PHILADELPHIA, Oct. 11, 2002 (PRIMEZONE) -- Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) has recently invested more than $1 million in five southeastern Pennsylvania technology companies, Fairmount Automation, Gentis Inc., NovaPlex Technologies, Inc., RetinaPharma Technologies, Inc. and Vaticor, Inc. for prototype and product development. These companies join Ben Franklin's portfolio of approximately 135 companies, representing more than $17 million currently invested in southeastern Pennsylvania. Profile and investment information is outlined below.
Fairmount Automation, Inc., Chester County, Andres Lebaudy, Ph.D., 1220 Valley Forge Rd., Bldg. 37, Phoenixville, PA 19460. Phone: (610) 935-8656 Fax: (610) 935-8725 Email: lebaudy@fairmountautomation.com Website: www.fairmountautomation.com
BFTP/SEP Investment: $200,000
Fairmount Automation designs, manufactures and sells rugged process control and automation products for use in harsh environments. Their new "Chameleon(TM)" product line is a family of rugged, programmable modules that can function as a conventional Programmable Logic Controller (PLC) or be joined together over a network to form a decentralized control system. Ben Franklin's investment will help develop production-ready prototypes for Fairmount's first wave of "Chameleon(TM)" modules.
Gentis Inc., Chester County, Charles Cohen, Ph.D., 1055 Westlakes Drive, 3rd Floor, Berwyn, PA 19312. Phone: (610) 727-4014 Fax: (610) 727-4001 Email: cohen@gentisinc.com Website: www.gentisinc.com
BFTP/SEP Investment: $250,000
Gentis Inc.'s breakthrough stem cell technology allows a patient's skin cells to be converted into cartilage tissue for the purpose of repairing damaged and painful joints. By combining this biological technology with its advanced biomaterials platform, Gentis will be able to optimize the cost and efficacy of treatment based upon each patient's needs. Gentis will leverage its BFTP/SEP investment to complete necessary pre-clinical trial work for its PoroCellT product line.
NovaPlex Technologies, Inc., Bucks County, Steven LaPierre, 1709 Langhorne-Newton Rd., Suite 5, Langhorne, PA 19047. Phone: (215) 497-9720 Fax: (215) 497-9721 Email: steveL@novaplex.com Website: www.novaplex.com
BFTP/SEP Investment: $100,000
NovaPlex Technologies, Inc. has developed the first comprehensive, standards-based trading software platform to link and unify trading functionality and liquidity management across all of an organization's branches and customers. Utilizing Java/J2EE and XML technologies, the NovaPlex platform enables automated real-time trade order management, order matching, on-demand price quotes, credit & position limit facilities and cross-market trading strategies. Their software is targeted at major financial institutions, fund managers and corporate treasury departments. Ben Franklin's investment will help the company develop new products, which will provide advanced business intelligence, security and system integration capabilities.
RetinaPharma Technologies, Inc., Montgomery County, Terry A. Fuller, 944 Morgan Rd., Jenkintown, PA 19046. Phone: (215) 885-4558 Fax: (215) 885-2788 E-mail: questions@retinapharma.com Website: www.retinapharma.com
BFTP/SEP Investment: $217,000
RetinaPharma Technologies, Inc. is a development-stage biotechnology company that specializes in the development of products for the prevention, treatment and diagnosis of vision disorders and eye diseases. The company's is focusing on 'dry' and 'wet' Age-Related Macular Degeneration (AMD) and retinitis pigmentosa. Ben Franklin's investment is aiding the advancement of an opto-mechanical fundus camera that will be used in conjunction with light targeted drugs, which also are being developed by the company.
Vaticor, Inc., Chester County, Mark A. Anthony, 486 Thomas Jones Way, Suite 250, Exton, PA 19341. Phone: (610) 363-0777 Fax: (610) 363-3932 E-mail: markanthony@vaticor.com Website: www.vaticor.com
BFTP/SEP Investment: $250,000
Vaticor, Inc. provides expert Intellectual Property (IP) infrastructure consulting and support, as well as remote management and administration of QIP, CNR, NetID software, and related DNS and DHCP services. Ben Franklin's investment will help support the company's software utility commercialization activities.
About Ben Franklin Technology Partners of Southeastern Pennsylvania
An independent not-for-profit economic development organization, Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) (www.sep.benfranklin.org) was established in 1982 to stimulate economic growth through innovation, entrepreneurship and the development and adoption of new technologies. BFTP/SEP, part of a statewide network supported by the Pennsylvania Department of Community and Economic Development, provides capital and expertise in technology, finance and business that helps entrepreneurs and established companies overcome challenges and plan for growth. Through our network of resources, the organization fosters dynamic relationships among companies, institutional and private investors, research institutions and the university community.