Life Science Technologies Conference - March 7, 2005
"In 2005 we were able to attract $1.34 million in new growth capital from a local
angel network and a venture capital firm based in Manhattan. This funding
has already allowed us to add key personnel to our company, expand our
product marketing and accelerate our sales growth.
Participating in the New Jobs for New York Life Sciences Conference in March
2005 in Buffalo and the Biotech Day in October in Rochester helped us
attract both the upstate angel investors as well as the venture capital from
New York City. We have also made our first sale to one of the companies that
helped to sponsor these events.
So far, since closing on our investment last December, we have added five new
engineering and manufacturing jobs, plan six additions to the company later
this year, and begun to expand our sales activity to Japan and the EU."
John Hart, President, Lumetrics, Rochester, NY
Exhibitor, New Jobs for New York Life Sciences Conference, March 7, 2005
New Jobs for New York And Senator Clinton Promote The Buffalo Region As A Leader In Life Sciences Technologies
Conference Showcases Innovations, Trends and Opportunities in Biotechnology, Biomedical Informatics and Medical Devices
Buffalo, NY - Today in Buffalo, Senator Hillary Rodham Clinton joined with New Jobs for New York in partnership with BuffLink, Buffalo Niagara Enterprise and the Buffalo Niagara Medical Campus to host a conference showcasing the cutting-edge medical technology industry that exists in the Buffalo region. The conference, "Life Sciences Technologies: Innovations and Opportunities in Biotechnology, Biomedical Informatics and Medical Devices," brought potential investors from across the state to get a first-hand look at the exciting work taking place in Buffalo.
Roger Altman, Chairman of the Board of New Jobs for New York, Inc. discusses the importance of shining a spotlight on the Upstate life sciences industry with reporters.
"New York has all the ingredients necessary to continue to lead the way in developing life sciences technologies," said Roger C. Altman, Chairman of the Board of Directors. "This conference will help ignite job growth by showcasing New York's world-class hospitals, research institutions, and leading life sciences innovators for top investors from all over America."
"New York is already a leader in medical technology - which is not surprising given our proud history of innovation. Today's conference gave us an important opportunity to bask in that history by introducing potential investors to many of Buffalo's leading medical technology innovators. It is my hope that today we have helped to establish partnerships that will enhance the companies involved as well as the region's economy," Senator Clinton said.
"Life Sciences Technologies: Innovations and Opportunities in Biotechnology, Biomedical Informatics and Medical Devices" provided an opportunity for emerging companies with high growth potential to network with investors, research institutions, and government officials; for established companies to discover partnership opportunities with start-up businesses that are commercializing cutting-edge research; and for investors to explore new technologies and new companies.
Senator Clinton meets representatives from CTG Life Sciences Solutions, a company based in Buffalo.
The conference, which featured a keynote address by Senator Clinton, included a trade show highlighting thirty-five of New York State's leading life sciences companies, top research institutions and federal resources as well panel discussions hosted by Senator Clinton featuring executives from the nation's leading life sciences companies and top life sciences investors from New York City, Boston, Philadelphia, and Connecticut.
The first panel: "Trends and Opportunities in Biotechnology and Pharmaceuticals" included Roy Davis, Company Group Chairman-Johnson and Johnson; Jonathan J. Fleming, Managing General Partner-Oxford BioScience Partners in Boston; Colin Goddard, Ph.D., Chief Executive Officer-OSI Pharmaceuticals; and Gregory T. Lucier, Chairman and Chief Executive Officer-Invitrogen Corporation. Dr. Peter B. Corr, Senior Vice President for Science & Technology at Pfizer Inc., delivered introductory remarks for the panel.
