the Greater Cincinnati Venture Association at Xavier University. In a related article in the Cincinnati Enquirer, Packard explains that DFJ views deals often seen as risky by other firms, as "an opportunity to change the world" and that adopting a "beta-stage investment approach, [allows us to] end up with bigger home runs." With the regionalization of DFJ through local funds, known as the DFJ Network, Packard says the venture firm is looking to find entrepreneurs who "want to change the world - from their hometown." Read the full article here.
June 19, 2008 | Permalink
Cognitive Tutor Working in NYC
A recent story on WABC in New York brought to the forefront the success Carnegie Learning's Cognitive Tutor is helping to achieve at the High School for Health Professions and Human Services in Manhattan. Students who have failed ninth-grade math are using the program when they repeat the class. Assistant Principal for Math, Jeanette Tomasullo-Morelli, noted that in 2006 (before the program), only 20% of students repeating the class passed. By "June 2007, the percentage rate went up to 52%." For a video of the story, visit the WABC-TV website.
April 24, 2008 | Permalink
Venture Opportunities Growing in Pittsburgh
Pittsburgh entrepreneurs have a distinct advantage over their counterparts in other major cities ... A MoneyTree Report ranks the Pittsburgh region as the nation's second-fastest-growing area for venture capital investment over the past decade according to the number of companies receiving funding. Seattle, DC and Los Angeles all fell in behind Pittsburgh and only New Mexico's VC investing is growing faster. Last year, 44 Pittsburgh companies received $198.17 million, compared to 12 companies receiving $32.32 million in 1997, the study said. The number of companies grew 267 percent while total investment soared a study-topping 513 percent. Apparently, the country's most-livable city isn't so bad for growing businesses either!
March 11, 2008 | Permalink
Innovation Works Funds 100th Company
2007 was a great year for Innovation Works. Last year, the organization invested in its 100th company since 1999, its portfolio of technology-related firms garnered $117 million in follow-up investment, and it funded seventeen start-up companies, the most since the organization began. Jay Katarincic believes that Innovation Works has perfected the "model" to convert entrepreneurial ideas into thriving companies. Read an article in the Tribune Review about a recent celebration of Innovation Works held at the Pittsburgh Technology Center.
January 22, 2008 | Permalink
Landslide, Plextronics and RSI: Pop City Companies to Watch in 2008
The Pop City list of the Top Exciting Companies to Watch in 2008 is out, and Plextronics, Landslide and Renal Solutions have made the list of 13 top technology companies in Pittsburgh. Plextronics, the world leader in developing active layer technology for printed electronic devices, has raised $41 million in equity capital over the last five years ($20.6 million last year) and plans to double the number of employees to 100 by the end of this year. Landslide, a pioneer in sales workstyle management, currently employs 35 in the US (more abroad) and plans to hire 30 more in the coming year. Renal Solutions recently was acquired by Fresenius Medical Care of Germany for $200+ million, and all of its 40-50 employees, as well as its operations, will remain in Pittsburgh.
January 17, 2008 | Permalink
Pittsburgh Business Times CFO of the Year Awards
Sean Rollman, CFO of Plextronics, has been honored as the Pittsburgh Business Times 2007 CFO of the Year in the Small Private Company category; and Vita Fontana, CFO of Plan4Demand, was a Finalist in the same category. Since joining Plextronics in 2006, Sean has helped the company raise $35 million, $16 million from venture capital. Sean's latest goals for Plextronics include doubling the company's size in the 12 to 18 months and building a manufacturing line. At Plan4Demand, Vita is often called upon to step out of the boundries of finance and deal with legal issues. The role of CFO in a small company encompasses many disciplines -- finance, strategy, legal -- and these two CFO's have done an outstanding job in meeting those demands. Congratulations!
