Live Blogging the Southeast Venture Capital Forum

This morning, the 3rd Annual Southeast Venture Capital Forum is being held at The Wynfrey Hotel. Highlights from the event will be posted here throughout the morning.

  • Methodologic, LLC from Lawrenceville, Georgia
    • If a picture is worth a thousand words, then a video is definitely worth a million words
    • Their website is Vexpresssion.com (video expression)
    • Looking for first round investment to full QA the application, implement scalability, etc.
  • DiaKine Therapeutics from Charlottesville, Virginia
    • This is the 3rd company for the founder, having sold one and brought another public
    • $13B market opportunity
    • Addresses Type1/LADA and Type2 diabetes – has the only small molecule in competition in this space
    • Clinical trials begin soon, funded by NIH
    • Seeking funding to pursue proof of concept
  • Q-Track from Huntsville, Alabama
    • RTLS – real time locating systems
    • Aims to provide the GPS for indoor tracking
    • NFER… near-field electromagnetic ranging is a low frequency wireless tracking technology
    • The company is in the 'technology development company' phase
    • Seeking $0.5M to expedite product evaluation kits for rollout to the market
  • HeparinScientific from Birmingham, Alabama
    • Heparin is the most commonly used intravenous anticoagulant in the market
    • Protamine is the anti-version of Heparin, but the problem is that it should be matched to the quantity of Heparin in the bloodstream. Currently, the process is an 'estimate' – the company's electronic sensor accurately identifies the correct amount of Protamine to administer and then takes a follow-up reading to determine that the Heparin has been cancelled out
    • The working prototype needs to be miniaturized and made market-ready in a scalable manner
    • Seeking $2M for device construction and testing
  • MyGene International from Salt Lake City, Utah
    • Developing the MyHPV Chip Kit to complement Pap testing for cervical cancer
    • The product is ready to go to market
    • Has been approved and commercialized in Korea since 2004 and is already a $5M product in that country
    • Targeted for FDA approval anticipated in early 2007
    • Competition from Digene
    • Advantage for MyHPV Chip Kit is that it id's infection genotypes, not just a high or low risk for infection and can detech a single virus in the sample where Digene requires 5,000
    • Seeking $2-3MM for pre-commercialization efforts
  • FoodSource Lures from Birmingham, Alabama
    • World's only fishing lures made from food, not plastic
    • $100B market worldwide
    • Protein-rich food, scent atractants, durable, environmentally safe, and patented
    • Field & Stream said that the company has "one of the 50 best lures of all time"
    • Additional product line under consideration is an oral bait for wildlife to vaccinate for rabies
    • Expecting $53M total revenues by 2010 and
    • Seeking $1.5M to grow marketing, sales, management and upgrades of the manufacturing equipment
  • AQ2 Technologies from Homewood, Alabama
    • Transmitting digital images for payment processing
    • $500M addressible market in the US
    • 114 customers with Banks and financial institutions garnering 44%
    • $1M revenues for 2005 and projecting $2.5M for 2006
    • 6 other "major" competitors (Wausau, J&B, Netvantage, Creditron, Omega, and RTL) with lots of mom and pops in the marketplace
  • Applied Surgical from Hoover, Alabama
    • Sytem improves the device use in minimally invasive surgery
    • Two major problems that are addressed: accidental device activation and smoke plume evacuation
    • Integrates and controls all electrosurgical devices into a hub
    • Product is priced at $29.5K and protects existing device investments
    • Uses direct sales force and partners with electrosurgical device companies
    • Seeking $2M to build on $1.25M prior investments
  • MCM Technology from Birmingham, Alabama
    • Develop and sell proprietary asset management systems for mission critical pieces of equipment
    • New CEO coming on board in July (announcement in June)
    • Focuses on the public safety marketplace
    • Strategic partnership with GTSI
    • Project size range from $40K to $500K apiece
    • Seeking $3-5M to ramp up sales
  • BioDtech from Nashville, Tennessee
    • Current products with $1.3-2.5B market potential
    • EndoDtec-F could reduce cost of all injectible drugs and medical devices
    • EndoBind-R could reduce cost of biotech drugs
    • Technology invented in Singapore
    • Seeking $2.5M to complete research and clinical assays, then initiate preclinical studies
  • Phonex from Midvale, Utah
    • Later stage company, leader in the home communications with 12 million devices in the market
    • Field testing an ASIC chip that is embedded into the set-top boxes in the Huntsville area by DirecTV
    • $5M of revenue in 2005
    • Total $1.55B directly addressible market
    • Seeking $12.5M for ASIC development, personnel, and working capital
  • Brookwood Pharmaceuticals from Birmingham, Alabama
    • Formed in January 2005 as a spin-out of Southern Research Institute
    • Drug delivery is the focus with less procedures (injection, capsules, etc.)
    • 43 employees
    • Announced a collaboration with Genzyme Pharmaceuticals on 1 May
    • Not actively raising capital, but will consider doing so in the next 6-12 month window
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: