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January 7, 2009

Incubator Welcomes New Companies

Start-Ups Look Forward to Using Incubator Resources

FOR IMMEDIATE RELEASE
January 7, 2009

CONTACT:
Deborah Shapiro
Marketing Manager
410-455-1509
dshapiro@umbc.edu


The bwtech@UMBC Incubator welcomed three new companies recently. Noxilizer, PsychNostics and Kydes Pharmaceuticals moved into the Incubator during November. Each is optimistic about its future growth and is confident that the resources provided by the Incubator will help them achieve their goals.

Noxilizer, which was founded in 2004, has grown out of partnerships with Incubator companies Aurora Analytics and Athena Environmental Sciences. The company was using one of Aurora’s labs for its operations at bwtech@UMBC and recently leased its own office and lab space. The company is pioneering the development of a unique sterilization technology that will revolutionize two major sterilization markets - hospitals and biotherapeutics. For the multi-billion dollar hospital infection control market, Noxilizer is developing a sterilizer for sensitive high-tech instruments (such as endoscopes) which are increasingly used in minimally invasive surgical procedures. In the biotherapeutics market, Noxilizer’s room-temperature system has shown great potential to be an enabling technology for a wide range of products, including antibodies, proteins, drug-device combination products, nanoparticles and implants. Not only will Noxilizer technology expand company pipelines, it will also reduce the cost to manufacture many life-saving products.

David Opie, Noxilizer’s vice president of research and development, said the bwtech incubator has been the ideal facility for Noxilizer. “By collaborating with other incubator companies, including Aurora Analytics and Athena Environmental Sciences, Noxilizer has been able to grow very efficiently. Our team thrives in the collegial atmosphere at the Incubator, and the location near BWI airport is very convenient.”

PsychNostics, founded in 2004 and previously located at a lab in Columbia, is developing a blood test to diagnose attention deficit hyperactivity disorder (ADHD) and bipolar disorder. Company CEO Alagu Thiruvengadam, a neuroscientist who was previously a visiting faculty member at the University of Maryland School of Medicine, proudly noted that it is the first test of its kind. He has one patent and another one is pending. His goal is to bring the test to market and is in the process of talking to potential investors. Although he lives in Columbia, Thiruvengadam chose to locate further north at bwtech@UMBC after he toured the facility and was impressed with the management team and the support services offered. He plans to take advantage of the networking opportunities and other advisory services.

Kydes Pharmaceuticals, founded in 2004 by Stephen Dordunoo and previously headquartered in his house, specializes in developing drugs in the areas of pain management, women’s health and oncology. Dordunoo is looking to establish partnerships with larger pharmaceutical companies to develop and commercialize drugs. His decision to move his company to the Incubator was motivated not only by his need for more space and lab facilities, but also the support services offered to the companies as well as the affordable rents compared to other area incubators. Dordunoo was also glad to find a small space with the opportunity to grow into additional space at the same location.

“The bwtech@UMBC Incubator has a strong track record of launching successful companies,” said David Fink, director of entrepreneurial services at bwtech@UMBC. “We are delighted to welcome these growing companies and look forward to supporting them as they establish themselves in the marketplace.”

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About bwtech@UMBC:
bwtech@UMBC (_http://www.bwtechumbc.com_) is a 71-acre research and technology community at the University of Maryland, Baltimore County (UMBC). It comprises the technology business Incubator and Accelerator, home to over 30 early-stage high-tech and life science companies, and the Research and Technology Park, with a capacity of 350,000 square feet of office and laboratory space. bwtech@UMBC offers collaboration with university faculty and students, and enjoys a strategic and convenient location, close to downtown Baltimore, BWI Thurgood Marshall Airport, and Washington, D.C. bwtech’s annual economic impact on the state is estimated to be over $300 million.

About UMBC:
UMBC is a medium-sized public research university of 12,000 undergraduate and graduate students who collaborate with faculty to address real-world challenges. Located just south of Baltimore near I-95 and the BWI airport, UMBC's residential campus houses state-of-the-art facilities in the sciences, engineering, arts, social sciences and humanities. UMBC combines the energy of a research university with the close community feel and attention to individual students found in liberal arts colleges.

Posted by dshapiro at January 7, 2009 11:34 AM