Start-up aid programs help Addrenex, Teotten, Axitare, BioMedomics
RESEARCH TRIANGLE PARK, N.C., Jan. 8 /PRNewswire/ -- The North Carolina
Biotechnology Center has approved $350,000 in loans to help four young
research-based companies pursue more investment and develop products within
the state.
The funding includes two $150,000 Small Business Research (SRL) loans
and a pair of $25,000 Business Development Loans (BDLs). Each of the
Biotechnology Center's loan programs has different purposes and
requirements.
The one-year SRL loans were approved for Addrenex Pharmaceuticals of
Morrisville and for Teotten Diagnostics of Research Triangle Park to
conduct specific research and development programs important to the
advancement of the companies. The BDL loans were granted to Axitare and to
BioMedomics to conduct important company inception activities.
"North Carolina continues to be the nation's third-largest
biotechnology cluster because of its commitment to help the development of
promising young companies," said Ken Tindall, the Biotechnology Center's
senior vice president, Science & Business Development.
"The Biotechnology Center has been providing a variety of loans to new
biotechnology ventures for some 18 years, primarily targeting start-up
company inception, research and growth," said John Richert, vice president
of the Biotechnology Center's Business & Technology Development Program.
Addrenex, which had earlier received a $25,000 BDL loan from the
Biotechnology Center, is a specialty pharmaceutical company seeking funding
to develop Clonicel. That's the company's patented oral extended-release
formulation to combat symptoms associated with excessive adrenaline
secretion, including hypertension and attention deficit hyperactivity
disorder (ADHD).
Teotten is a start-up biotechnology company developing unique
diagnostic tests for life-threatening hospital-acquired infections. The
firm plans to use the loan to help it develop its first product -- a test
strip for diagnosing invasive fungal disease by detecting specific
biomarkers in the blood.
Axitare is developing a technology to screen various libraries of
natural compounds for possible cellular modulators capable of enhancing the
aroma and flavor of foods. That's expected to lead to development of
natural dietary supplements, or food additives, that can help the millions
of people experiencing loss of their sense of smell and taste.
BioMedomics is developing medical diagnostics technologies targeting
point-of-care personalized genetic testing for specific disease biomarkers.
The product line will include reagents, assays, processing and data
analysis tools.
The Biotechnology Center is a private, non-profit corporation supported
by the N.C. General Assembly. Its mission is to provide long-term economic
and societal benefits to North Carolina by supporting biotechnology
research, business and education statewide.
Visit the Biotechnology Center's Web site at http://www.ncbiotech.org.
SOURCE The North Carolina Biotechnology Center
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Related links:
http://www.ncbiotech.org
CONTACT:
Jim Shamp, news & publications editor, North
Carolina Biotechnology Center, +1-919-541-9366,
jim_shamp@ncbiotech.org; or At Addrenex - Moise Khayrallah,
Ph.D., +1-919-678-9004, mk@addrenex.com; or At Teotten - Jeff
Shuster, Ph.D., +1-919-765-0037, jshuster@teotten.com; or At
Axitare - Jim Passe, +1-919-256-8196, jpasse@passeip.com; or At
BioMedomics - Frank Wang, Ph.D., +1-919-360-9620,
fwang@biomedomics.com
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