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September 17, 2007

UMBC Biotech Entrepreneur Paul Silber Named Baltimore’s Extraordinary Tech Advocate for 2007

CONTACT:

Chip Rose, UMBC News
410-455-5793
crose@umbc.edu

Paul Silber, a biotech entrepreneur with roots at UMBC, has been named the 2007 “Baltimore’s Extraordinary Technology Advocate” award winner by the Greater Baltimore Technology Council (GBTC).

Silber is the former President and CEO of In Vitro Technologies (IVT), one of the first companies to start and grow on campus through the UMBC incubator program. In 1990, Silber began IVT as a true, by-the-bootstraps startup in Texas and shortly thereafter moved the operation to UMBC.

IVT has since grown to an international business with over 70 employees and remains the anchor tenant of UMBC’s high-tech business incubator facility, techcenter@UMBC, today. IVT, which provides an alternative to animal testing for biotech, drug and pharmaceutical firms, was sold to Celsis International in 2006 for $30 million but remains a vital part of UMBC and Baltimore’s entrepreneurial community.

"In Vitro Technologies (IVT) truly started it all - bio in Greater Baltimore," said GBTC Executive Director Steve Kozak in a press release. "And Paul Silber has been an active leader, if not THE leader, of this region's biotech community for years. Entrepreneur, mentor, advisor, angel investor - he's been there…for everyone, always, all the time. The GBTC would like to congratulate Paul on this very well-deserved honor. We couldn't have picked a better leader or a better person for this prestigious award."

"Paul Silber has grown In Vitro Technologies from two people in a trailer on the edge of our campus into a global success," said UMBC president Freeman Hrabowski, who is also a past recipient of the BETA award. "Along the way, Paul and IVT have truly helped put UMBC and Baltimore on the world's biotech map.

"Even after achieving so much, Paul and IVT continue to give back to the community by mentoring other entrepreneurs, hiring UMBC graduates and sponsoring blood drives on campus," said Hrabowski. "The entire UMBC family is delighted to congratulate Paul on this well-deserved honor."

Silber will be presented with the BETA Award at the GBTC’s signature annual tech showcase event, TechNite, to be held on Wednesday, October 24, 5:15 - 8:30 p.m., at the Baltimore Convention Center (One West Pratt Street in Downtown Baltimore).

Tickets for TechNite are $155 for GBTC members and $185 for non-members. To register or for more information, contact the GBTC at 410-327-9148 or visit the TechNite website at: www.gbtechcouncil.org/technite2007.

Posted by crose at September 17, 2007 12:36 PM