Venture Funding Totals $55 million for UK Affiliated Companies

Lexington, Ky – (Feb. 20, 2009) Venture funding, including angel and venture capital investments and mergers and acquisitions, for UK-affiliated companies hit $55 million last year according to the Lexington Venture Club’s annual survey of early stage companies in the Bluegrass. Of the 68 area companies surveyed, 39 were associated with UK either through licensing technologies, collaborative projects, or faculty/staff startups. These UK companies created 98 new jobs, including 68 fulltime positions with an average salary of $70,000, employ a total 239 people, and reported annual revenue of $16.4 million. The majority of the companies are in the biotech & healthcare, IT & software and advanced manufacturing industry sectors.

The report was released at the Lexington Venture Club’s annual Celebrating Entrepreneurs event (Venture Funding Hits Record $69 Million for Lexington Area Companies). UK companies Mersive Technologies, LevTech, and Coldstream Laboratories and UK alumnus Davis Marksbury were also presented special awards at the event.

The following is a listing of the UK affiliated companies that participated in the Lexington Venture Club survey.

Adaptive Intelligent Systems - Yu Ming Zhang, Engineering
Advanced Machine Technologies, LLC - L. Scott Stephens, Engineering
Agri-Grow Technologies - Robert G. Anderson, Agriculture
Alkymos - Robert Yokel, Pharmacy
AllTranz - Audra Stinchomb, Pharmacy
Allylix - Joseph Chappell, Agriculture
ALT BioScience - Boyd Haley, Arts & Sciences
APST - Daniel Tao, Engineering
Artemetrx - Robert Littrell, Pharmacy
Berryceuticals - Russ Mumper, Pharmacy
Biological Prospects - Pat Lawless, Agriculture
Bluegrass Angels - Richard Furst, Business & Economics
Coldstream Laboratories - Joe Wsye, Pharmacy
CoPlex - Bert Lynn & Mark Lovell, Chemistry
customKYnetics - Eric Hartman, Engineering
Direct i2i - Ruigang Yang, Engineering
ECM Biosciences - UK Medical Center collaboration
Fresh Flavors - David Hildebrand, Agriculture
IP Pharmaceuticals - Guangxiang (George) Luo, Microbiology
Lawrence Pharmaceuticals - UK Medical Center collaboration
LevTech/ATMI - Lance DeLong, Engineering
Mersive Technologies - Chris Jaynes, Engineering
Nano-Mite - Patrick Sullivan, Spinal Chord & Brain Injury Research Center
Nanotech Solutions - Vijah Singh & Suresh Rajaputra, Engineering
Naprogenix - John Littleton, Pharmacy
Neathery Technologies - James Neathery, Center for Applied Energy Research
NuForm Materials - Tom Robl & Brock Marrs, Center for Applied Energy Research
Oraceuticals - Chifiu (Brad) Huang & Jeffery Ebersole, Dentistry
Outrider Technologies - John Anthony, Chemistry
ParaTechs - Bruce Webb & Angelika Fath-Goodin, Agriculture
Quanteon - Greg Gerhardt & Peter Huettl, Anatomy & Neurobiology
Scout Diagnostics - Bert Lynn & Mark Lovell, Chemistry
Sfenity Software Development - Brian Raney, Business & Economics
Stallion Therapeutics - Edward Hall, Spinal Chord & Brain Injury Research Center
StatTech - Arnold Stromberg, Arts & Sciences
Topasol - Uschi Graham, Engineering
TranSecurity Systems - Fred Payne & Chris Thompson, Agriculture
Transposagen - ASTeCC Company
Tribo Flow Separations - John Stencel, Center for Applied Energy Research