The second panel: "Trends and Opportunities in Medical Devices and Bioinformatics" included Susan Alpert, Ph.D.-Vice President for Clinical and Regulatory Affairs, Medtronic Corporation in Minneapolis; Eric Dishman, Director, Proactive Health Research, Intel Corporation and Chair, Center for Aging Services Technologies; Christoph Hergersberg, Ph.D., Global Technology Leader, Biosciences, General Electric Company, GE Global Research; Vijay Pillai, Director, Life Sciences, Oracle Corporation; and Elizabeth H. Weatherman, Managing Director-Medical Devices, Warburg Pincus LLC in New York City. Dr. Bruce Holm, Executive Director for the SUNY Buffalo Center of Excellence in Bioinformatics and Life Sciences, delivered introductory remarks for the panel.
The third panel: "Commercializing Cutting-Edge Research: Succeeding as a Life Sciences Entrepreneur in Upstate New York" included Barbara J. Dalton, Ph.D., Partner at Euclid SR Partners in New York City; Jean-Francois Formela, M.D., Senior Partner at Atlas Venture in Boston; Terry McGuire, a Co-Founder and Managing General Partner at Polaris Ventures in Boston; and Rick Richmond, an Entrepreneur-in-Residence at High Tech Rochester, a not-for-profit organization that serves technology-based businesses with training, consulting and connections to key resources. Roger C. Altman, Chairman of Evercore Partners, an investment and merchant banking firm in New York City and Chair of New Jobs for New York, Inc., moderated the panel. Gary Hull, Partner, Summer Street Capital Partners and Former President, Upstate Venture Association of New York, delivered the introductory remarks for the panel.
"New Jobs for New York was a great success and very instrumental for AccuMed structuring its financial strategic plans and future growth. AccuMed's revenues will surpass $30,000,000 in 2006 and we
are positioning the company to reach $100,000,000 by 2010. Our company began in 1994, achieving $600,000 in Revenue by year-end. In 1994 we employed approximately 30 people, and have increased our ranks to approximately 200 people as of first quarter 2006. We have also grown our production Western New York facilities from 12,000 square feet to over 65,000 square feet. New Jobs for New York has provided us with strategic introductions that have helped to facilitate our growth.
New Jobs for New York put us in contact with Alan Patricof, the chairman of Apax Capital. We learned a lot and we loved the opportunity to learn from him. Alan's support gave my partners Joe Di Maria, and David Holfoth great comfort, knowing that together with our funding through M&T and people like Alan our financing was in place to fund our growth.
New Jobs for New York also introduced me to Brian Flynn from Schlossberg:Flynn. Today we are working with S:F on millions of dollars worth of opportunities, that will provide potential jobs for the Buffalo, New York area. S:F is working with the largest companies in the United States, developing image, brand and assisting with strategic planning. We are confident that our partnership with S:F will further help us to achieve our long-term goals.
We are grateful to New Jobs and to Senator Clinton for their support."
- Tom Blaszczykiewicz
AccuMED Technologies Inc., Buffalo, NY
Exhibitor, New Jobs for New York Life Sciences Conference, March 7, 2005
PARTICIPATING COMPANIES
AccuMed Technologies Inc.
BioPhan
Bristol Myers Squibb
Buffalo BioBlower
Corning
CTG Technologies
Esensors Inc.
GNS, Gene Network Sciences
Health Systems Tech, Inc.
IMMCO Diagnostics Inc.
InfiMed
Intradialytic
Invitrogen
Kinex Pharmaceuticals
Lumetrics
MedWisdom Inc.
MioTech
Pfizer
Polymer Conversions Inc.
Reichert Analytical and Ophthalmic Instruments
Source Sentinel
SUNY ESF
Tata Consultancy Services
TherapyX Inc.
Toshiba Stroke Research Center
Trinity Biotech
United BioChemicals
Wilson Great Batch
ZeptoMetrix Corp.
Buffalo Niagra Medical Campus
BuffLink
Calspan-UB Research Center, Inc
Cornell's Weill Medical College
U.S. Department of Defense
U.S. Food & Drug Administration
Hauptman-Woodward Medical Research Institute
Jacobs Neurological Institute
National Institutes of Health
Small Business Association/SBIR
St. Bonaventure College
STOR
University of Buffalo Research Center