November 13, 2007 | Permalink
TEQ Interface: Tom Futch, BodyMedia
In the September, 2007 edition of TEQ Magazine, Tom Futch, VP Sales & Marketing for BodyMedia, talks about obesity, the healthcare crisis and how BodyMedia is uniquely positioned to fill the information needs of both doctors and patients as we all work toward a healthier lifestyle. With the launch of SenseWear WMS, healthcare facilities and their patients can track vital health indicators (glucose, blood pressure, daily nutrition, sleep patterns and more) using three components (armband, display and website) to get an accurate picture of "true" lifestyle. Read the full interview on the Tech Council website.
October 11, 2007 | Permalink
Imago Helps to Map Semiconductor Atoms
Using atom-probe tomography to pinpoint arsenic dopant atoms in silicon, researchers from Imago Scientific Instruments and IBM, are now able to understand how the dopant is distributed through the silicon in semiconductors. The mapping shows that dopant atoms form spheroidal clusters around defects in the silicon, drastically affecting the functionality of the devices, especially as the size of the devices continue to decrease into the tens-of-nanometer range. These atomic plots are crucial in understanding how to make silicon transistors even smaller, without impairing electronic performance. Visit www.imago.com to learn more.
September 13, 2007 | Permalink
DFJ Network Profiled in Private Equity International
In the September 2007 issue of Private Equity International, DFJ Managing Director, Don Wood, opens up about DFJ's affiliate network and its plans for international expansion. Starting with Tim Draper's vision to create a network of independent, locally-based DFJ-branded funds that share information, manpower, deals and economics, the DFJ Network has grown to encompass 4 continents, 21 funds and $5.5 billion under management. Don defines the affiliates as a "mesh network" where the members interact with each other, not just DFJ, and says that's what makes it infinitely scalable. To read more about the DFJ Network visit www.dfj.com.
September 13, 2007 | Permalink
P4D Officially "Cool"
Plan4Demand Solutions was recognized in a recent article by ARC Advisory Group entitled "10 Coolest SCM Boutique Consultants". The article, published on the ARC Advisory Group website, states that ARC narrowed down its list of top 10 coolest SCM boutiques from a roster that originally included more than 1,000 companies; Plan4Demand was one of two firms that focus primarily on implementing supply chain planning solutions and the only one headquartered in North America. The article cites Plan4Demand's long history of supply chain planning experience, growth across multiple industry vertical markets, and advances in practices like SAP APO.
August 14, 2007 | Permalink
TOA Technologies on Forbes.com
Yuval Brisker recently sat down with Jennifer Lee of Forbes.com to talk about TOA Technologies and the benefits his company brings to both cable companies and their customers. Watch the interview here.
July 31, 2007 | Permalink
Robots Lighten Nurses' Load
Transporting instruments, specimens and meals around hospitals typically has been relegated to the nurses -- at enormous expense to hospitals. In response, Aethon introduced TUG, the hospital robot that can do the transporting for just $2.85 per hour, leaving the nurses time to spend with patients. Aethon plans to release the latest version of its TUG, the T2.5, later this summer. Upgrades will include the ability to autonomously attach and detach itself to and from carts holdng pumps, IVs, prescriptions and more -- in effect, allowing TUG to switch roles in the hospital with just the push of a few buttons. Read the article on Business2.0's website.
July 31, 2007 | Permalink
Mobile Robots - The Real Deal
An article in ComputerWorld proclaims that the market for mobile robots has changed, and people are now trying to find new ways to use them -- mobile robots have moved out of the science fiction realm and are now bona fide commercial solutions. Case in point? Aethon's TUGs are now in use in hospitals all over the country. FirstHealth of the Carolinas employs 6 TUGs for pharmacy and supply deliveries, and is considering adding to its fleet to expedite food tray and lab specimen deliveries. Read the full article here.
July 26, 2007 | Permalink
P4D One of ARC's 10 Coolest SCM Boutique Consultants
Plan4Demand Solutions was chosen as one of the 10 Coolest Supply Chain Management Boutique Consultants by ARC Advisory Group, the thought-leader in manufacturing, logistics and supply chain solutions. Plan4Demand, the favorite company in the category of Supply Chain Planning system implementation, was chosen from a list of 1000 companies. Read the full report here.
