Thursday, January 12, 2012

The Ben Franklin Technology Partners, an organization that provides money and support services to tech businesses, is sponsoring another business plan contest similar to competitions it has put on over the last decade.

The Big Idea Business Plan Contest, open to entrepreneurs that are already based in a 32-county area or are planning to move there by June, comes with a $50,000 prize for the winner. Judges are looking for promising business ideas in areas like alternative energy, medical devices and nanotechnology. Entrants cannot have received Ben Franklin funding before and must have 50 employees or fewer. The eligible geographic area includes most of the state’s central, northern and western regions.

“It’s really for young, fledgling companies, to give them an opportunity to a) win $50,000 and b) get into the network of economic development service providers,” says Jill Edwards, executive director of the Ben Franklin Venture Investment Forum and Innovation Transfer Network. “We recognize that this region of Pennsylvania has strengths in a whole array of different areas.”

She adds that any company that enters the contest will become known to the Ben Franklin investment network, which opens up other opportunities for funding for help with the process of growing a business.

The contest deadline is Feb. 29 and final judging is expected in June.

Source: Jill Edwards, Ben Franklin Venture Investment Forum /Innovation Transfer Network

Bethlehem, PA, January 10, 2012 – Saladax Biomedical, Inc., a privately held company developing and commercializing novel diagnostic assays to achieve the promise of personalized medicine for new and existing therapeutics, announced today that it has been issued six patents within the last 12 months, bringing the company’s total to 15 issued U.S. patents, all of which contain broad claims in the immunoassay space.  The issued patents are as follows:

·        Busulfan Immunoassay: U.S. Patent No. 7,893,220

·        Stabilized Standards for Busulfan Immunoassay: U.S. Patent #8,039,220

·        Doxorubicin Immunoassay: U.S. Patent No. 8,053,205

·        Imatinib Immunoassay: U.S. Patent No. 8,076,097

·        Doxorubicin Immunoassay: U.S. Patent No. 8,084,586

·        Resperidone Immunoassay: U.S. Patent No. 8,088,594

“The issuance of these patents in the U.S. positions Saladax as the leader in chemotherapy dose management and we believe that Saladax has been issued more patents in the therpeutic dose management (TDM) space than any other diagnostic company,” said Salvatore J. Salamone, founder and CSO of Saladax.  “Of particular note, our patent for Resperidone marks a significant milestone for Saladax as this is our first patent in the CNS field.”

About My5-FU™

Saladax’s first commercially available test for innovative dose management, My5-FU, measures levels of 5-flourouracil (5-FU), a widely prescribed chemotherapy drug used in conjunction with other drugs in first-line therapy for colorectal cancer and other solid tumors. The assay technology enables oncologists to determine the optimal dose of 5-FU for each individual patient, thereby increasing the effectiveness of the drug and lessening the risk of severe toxicity and other side effects.

About Saladax Biomedical, Inc.

Saladax Biomedical develops and commercializes novel diagnostic assays to achieve the promise of personalized medicine through dose management and companion diagnostic products for existing and new therapeutics.  The Company’s dose management technology enables physicians to optimize drug dosing to meet individual patient needs, leading to improved response and quality of life.  The Company’s 15 MyCare™ dose management assays are comprised of proprietary, automated and cost-effective in vitro diagnostic tests, with a principal focus in oncology.  The first MyCare assay available is for one of the most common anticancer drugs, 5-fluorouracil (5-FU).  This assay is sold by Saladax in Europe as a CE-marked product and will be distributed in Japan by FALCO biosystems.  In the United States and Canada, Myriad Genetic Laboratories, Inc. provides testing for 5-FU dose optimization under the trademark OnDose^® through a license to Saladax proprietary technology. In addition the company is finalizing development of its next two oncology drug assays for paclitaxel and docetaxel.  Saladax also works with pharmaceutical companies to develop companion diagnostics to provide important clinical information to assist in developing and administering new and existing compounds.  For more information, visit www.saladax.com, or follow us on Twitter at https://twitter.com/Saladax.

