The Life Sciences Greenhouse of Central Pennsylvania (LSGPA) Invests in Two Central Pennsylvania Life Sciences Companies
LSPGA Provides $500,000 in Financing for MacuLogix and Micro Interventional Devices
Harrisburg, PA September 2, 2015 – The Life Sciences Greenhouse of Central Pennsylvania (LSGPA) announced today that it has made follow-on investments in two of its portfolio companies – MacuLogix, Inc. and Micro Interventional Devices, Inc. Each company is receiving a $250,000 investment.
MacuLogix, Inc. of Hummelstown, Pennsylvania recently launched an FDA-approved device for early detection of age-related macular degeneration (AMD), a leading cause of blindness in adults. The device, called AdaptDx®, helps identify individuals at the earliest possible stage of AMD. LSGPA’s $250K investment was part of a $5 million round led by Fisk Ventures, LLC. MacuLogix plans to expand commercialization of their novel diagnostic tool.
Micro Interventional Devices, Inc. (MID) is an emerging cardiovascular medical device company based in Newtown, Pennsylvania. The company’s lead technology is Permaseal™, a device used to provide access and closure via the apex of the heart. Permaseal utilizes soft tissue PolyCorTM anchors to provide highly effective wound closure after structural heart repair procedures such as a Transcatheter Aortic Valve Replacement (TAVR). LSGPA’s $250K investment was part of a $1.5 million round, led by Originate Ventures. This investment will help Micro Interventional obtain needed regulatory approval and begin commercial sales.
“Our investments in MacuLogix and Micro Interventional Devices confirm our commitment and belief in the potential of these two companies,” said Mel Billingsley, President and CEO of LSGPA. “Small companies in Pennsylvania are making great strides in life science technologies, which helps create jobs, grow communities and improve human health overall.”
To date, the LSGPA has invested $1.75 million in MacuLogix and $1.25 million in Micro Interventional Devices. Both companies are part of a larger portfolio of life sciencesA cluster of scientific disciplines concerned with human life and health. Included are many branches of biology (e.g., molecular biology, cell biology) and chemistry (e.g., biochemistry), as well as some areas of genetics, physics and materials science, among others. companies that LSGPA has invested in throughout Central Pennsylvania. Overall investments since 2002 have exceeded $25 million.
The LSGPA is a venture investment organization that provides early-stage investments to promising start-up companies in the life sciences field in central Pennsylvania. The organization was founded in 2002 and was funded from Pennsylvania’s Tobacco Settlement Funds to stimulate creation and growth of new life sciences enterprises in Pennsylvania. For more information, please visit our website: www.LSGPA.com
MacuLogix is a pioneer in the early detection and tracking of retinal diseases. The Company’s AdaptDx is the first practical measurement tool for dark adaptation. Dark adaptation is known to be substantially impaired in retinal diseases such as age-related macular degeneration (AMD), retinitis pigmentosa (RP), and inherited macular dystrophies. Based on significant technical advances, the AdaptDx provides doctors with an easy-to-use functional test similar to routine perimetry testing for glaucoma. For additional information on MacuLogix, go to www.maculogix.com
About Micro Interventional Devices
MID designs, develops and commercializes proprietary technologies targeting unmet needs in cardiovascular and general surgery. To learn more, visit www.microinterventional.com