|
For immediate release
Contacts: Alan Fogg (FCEDA), 703-790-0600 (o), afogg@fceda.org
Christian Bunke (SmartBead Technologies Ltd.), 011-44-1223-496730
Sally Dobkin (Enlightened Technologies Assoc.), 703-359-4447
Fairfax County bioscience incubator
draws bead on first foreign-owned company
U.K’s SmartBead wins competition for year’s free rent and services in Fairfax County incubator; at the same time, Fairfax company wins free space in a York, U.K.,
science park
Fairfax County, Virginia, November 4, 2002 – SmartBead Technologies Ltd., a biotechnology company from Cambridge, England, won a competition among British businesses for space in the new Fairfax County BioAccelerator created by the Fairfax County Economic Development Authority (FCEDA).
SmartBead has developed a speedier process of bringing new drugs to the marketplace. The company’s UltraPlex ™ system uses microparticles etched with barcodes no wider than a human hair to tag and track molecules. The molecules—of a new drug, for example—are then mixed with test samples tracked and scanned for reactions to diseases or other substances. The UltraPlex ™ system can analyze thousands of microparticles at once, accelerating testing or diagnostic processes to improve productivity and cost effectiveness. For winning the competition, SmartBead will receive a year’s free rent and business development services at the BioAcclerator to expand into the U.S. market.
At the same time, a Fairfax company that has developed a drug-free product to counter sleep disorders, won a competition among Virginia companies to land a place in a British business incubator. Enlightened Technologies Associates Inc. won a year’s free rent at the York Science Park in the north of England to expand into the British and European markets.
The FCEDA organized the two-way competition with several British business organizations to spur transatlantic business development and boost Fairfax County’s presence overseas. Four companies from Virginia and five from the U.K. entered the competition. Awards will be presented Nov. 13 at a dinner in London.
The BioAccelerator is a project of the Fairfax County Economic Development Authority (FCEDA). The FCEDA hired ANGLE Technology Group to develop and manage the incubator for early-stage companies. The BioAccelerator is designed to house 10-12 client companies. ANGLE Technology also will work with “virtual” clients who participate in the business development program but do not take space in the BioAccelerator.
“The U.S. represents the largest pharmaceutical and diagnostics market for UltraPlex™ and naturally we intended to expand there at some point,” said SmartBead CEO Robert Booth. “Now we have been given a chance to do so ahead of schedule and with the knowledge that we are going to receive extremely beneficial help and guidance right from the start. We chose Fairfax because it is conveniently located close to the key pharmaceutical company clusters on the east coast and for its proximity to the NIH and national diagnostics laboratories offering us opportunities to collaborate with world-class organizations.” (more)
SmartBead was spun out of a joint venture between a Cambridge consulting firm and Cavendish Laboratories at the University of Cambridge. DNA was discovered at Cavendish Laboratories.
“SmartBead is exactly the kind of company we want to attract to the BioAccelerator and Fairfax County,” said Gerald L. Gordon, president and CEO of the FCEDA. “It has great potential to succeed in the marketplace and it can tap the many bioscience assets in Fairfax County and the region.”
“This is just the first international firm that will participate in our program,” said Lisa Smith, assistant director of the BioAccelerator. “Our targeted business development support will attract early-stage bioscience companies from around the world.”
About the FCEDA
The Fairfax County Economic Development Authority (www.FairfaxCountyEDA.org) promotes Fairfax County, Virginia, as a business and technology center. The FCEDA assists businesses by identifying possible sites and facilities, and is a source for up-to-date demographic and economic statistics. The FCEDA also has marketing representatives in London, Frankfurt and Tokyo.
About Enlightened Technologies Associates Inc.
Founded in 1995 and based in Fairfax, Virginia, Enlightened Technologies Associates Inc. (www.etai.com) develops medical devices and technology that enable physicians to alter patients’ human circadian (body clock) cycles. The Somnavue™ technology will enable physicians to treat sleep disorders, seasonal depression, jet lag and other disorders without the use of drugs. ETA has patented its technologies, developed prototypes, run NIH-sponsored clinical trials, put a management team in place and is in the process of preparations for FDA clearance.
About SmartBead Technologies Ltd.
Founded in 2000, SmartBead (www.smartbead.com) has developed a microparticle array technology, UltraPlex™, based on barcoded microparticles, which, in effect barcodes molecules. SmartBead will be a preferred solution provider of these multiplexing technologies for the drug development and diagnostics industries, and will lead the way in new approaches to analyzing multiple parameters through barcoded bioassays. SmartBead was founded to exploit technology developed by Sentec Ltd, a Cambridge, U.K., company, and the Cavendish Laboratories, University of Cambridge.
About ANGLE Technology Group
ANGLE Technology (www.angletechnology.com) is an international venture management and commercialization firm. ANGLE develops and manages research parks, accelerators and incubators; creates, manages and finances technology-based companies; and collaborates with companies, universities and government institutes to create companies based on protected intellectual property. ANGLE is based in Guildford, England, and has its U.S. headquarters in Fairfax County.
# # #
| 