Saladax Biomedical,  Edward L. Erickson, President and Chief Executive Officer, moc.x1337307568adala1337307568s@nos1337307568kcire1337307568e1337307568

Media Contact: Tiberend Strategic Advisors, Inc., 212-827-0020, Andrew Mielach, moc.d1337307568nereb1337307568it@hc1337307568aleim1337307568a1337307568    or Jason Rando,  moc.d1337307568nereb1337307568it@od1337307568narj1337307568

Did you know? Companies that hire people with disabilities may be eligible for tax credits or deductions. Pennsylvania offers a variety of tax credits and programs for large, medium and, yes, even small businesses. For more information, visit WorksForMe-PA.org or call the Works for me hotline at 1-877-268-9894.

The Ben Franklin Venture Investment Forum in partnership with the Ben Franklin Technology Partners of Central and Northern PA announced that the BIG IDEA Business Plan Contest is back! A grand prize of $50,000 will be awarded to one tech-based startup company! Entrepreneurs can visit http://www.cnp.benfranklin.org/ and click on the contest button for additional information. The deadline for applications is February 29, 2012.

By Richard Rabicoff

MALVERN, Pa. - Deltagen BioServices, Inc. has launched an offering of $2.3 million, raising $1.3 million from 12 investors.

According to a company statement, the funding is a secured bridge loan, led by Life Sciences Green House of Central Pennsylvania. Proceeds will be used to fund operations.

Named in the related SEC filing were President Paula MacDonald, and directors Warren Bogard, Hemispherx Biopharma; Kevin Harter, Life Sciences Greenhouse; David McLachlan, Skyworks Solutions, Inc.; and Thomas Penn, Meridian Venture Partners.

Deltagen BioServices is a wholly-owned subsidiary of Deltagen, Inc. (Pink Sheets:DGEN), a provider of drug discovery tools to the biopharmaceutical industry.

Deltagen BioServices recently completed facility commissioning and validation of equipment, systems and assays, but due to repair issues its commercial operations have been delayed and the company faces rent payment issues at the Malvern, Pa. facility.

SEC filing: http://tinyurl.com/7ryk3q4

December 21, 2011 -  Harrisburg – Department of Community and Economic Development (DCED) Secretary C. Alan Walker announced today the  allocation of $29.2 million of funding from the United States Department of the Treasury’s State Small Business Credit Initiative (SSBCI) to economic, community and technology development partners throughout the  commonwealth.

“The  Corbett administration is committed to supporting our small  businesses and the best way to do that is by partnering with the private sector to maximize resources,” said Walker. “I am proud to say that Pennsylvania is the only state in the nation that requested proposals from our local partners with a goal of maximizing investment and supporting the best projects. This initiative will result in significant small business job creation across the  state.”

After receiving notification from the Treasury department of the  SSBCI program, DCED reached out to its development partners throughout the state to determine what funding gaps currently existed for small  businesses. As a result, the department determined that the best approach was to give the organizations, which interact with small  businesses every day, the opportunity to apply for a portion of the funding.  By partnering with the private sector to support local  projects -rather than using the entire funding to supplement existing state programs -the impact of  job creation and private investment in the commonwealth will be much greater.

The SSBCI program is part of the Small  Business Jobs Act that was signed into law in September, 2010. Funding  will  be allocated to 12 entities to support statewide and regional job generating programs, early-stage technology companies and Community Development Financial Institutions.

Secretary Walker  was joined today by State  Senator John Gordner and representatives of the organizations that will  be receiving the SSBCIfunding.

“Small businesses are an integral part of Pennsylvania’s economy, accounting for over  98 percent of the  state’s employers and nearly 50 percent of its  private-sector employment,” said Gordner.  “I applaud DCED for taking a business-minded approach and reaching out to address and enhance small business’ capital needs.”

For more information about economic development initiatives in Pennsylvania, call 1-866-466-3972 or visit newPA.com.

Media contact:
Steven Kratz, DCED; 717-783-1132

Editor’s Note: Allocation of SSBCI Funds

Altoona-Blair County Development Corporation (ABCD Corp)  is a DCED certified  economic development corporation, serving  nineteen  counties  in south Central and Western Pennsylvania.   The organization will use the funding  to create the “Innovate PA fund”- a program designed  to provide  low-interest loans to meet the financing  needs of small businesses that  are presently not being  met by public and private  lenders.  ABCD Corp. will receive  $2 million of SSBCI funding, projected to finance a minimum of 12 loans and create  at least 80 jobs.