July 24, 2007 | Permalink
Entrepreneurial Funding Looking Up in Pittsburgh
In a recent article in the e-zine, Pop City, Pittsburgh venture capitalists spoke out about the future of entrepreneuship and venture funding in Pittsburgh. The article states that new companies received $230 million in investment dollars -- the largest growth in VC investment of any area in the country. Don Jones believes that today's angels are helping to develop successful companies, who, in turn, help develop other successes. "What we need is to reach a critical mass for the domino effect to be self-perpetuating. There needs to be families of successful companies that spin off each other." For the full article, check out popcitymedia.com.
July 17, 2007 | Permalink
Landslide Quoted in CRM Magazine
In an article in the July 2007 issue of CRM Magazine, Razi Imam, CEO of Landslide Technologies comments on the need to align CRM capabilities with business processes in order for technology to be leveraged effectively. The article stresses the importance of having a sales methodology before trying to implement technology into the process.
July 10, 2007 | Permalink
The Math Problem in America
A Special Report in eSchool News highlights the ongoing scrutiny of how math is taught in U.S. schools. A 17-member National Mathematics Advisory Panel appointed in 2006 by President Bush, has been charged with advising U.S. policy makers and educators on the effectiveness of various approaches to teaching mathematics. Currently, U.S. students were ranked 15th in eighth-grade math skills, and much disagreement exists on the best way to teach students math skills. Carnegie Learning, and technology-based math instruction, is one of the methods being researched. Red more about the future of math education on the eSchool News website.
April 19, 2007 | Permalink
Patrick McGregor Presses Retailers to Make ID Theft Changes
In an editorial piece in the Pittsburgh Post-Gazette, Patrick McGregor, president and CEO of BitArmor Systems, challenges all retailers to embrace more comprehensive information security. Citing the recent security breach at TJX Companies, Patrick asserts that any company who accepts credit card information must update their systems with new security solutions that automatically encrypt information from the moment of creation to guarantee persistent protection wherever the information moves or resides. The cost of encrypting data is miniscule when compared to the tremendous cost of recovering after a breach of customer data. BitArtmor Systems is an enterprise encryption vendor. Visit BitArmor's website for the full article, and more information on high-level data encryption.
April 3, 2007 | Permalink
bodybugg: A Cool Tool
dLife Today has proclaimed the bodybugg armband from BodyMedia a "Cool Weight Loss Tool". The wearable monitor tracks the number of calories you're burning...not only when you're exercising, but even when you're partaking in "mundane activities" like pumping gas or taking a nap. Although priced higher than your typical pedometer, when coupled with the interactive website which tracks your calories with your food intake, the bodybugg may be worth the added expense when considered from a "weight loss utility perspective".
March 29, 2007 | Permalink
Governor's Alternative Energy Plan Looks Good to Plextronics
Pennsylvania Governor Ed Rendell announced a new Energy Independence Strategy last week, which would provide $850 million to spur alternative energy development. Although it still needs to be approved by the Legislature and the Public Utility Commission, the plan seems to bode well for alternative energy companies to locate significant operations in Pennsylvania. In a Pittsburgh Business Times article, Andy Hannah, CEO of Plextronics, said appoval of the plan would "have a major impact in terms of where we locate [manufacturing facilities]." The strategy is designed to provide cost savings, while promoting the development of alternative energy within the state. Read the full article on the Business Times website.
February 13, 2007 | Permalink
Landslide Earns Nod from Small Business Technology Magazine Labs
Touted as "slick and powerful," Landslide received accolades in the newest issue of Small Business Technology Magazine as a Product of the Year Finalist in the Software as a Service (SaaS) Category, edging out the more well-known Salesforce.com. Author Patrick Cook called Landslide an "intriguing newcomer to the SaaS sales force automation space [which] proved a well thought-through application". For more information, visit the Landslide website.
