CINCINNATI – Since it was founded 10 years ago, BIOSTART, a world-class life science start-up center, has helped launch more than 85 companies, which have produced more than 180 high quality, high paying jobs. BIOSTART has also played an active role in helping these companies to raise more than $160 million from equity investments, federal and state commercialization grants and contracts, and strategic partnerships. In recognition of its tenth anniversary, BIOSTART is hosting an evening of celebration for past and present clients, partners, supporters and other invited special guests who have played and continue to play a role in the success of BIOSTART and its clients.
At the event on November 29, 2007 at the organization’
“This is a great time for celebration as we complete 10 years of phenomenal achievements and look forward to another decade of opportunity and success,” said Carol Frankenstein, president of BIOSTART. “We have always had tremendous support from local business, civic and government leaders, as well as the investment community, and our event is an opportunity to say thank you and to show off a little of what we have accomplished as a result of their help. BIOSTART has always been recognized as a best in class operation for our client assistance, the wise use of funding to leverage return for our stakeholders and clients, and our ability to attract global players seeking a U.S. presence. That is the legacy we have built, and during the next 10 years, that foundation will serve to help many more people take their ideas and grow them into commercially successful opportunities.”
BIOSTART’s client companies invent products that address critical health care needs. Among its current clients are companies working on cures for Alzheimer’s disease, Parkinson’s diseases and cancer; devices for mechanical treatment of heart failure; diagnostic kits for tuberculosis, pneumonia, HIV/AIDS, cancer and cystic fibrosis’; genetic testing for therapeutic guidance; a new system for point-of-care and emergency response monitoring; and a solution for turning harmful environmental contaminants into harmless byproducts.
“We are fortunate to have in this area an organization like BIOSTART, which has helped numerous entrepreneurs and companies find the resources they need to turn an idea into so much more,” said John Rice, chairman of the board of trustees for BIOSTART, and managing partner of Triathlon Medical Ventures. “BIOSTART may be a hidden gem to many of the people in Cincinnati and across the state, but to the life sciences industry in this region, it is a catalyst; giving opportunity to innovators with potentially life-saving cures, devices and systems. We have much to celebrate for our past successes, and much to look forward to as we push onward into the next era of life sciences innovation.”
Additional BIOSTART highlights for the past 10 years:
• Proponent for establishing two regional life science venture firms, Triathlon Medical Ventures and Charter Life Sciences, to the region. These firms raised more than $150 million in their first funds and are now raising their second funds.
• Founder and Manager of SoundingBoardSM, a business plan presentation forum offered by the Greater Cincinnati Venture Association that provides feedback to innovative and scalable companies to prepare them for fundraising. SoundingBoard showcased 95 presenters during the last 6 years and 30 percent of presenters have now raised more than $13 million in investment.
• Co-manager of Cincinnati Creates Companies, a business plan writing program for first-time technology entrepreneurs, whose graduates have raised over $5 million.
• Partner in $1.65 million Southern Ohio Creates Companies pre-seed fund that will launch in 2007 and provide funding for business proof of concept for innovative technology companies.
• Collaborator in Southwest Ohio Entrepreneurial Signature Program, a new three year program funded by Ohio’s Third Frontier Commission. BIOSTART will provide services to bioscience companies in the region.
For more information on BIOSTART’s 10th Anniversary Celebration, please contact 513-475-4087.
About BIOSTART
Based in Cincinnati, Ohio, BIOSTART is a world-class life science start-up center with two distinguishing focus areas . . . catalyst and community. For more than a decade, BIOSTART has applied this dual focus approach to build life science companies that create jobs, develop products that improve health and quality of life, and generate wealth for its clients, the greater Cincinnati region, and for the State of Ohio. BIOSTART engages clients and partners in a supportive entrepreneurial culture that has global reach and relationships.
BIOSTART catalyzes life science commercialization by finding medical product innovators, nurturing ventures that develop competitive products, and connecting companies to the resources needed to create wealth and jobs. For more information, visit www.BIOSTART.org.