Ben Franklin Technology Development Partners (BFTDA) and the Life Science  Greenhouses (LSG) are non-profit economic  development intermediaries created  by the commonwealth to accelerate innovation, economic  growth  and jobs in the state’s  high technology economy.  The BFTDA and LSG programs will receive $5 million of SSBCI funding, projected to finance 17 early-stage Pennsylvania technology companies, create 163 high-paying jobs and attract over $50 million of private  financing.

Bridgeway Capital is a DCED Community Development Financial Institution that serves businesses and nonprofits in Western Pennsylvania.   The organization will receive $2 million in SSBCI funding to continue making entrepreneur and growth capital  loans, and loans to nonprofits. The funding  is projected to finance 510 loans, create nearly 2,600  jobs and attract over $97 million  in private financing.

Central Bradford Progress Authority (CBPA) is a DCED certified area loan organization covering  the counties  of Bradford, Susquehanna, Sullivan and Wyoming. The organization will utilize  its 18 years of economic development lending experience to provide capital to small business in their region and those specifically tied to Marcellus Shale.  CBPA will receive $1 million of  SSBCI funding, projected to finance 10 loans and create 150 jobs.

Community First Fund is a DCED certified Community Development Financial Institution that  serves 13 counties  in central and eastern Pennsylvania.   Community First will receive $2 million in SSBCI funding to provide loans to underserved small businesses with impaired access to credit during  the current recession.  The funding will be used to create an additional $19 million in private economic  investments, and is projected to finance 246 loans and create  1,850  jobs.

The Economic Opportunities Fund {EOF) of the Womens Opportunity Resource Center is a Community Development Financial Institution that serves the five­ county Philadelphia region.   The organization will utilize its 12 years of economic development experience to continue  providing low-income women and minorities with startup capital.   EOF will receive $262,500 in SSBCI funding,  projected to finance 39 loans and create 26 jobs.

Northside Community Development Fund (NCDF) is a DCED certified Community Development Financial Institution that provides financing for small business and real estate  projects on Pittsburgh’s Northside. The funding will be used to make loans to underserved,  low-income census neighborhoods.  NCDF will receive $250,000 in SSBCI funding, projected to finance 5 loans, and create 13 jobs.

Pennsylvania Industrial Development Corporation (PIDC) is private nonprofit corporation with a 53 year history of stimulating economic development by leveraging financing and real estate resources that attract,  retain and grow businesses in Philadelphia.   PIDC will receive $2 million of SSBCI funding, projected to support  a minimum of four projects and create at least 40 jobs.

The Progress Fund is a DCED certified Community Development Financial Institution serving  39 counties in Western and Northern Pennsylvania.   The organization will receive $2 million of SSBCI funding  to continue  providing capital for rural, tourism-related projects. The funding  is projected to finance  40 loans, and create 500 jobs.

The South  Eastern Economic  Development Corporation (SeedcoPA) is a DCED certified economic development corporation serving  Chester County.  The organization will serve as the Credit Support Program for the SSBCI-funded and approved Pennsylvania Regional Revolving  Loan Fund (PRRLF).  The PRRLF will include many of the Southeastern Pennsylvania economic development councils and local and regional  banks.  These entities will contribute capital to the PRRLF which will be used as a source of funds for the loans. SeedcoPA will receive $2 million of SSBCI funding, projected to support  a minimum of 40 projects  and create at least 186 jobs.

SEDA-COG is a DCED certified economic development corporation serving 11 counties in Central Pennsylvania.   The organization will use the funding to provide small businesses loans to for-profit companies involved in promoting technology and communications, and businesses involved in Marcellus and Utica Shale activities.  SEDA-COG will receive $1 million of SSBCI funding, projected to support 10 loans and create at least 420 new jobs.

The Pennsylvania Machinery and  Equipment Loan Fund  (MELF) is administered by DCED and designed to attract economic growth by providing low­ interest loan financing for a portion of the cost of machinery and equipment purchases. To be eligible  for MELF, businesses  must commit to creating or retaining jobs. MELF will receive $9 million of SSBCI funding, projected to support a minimum of 13 projects and create at least 828 jobs.
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