February 1, 2007 | Permalink
TOA Technologies Provides Solutions for Scheduling
According to an article in the Wall Street Journal, cable providers are recognizing the customer satisfaction nightmare that comes along with the four-hour waiting window for service calls. Most of the large companies are now looking for ways to improve the in-home appointment experience for their customers, including shortening the wait window and improving communications between customer and company. As mentioned in the article, TOA Technologies provides a solution for making the appointment scheduling process easier for the company and therefore more efficient and satisfactory for the customer. Learn more about TOA on their website.
January 25, 2007 | Permalink
Patrick McGregor: Top 40 Under 40
In the January issue of American Venture Magazine, Patrick McGregor, CEO of BitArmor Systems, is named one of the Top 40 Entrepreneurs Under 40 Years Old. The selection was based on achievements and ground-breaking efforts in the following areas: vision, leadership, development strategies, innovation and achievement. Although the article is available only to subscribers, you can read more about Patrick and BitArmor on the company's website. Congratulations!
January 9, 2007 | Permalink
Landslide Hits Inc. Magazine
In the December 2006 issue of Inc. Magazine, an article on the future of sales-oriented technology names Landslide as one of the "Sales 2.0" solutions for getting more out of salespeople. The article outlines the benefits of guided selling systems and highlights a case study of how Aethon's VP of Sales uses Landslide's technology to help his salesforce improve their sales performance.
December 5, 2006 | Permalink
BitArmor Profiled on EnterpriseIt Planet
Entitled "Security Startup Thrives in an ILM World," an article from EnterpriseIt Planet profiles BitArmor Systems and its BitArmor Security Suite Version 2.0. In the article, BitArmor VP of Marketing Mark Buczynski states that his company's product is different from PKI (public key infrastructure) systems in that "it automates key management and makes the management, deployment, and enforcement of data security easy, intuitive, and transparent to end users." BitArmor also provides value at the end of the regulatory compliance lifecycle as it relates to the "safe harbor" rule of the Federal Rules of Civil Procedure. Visit BitArmor's website for a link to the complete article.
November 26, 2006 | Permalink
PA in Top 5 for Venture Deals in 3rd Quarter
An article in the Pittsburgh Business Times notes that almost $60.9 million in venture capital was invested in nine Pittsburgh-area companies, helping to push Pennsylvania into the top 5 states in terms of deals for the 3rd Quarter of this year. Draper Triangle's investment in Plextronics made up a portion of that total. Local companies received the largest combined third-quarter infusion of venture capital in years, second only to the $70 million raised in 2001.
October 31, 2006 | Permalink
Robots Join Staff of Adventist Hospital
The newest employees at Seventh-day Adventist-owned Florida Hospital work 24 hours a day, seven days a week, never take a break, and wouldn't think of asking for a raise. Amid the usual flurry of doctors, nurses, and patients, you're likely to find them scurrying along the hospital's hallways with linens, meals, and other supplies in tow. These new employees are three robots called TUGs. Hospital staff says they've already proved to be helpful and dependable. Designed by Aethon, the robots "eliminate repetitive tasks like pushing carts and running errands" to "ensure [hospital] caregivers are spending their valuable time taking care of patients," says Mike Thompson, Florida Hospital Celebration Health assistant administrator. [Florida Hospital/ANN Staff]
August 31, 2006 | Permalink
Carnegie Learning Proves Technology Helps Teaching
In an article in Pittsburgh TEQ, Dennis Ciccone, CEO of Carnegie Learning, talks about how the company's Cognitive Tutor brand blends intelligent software tutoring, textbooks and teacher instructional materials to increase the chance of success in math for U.S. middle and high school students. Carnegie Learning's mathematics curricula is used in all 50 states by about 375,000 students. Recent upgrades to its Algebra 1, Geometry and Algebra II core products will ensure that the company is positioned for a martket that is embracing its proven approach to learning. Read the complete article on the Tech Council's website.
August 29, 2006 | Permalink
Carnegie Learning EdNET 2006 Impact Award Finalist
The Heller Reports, a QED (Quality Education Data) company and leading provider of education market news and events, has named Carnegie Learning a finalist for the EdNET 2006 Impact Award. This award recognizes the organization that has made the most significant impact on education through quality educational support and instructional resources. Award winners will be announced on September 19, 2006 during the EdNET Conference in Boston. Visit QED's website for more information about the awards program.
August 10, 2006 | Permalink
Carnegie Learning Tops in eSchool News Readers' Choice Awards
According to readers of eSchool News, Carnegie Learning's curricula are among the best software products for delivering math insturction. More than 1,000 readers voted in the 2006 eSchool News Readers' Choice Awards announced in the August issue of the publication. Carnegie Learning placed among the top five curricula in four categories. According to eSchool News, to ensure the global competitiveness of U.S. students, educators are turning to software and other computer-based options to engage students. The full eSchool News 2006 Readers' Choice results are available at eSchool News.
August 8, 2006 | Permalink
Intelligent Enterprise Puts Haley Authority to the Test
Haley Authority was recently put to the test by Rajan Chandras in Intelligent Enterprise. The reviewer found Haley Authority to be a "well-designed solution" that "offers a compelling alternative in the marketplace for enterprise decision management." Read the full article here.
August 1, 2006 | Permalink
SalesGene Hits Growth Spurt
Since officially launching as a company and releasing its first product, Landslide, in February, SalesGene has more than 300 salespeople using its system, nearly doubled its employee base and begun to secure venture capital to help the company grow and reach profitability, so says an article in the Pittsburgh Business Times. The current version of Landslide (a new version is due in August) helps companies come up with a consistent way to close deals by taking the best practices of an organization and making them available to everyone on the sales team. Visit Landslide's website for more information.
June 22, 2006 | Permalink
FirstHealth Moore Regional Hospital Finds Value in Tug
Two of Aethon's Tugs now roam the halls of FirstHealth Moore Regional Hospital in North Carolina, and a third is expected to arrive in the next few months. The Tugs are the only robots of their kind in the state, and they've proven themselves to the staff as valuable assets -- delivering medications all over the hospital. The robots can be tracked on a wall-mounted flat-screen monitor in the pharmacy department. Each receiving department has its own drawer in the file cabinet which can only be unlocked by entering the proper code. The Tugs primarily carry medications, but have the capacity to carry loads up to 400 pounds.
May 4, 2006 | Permalink
Precision Therapeutics Closes on $20 Million in Venture Funding
Precision Therapeutics has raised $20 million in venture capital funds marking the region's first big funding round of 2006, according to an article in the Pittsburgh Business Times. The final amount was more than 40% above what the company originally sought when it began raising funds last summer. CEO Sean McDonald expects this to be its last venture round as they will use the money to market their tissue-based support tool that helps clinicians select the most effective chemotherapy regiment for individual patients, a move which should bring the company to profitability.
February 21, 2006 | Permalink
Aethon's Zini Shares Lesson Learned
In an article in the Pittsburgh Business Times, Aethon president Aldo Zini shares the most important lesson of his career, "Launch early, get a product out there quickly and upgrade as you go." In that vein, he leaves the technological updates to the engineers on his staff while he focuses on market issues and the company's business model. His theory has some merit, the company has grown from 25 employees in 2004 to 60 in 2005 and expects to double that head count in the next year.
February 21, 2006 | Permalink
Carnegie Learning Helps Change the Way Teachers Teach
In an article in eSchool News, Carnegie Learning was highlighted as an example of technology changing the way teachers teach in order to help high school students prepare for success in the global economy. Read the full article on Carnegie Learning's website.
February 16, 2006 | Permalink
ChemoFx® Valuable Tool in Treating Cancer
A new study published in the International Journal of Gynecological Cancer (IJGC) shows that women with ovarian cancer lived three times longer without experiencing a worsening of the disease when treated with drugs determined to be effective in treating their individual tumor. The new study reports the results of a broad-based trial involving the selection and administration of chemotherapy drugs based upon the results of chemoresponse assay testing with the ChemoFx assay from Precision Therapeutics. ChemoFx is a cell-based test that quantifies an individual patient's likely tumor response to single or multiple chemotherapeutic agents. Read more at http://pittsburgh.dbusinessnews.com/shownews.php?newsid=61294&type_news=latest.
