The North Carolina Biotechnology Center has awarded $175,000 to five research-based companies to boost their commercialization and product development activities.
The Biotechnology Center conferred the maximum of $25,000 in Business Development Loans to Biolume and Cognosci, both of Research Triangle Park; to Agarigen of Durham; and to TeraDisc of Wilmington.
Biomachines of Durham will work with a $75,000 SBIR Bridge Loan – the maximum amount available.
"We are pleased that the Biotechnology Center's loans can help these companies achieve their company inception and research goals," said John P.Richert, vice president of the Biotechnology Center's Business and Technology Development Program.
Business Development Loan Recipients
Agarigen, TeraDisc, BioLume and Cognosci will use their Business Development Loans for specific company start-up activities.
- BioLume is developing bioluminescent (light-producing) proteins for a variety of uses, from food additives to molecular imaging.
- Cognosci is developing medication to treat multiple sclerosis, subarachnoid hemorrhage and other neurological disorders.
- Agarigen, using technology licensed from Pennsylvania State University, is developing ways to make commercially viable proteins using mushrooms.
- TeraDisc is building a drug-discovery computing platform modeled after a supercomputer at Virginia Tech University.
The Business Development Loans support non-scientific, business-related activities critical to an early-stage company.
SBIR Bridge Loan Recipient
BioMachines will use its one-year loan to continue developing a mass spectroscopy-based diagnostic tool to detect peptide fragments of proteins known to be cellular indicators for prostate cancer.
The loan provides gap funding to maintain the momentum of technology development begun as a Phase I SBIR grant-funded project and building toward Phase II of the federal grant funding.
Biotechnology Center Mission
The Biotechnology Center is a private, non-profit corporation supported by the North Carolina General Assembly. Its mission is to provide long-term economic and societal benefits to North Carolina by supporting biotechnology research, business and education statewide.
More Information
Contact: Barry Teater, director of corporate communications, North Carolina Biotechnology Center, 919-541-9366. Visit the Biotechnology Center's Web site and learn more about the grant and loans program.
