BIOMASON, NOVA SYNTHETIX AND BASETRACE RECEIVE COMPANY INCEPTION LOANS
RELEASE: IMMEDIATE CONTACT: Ronda Closner
Date: 6/13/2013 PHONE: 919-622-5000
RESEARCH TRIANGLE PARK, NC (RTP) – Three clients at First Flight Venture Center have been awarded Company Inception Loans (CIL) from the NC Biotechnology Center.
The CIL Program is designed to help bridge the early-stage funding gap that many North Carolina biotechnology companies face. Through the CIL program, loans of up to $50,000 are available for biotechnology companies in North Carolina. This program supports non-scientific business inception and related activities that are critical to the early-stage start-up of a biotechnology companies.
BaseTrace, provides a well-specific DNA-based tracer that can be added to the hydraulic fracturing fluid, enabling us to determine whether connectivity exists between drilling sites and ground or drinking water. The tracer is composed of inexpensive, inert strands of resilient DNA mixed into hydraulic fracturing fluid, providing each well with a chemical fingerprint that is simple and cheap to identify.
Nova Synthetix was formed in 2012 to further exploit the unique properties of castor using recent developments in biotechnology to create a safe, non-polluting, renewable, non-food feedstock for high-value chemical and biofuels.
bioMASON is a unique biotechnology start-up manufacturing company with a natural process that will revolutionize the building and construction industry. bioMASON employs natural microorganisms and chemical processes to manufacture biological cement-based masonry building materials.
“We are pleased three of our clients were able to receive a Company Inception Loan from the Biotechnology Center, “ indicated Andrew Schwab, President of First Flight Venture Center. “These companies are poised to make a difference,” he continued.
About First Flight Venture Center: First Flight Venture Center (www.ffvcnc.org) is the original and largest RTP technology incubator which averaging 37 tenants on an annual basis. FFVC, originally spun out of the NC Department of Commerce in 1991, was established as a nonprofit to serve the initial needs of entrepreneurs and early stage companies. Today, First Flight is one of the nation’s largest and most stable incubators and has played host to more than 276 companies since its inception. Some of the most recognizable companies that started at FFVC include United Therapeutics, SciQuest, Bloodhound, Ganymede Software and ExamDesign, Inc.