February 16, 2006 | Permalink
Venture Investments Up 45% in 2005
The Pittsburgh Business Times reports that year-over-year venture capital investments in Pittsburgh-area companies are up by 45%, according to a MoneyTree survey. As one of the region's most active investors, Draper Triangle has begun to invest in companies from our DTV II fund. Jay predicts a very good year for investments, citing the companies already in our portfolio that will be doing significant follow-on rounds of financing, plus the sheer number of new companies present in the region.
January 27, 2006 | Permalink
bodybugg™ Wins 2005 Popular Science Best of What's New Award
bodybugg™, the joint effort of BodyMedia and Apex Fitness Group, has been named winner of a 2005 Popular Science Best of What's New Award in the Personal Health Category. To win, a product or technology must represent a significant step forward in its category. Winners will be featured in the December special editorial section. Congratulations!
November 9, 2005 | Permalink
Nanotech Industry Adds Jobs, Millions of Dollars to Local Economy
The nanotech industry has come into its own over the last year, with UW-Madison snagging choice federal grants and several startup companies now making a profit. A rough survey by the Wisconsin State Journal shows this science of the incredibly small is already drawing good jobs and tens of millions of dollars into the local economy each year, with more to come. Imago Scientific Instruments is a big part of that industry. Read the full article at madison.com.
August 28, 2005 | Permalink
Precision Therapeutics Seeks Capital
Sean McDonald, CEO of Precision Therapeutics, will soon be very busy. His company is set to start clinical trials at Yale Medical Center, and he just launched a $12 million venture capital round. The company recently received a $1.7 million reimbursement from Medicare - an important element to the fundraising campaign. Precision Therapeutics has raised more than $32 million in venture funds since McDonald came on board in 2001. McDonald expects to reach his fund-raising goal by the end of the year, tapping both new and existing investors.
August 16, 2005 | Permalink
Renal Solutions Ready for Commercial Sales
With preliminary FDA approval in hand, the Pittsburgh Business Times reports that Renal Solutions is set to receive the first of its portable kidney dialysis system this week to begin testing to ensure they were built to the company's specifications. Insitutional sales to nursing homes and hospitals will begin over the next several months. Sales to the home user market will wait until further trials are run and final FDA approval is granted. The Company expects final approval for sale to home users early in 2006.
August 9, 2005 | Permalink
Study Shows LEAP Microscope Effective in SemiConductor Testing
In a study published in Applied Physics Letters, Imago Scientific Instruments' LEAP microscope was used to pinpoint individual atoms of boron in semiconductors, representing the first practical application of LEAP to semiconductors. LEAP revealed, in precise, 3-D detail, that boron spreads into the crevices between crystals of silicon on the transistors, possibly leading to electrical failure. The information allows semiconductor manufacturers to further investigate rapid-heating techniques for limiting this diffusion, while continuing the push to miniaturize chip components. Read more about the study at PhysOrg.com.
August 2, 2005 | Permalink
Hans Witt Moves from Board to CEO at Haley Systems
Hans Witt, who spent 30 years in the technology sector working for the likes of IBM, Microsoft and Intel, recently left the board of directors at Haley Systems to become the company's President and CEO. Haley Systems builds the technology to help businesses automate their programs, rules and policies. Under Mr. Witt's direction, the company plans to triple revenue while continuing to add staff in inside sales, marketing and engineering. For more information about Haley Systems and Mr. Witt, please read the article in the Pittsburgh Business Times.
June 14, 2005 | Permalink
Imago Thinks Small to Go Far
An article in the Milwaukee Journal Sentinel relates the story of how Imago's Chief Technology Officer, Tom Kelly, left the safety of a tenure-track position at the University of Wisconsin to concentrate full-time on making the company a success. Beginning with the Local Electrode Atom Probe, or LEAP, microscope, Imago plans to create the tools necessary to futher develop the next generation of nanotechnology applications.
