Seven Finalists Selected For The BioWest 2006 Venture Showcase Competition, Presenting World-Changing Technologies

Denver, Colo. – Novel cancer drugs; innovative treatments for blood cancers and clotting; new ways to attack inflammatory and infectious diseases; ground-breaking compounds to treat osteoporosis and metastatic bone disease; pioneering devices for orthopedic surgery; commercializing biofuels from algae; and revolutionary wearable rehabilitation systems comprise the seven finalists in this year’s BioWest Venture Showcase competition. The announcement is made by Christine Shapard, Director Bioscience and Emerging Technologies for the Colorado Office of Economic Development and International Trade (OEDIT).

“By focusing on new therapies targeting common diseases, creating systems and devices to fix problems and finding ways to reduce our dependence on oil, the seven finalists chosen for this year’s BioWest Venture Showcase are on the front lines of making the world a better place,” Shapard says. “The seven finalists were selected from a group of 18 that will present at the BioWest Venture Showcase on August 23 at the Colorado Convention Center. The winner will receive the $10,000 Faegre & Benson Venture Showcase award at the Colorado Bioscience Association (CBSA) Annual Awards Dinner on August 24.”

BioWest is a joint venture of OEDIT and CBSA. To attend the Venture Showcase presentations and/or awards dinner go to http://www.BioWestConference.com to register.

An overview of each finalist follows:

ApopLogic Pharmaceuticals (Aurora) is a startup phase biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products that target apoptotic cell death pathways found in tumor cells and proliferating immune cells (lymphocytes). The Company was formed in 2006 to capitalize on the intellectual property of its Scientific Founders, University of Colorado tenured faculty Drs. Richard Duke and Donald Bellgrau. Putting it most simply, ApopLogic induces cancer cells and autoimmune lymphocytes to commit suicide.
 
Caveo Therapeutics (Aurora) is an early stage biotechnology company creating innovative therapies for cancers and hematologic conditions based on receptor tyrosine kinase(RTK) technologies. The company identifies biological inhibitors that protect or “guard” receptors on various cell types against excessive or inappropriate activation which can lead to malignancy or other disease pathologies. The Company was founded by Doug Graham, MD, PhD, Chief Scientific Officer and Rhonda Wallen, Chief Executive Officer.

LigoCyte (Bozeman, Montana) is a biopharmaceutical company focused on the development of therapeutic drugs and vaccines for preventing or treating human diseases within specialty markets. The company develops drugs that manipulate the way the immune system recognizes and responds to inflammation and infection to affect the disease process itself, in addition to alleviating the symptoms of the disorder. Their expertise is immune system regulation at mucosal tissues, which governs inflammatory diseases of the lung, the gut and the skin. The company is managed by Donald P. Beeman (CEO) and Robert R. Goodwin, Ph.D (COO).

MBC Pharma, Inc. (Boulder) was founded in late 1997 to commercialize pharmaceutical technology invented by the late Prof. Marat Karpeisky of the Englehardt Institute in Moscow, Russia and Professor H.B.F Dixon of Cambridge University, Cambridge, U.K. These two founders were joined by Boulder biotech pioneer H. Lee Sturgeon (Cortech co-founder) in the formation of the Company. MBC Pharma’s approach is to use their technical expertise, patented intellectual property and know how in preclinical development to optimize and develop compounds to treat bone diseases such as osteoporosis and metastatic bone disease. MBC is currently managed by David Sebesta, PhD (CEO), Alexander Karpeisky, PhD (VP, Research) and Shawn Zinnen, PhD (VP, Preclinical Development).

MedShape Solutions (Castle Rock) develops pioneering medical devices for use in orthopedic surgery that leverage the unique medical benefits of shape memory polymers and alloys. MedShape Solutions develops pioneering medical devices primarily for use in orthopedics and minimally-invasive surgery. The Company combines expertise in materials science, medicine and engineering to provide innovative solutions to challenging medical needs. MedShape’s unique and patent-protected product line, based on emerging shape memory alloy and polymer materials, is expected to revolutionize orthopedic markets. The company is led by Harold Tyber (Chairman).

SunSource Industries (SSI) (Boulder) is a developer of massively scalable photo-bioreactors for the production of biodiesel and other valuable bio-commodities from algae. The Company is currently building its prototype reactor at Colorado State University (CSU) and developing the biological systems (algae strains) in order to commercialize the production of oil from algae. In addition, SSI’s technology consumes very large amounts of CO2 and so plays a significant role in mitigating the causes of climate change. Through strategic partnerships with CSU and the CSU Engines and Energy Conversion Laboratory (EECL), a world-class facility that is the largest lab in the U.S. dedicated to engines and fuel research, SunSource has patent-pending breakthrough technology that builds upon 20 years of unpatented research originating at the National Renewal Energy Laboratory (NREL). The Company’s management currently include the founder/inventor, Jim Sears, Doug Henston and Dr. Bryan Willson.

TheraTogs, Inc. (TTI) (Telluride) develops unique rehabilitation systems and provides advanced training for the physical rehabilitation market. TTI’s THERATOGS product line was introduced in fall 2002 after five years’ R&D by co-founder Beverly Cusick, PT, MS, COF. In less than four years, TheraTogs have gained rapid market acceptance via professional and word-of-mouth referrals. With limited marketing and minimal sales staff, TTI has shipped over 8,200 units ($1.7M total revenue) to clinicians and patients worldwide to address sensorimotor, postural, functional and neuromotor impairments. TTI is led by Lee Taylor (CEO).

About the Colorado Office of Economic Development and International Trade

OEDIT works with companies starting, expanding, or relocating in Colorado. OEDIT offers a wide range of services to assist new and existing business of every size. http://www.AdvanceColorado.com

About Colorado BioScience Association

CBSA is a not-for-profit corporation providing services and support for Colorado's growing biosciences industry. With more than 300 members, CBSA actively works to promote the growth of the industry by working for a better business environment, grow the state's biotech workforce, fight for policies that support a strong bioscience industry in the state and speak with a single voice on behalf of the industry.  For more information, visit http://www.cobioscience.com

About Faegre & Benson LLP

Faegre & Benson LLP is a full-service law firm with offices in Denver, Boulder, Minneapolis, Des Moines, London, Frankfurt and Shanghai, with more than 100 attorneys in Colorado and more than 475 worldwide.  Faegre & Benson is proud to support the Colorado and national bioscience industry with services in corporate law, intellectual property, labor and employment, financial transactions and a wide range of other legal services.  For more information, visit http://www.faegre.com

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Contacts:

Christine Shapard, Director of Bioscience and Emerging Industries, Colorado Office of Economic Development and International Trade, 303.892.3840, Christine.shapard@state.co.us

Maggie Chamberlin Holben, APR, Absolutely Public Relations http://www.absolutelypr.com — 303.984.9801, maggie@absolutelypr.com