Four Lexington ICC client companies received $290,000 from the Kentucky Enterprise Fund

LEXINGTON, KY (Nov. 29, 2011) — Four Lexington ICC clients, Frogdice, Pheeva, customKYnetics and Equinext, received $290,000 or 62 percent of all funds awarded in the latest round of the Kentucky Enterprise Fund (KEF). KEF is a state-funded, venture capital-like fund that invests in Kentucky-based seed and early stage technology companies. Funding for KEF is provided by the Kentucky Council on Postsecondary Education.

customKYnetics is an R& D company that develops rehabilitation engineering products. They design medical devices that use electrical stimulation to activate muscles for physical therapy, primarily in three markets — exercise, neuro-rehabilitation and sports medicine.  Eric Hartman co-founded customKYnetics as a University of Kentucky graduate student in 2000 with Jimmy Abbas, then an associate professor in the Center for Biomedical Engineering. customKYnetics, located in Versailles, Ky., received a $30,000 award. customkynetics.com

Frogdice creates online role playing computer games and virtual worlds. The company has released two games, and has a third game in production. Frogdice won 5 Across in March and presented to the Lexington Venture Club. Located in Lexington, Ky., Frogdice received a $30,000 award. www.frogdice.com

Equinext LLC, a biotech spinoff company, and Hagyard Equine Medical Institute formed a partnership to bring a medical device to the equine market to treat tendon and ligament injuries and Wobbler's Syndrome in horses and other animals. Equinext will use its chemically-made injectable reagent device on these lower leg strains and sprains, which are very common in all types of performance horses and have a high rate of reoccurrence. Clinical trials are expected to begin in the next year. Equinext, located at UK Coldstream Research Campus in Lexington, received a $200,000 award. www.equinext.net

Pheeva is an HTML5 platform that allows both developers and gamers to win. Game developers who have a great idea for a game, but do not have the time or ability to make a backend system can sign on with Pheeva and get the HTML5-based platform that will allow their players to buy electronic tokens to play their game or others on the Pheeva platform. Those tokens bought and won by players can be redeemed for prizes. Pheeva, located in Lexington, received a $30,000 award. pheeva.com

About the Lexington ICC

The Lexington Innovation & Commercialization Center is part of the Von Allmen Center for Entrepreneurship and the Kentucky Department of Commercialization & Innovation ICC statewide network to help entrepreneurs build successful high-tech businesses. The Von Allmen Center is part of the UK Office for Commercialization & Economic Development.