June 7, 2005 | Permalink
BodyMedia Predicts Future Health
In an article in the June 6 issue of Forbes Magazine, Astro Teller of BodyMedia explains how his company's body monitoring sensors are the wave of the future in predicting the well-being of its wearers.
May 26, 2005 | Permalink
TUG: Efficient and Cost-Effective
In an article from The News Journal, Delaware, the TUG was billed as less costly and more efficient than human couriers. Hospitals could save hundreds of thousands of dollars a year by replacing human couriers with robotic ones to ferry linens, records, x-rays and other medical supplies to nursing stations. Aethon's TUG uses wireless radios and sensors to call elevators, open automatic doors and avoid obstacles. In May, Aethon won a federal contract to sell its TUG robots to VA hospitals nationwide. Visit Aethon's website to learn more.
January 6, 2005 | Permalink
NANO Commissions Imago's LEAP® Microscope
The Nanostructural Analysis Network Organisation (NANO) has commissioned a LEAP Microsope at the University of Sydney, Australia. All Australian and international researchers who have an interest in atomic analysis of alloys can gain access the new atom probe facility through the NANO Travel and Access Program. The LEAP® Atom Probe Microscope developed and marketed by Imago Scientific Instruments Corporation represents world leading capability for 3-D imaging and analysis at the atomic scale. Read the full release here. And click here to read an article in the New South Wales Business Update.
December 23, 2004 | Permalink
Draper Triangle Opens DTV II with $40 Million to Start
We're very pleased to announce the initial closing on Draper Triangle Ventures II (DTV II), a venture fund for Midwestern-based technology companies. Targeted to close in excess of $60 million, DTV II will make seed and early stage investments in compelling advanced software, medical device, automation technology, MEMS and nanotechnology companies. In addition, we've also opened an office in Cleveland, and plan one for Cincinnati mid-2005.
The release is here. You can also read articles about DTV II in the Pittsburgh Business Times, Crain's Cleveland Business, Pittsburgh Post-Gazette, and Pittsburgh Tribune Review.
September 30, 2004 | Permalink
ClubCom Network Airs Campaign Ads
As part of its $28 million advertising effort for August, President Bush's re-election campaign will run an ad on the fitness center networks operated by ClubCom. The network reaches 8 million people a month who exercise at facilities including Gold's Gym and PowerHouse Gym. The ad will run during the Olympic games and touts "two more free nations" and "two fewer terrorist regimes." Read the article at the San Francisco Chronicle.
August 17, 2004 | Permalink
Aethon's TUG Gaining Popularity in Hospitals
Aethon's TUG robotic courier is gaining acceptance in area hospitals, and with the Veteran's Affairs hospitals, as medical facilities look to streamline costs and fill duties left open by nursing shortages. Read the article at cnn.com.
July 6, 2004 | Permalink
BodyMedia and Apex Join Forces to Fight Obesity
BodyMedia has formed a strategic alliance and distribution agreement with one of the nation's leading providers of weight loss and fitness programs for gyms and health clubs. The agreement with California-based Apex Fitness Group should boost sales in the consumer health market. Read all about it.
June 3, 2004 | Permalink
Imago Raises $5 million in 2nd Round
Imago Scientific announced that it has raised $5 million in a second round of financing. The company was able to attract a new lead investor for this round - Portage Venture Partners - a member of the Draper Network - and its previous investors, including Draper Triangle, participated again in this round, testimony to the attractiveness of Imago's technology. Read the full release.
February 20, 2004 | Permalink
VC rebound
Pittsburgh Business Times reports more than $46 million of venture capital flowed into Pittsburgh companies during Q3. We did our part with investments in BodyMedia and Precision Therapeutics. Jay thinks we're seeing a rebound.
October 28, 2003 | Permalink
AI: Something to Build On
Carnegie Learning uses Artificial Intelligence to help students with math, geometry and algebra with their Cognitive Tutor product. Read the article in District Administration Magazine.
July 31, 2003 | Permalink
