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Commercialization & Economic Development
ASTeCC/AgTeCC Campus Incubators
Business Development
Coldstream Research
Campus
Intellectual Property Development
Investor Relations
Kentucky Small Business Development Center
Kentucky Technology Inc.
Lexington Innovation and Commercialization Center
Technology Transfer
Von Allmen Center for Entrepreneurship
Contact:
EconDev@uky.edu
859.257.8296
University of Kentucky
A268 ASTeCC Building
Lexington, KY 40506-0286
______________________
Bluegrass Business Development Partnership
Commerce Lexington
Lexington-Fayette Urban County Government
University of Kentucky
330 East Main Street
859.225.5005
info@thinkbluegrass.com
www.thinkbluegrass.com
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First Quarter 2008
A message from UK President Lee. T. Todd Jr.
Welcome to the first edition of UKEconDevNews. We plan to update you each quarter on UK’s commercialization and business development activities, which not only impact our local economy, but provide economic development opportunities and jobs statewide. You can also read about our dynamic, break-through research, and success stories from companies that are partnering with UK, companies at our Coldstream Research Campus, and UK client companies across Kentucky. I applaud our talented faculty and staff for their fantastic work and congratulate all of the companies. Finally, we invite you to contact EconDev@uky.edu for details.
The University of Kentucky Means Business!
Lexington Early-Stage Companies Attract
a Record $64.5 Million
Venture capital investments grew to more than $37 million in 2007 according to the Lexington Venture Club’s annual survey of 55 early-stage companies in the Bluegrass area. The new investment total represents an 82 percent increase over 2006 and a 35 percent growth in jobs. A record 162 new jobs were created and 422 people were employed in these mostly tech-based companies. Thirty-two of the 55 companies that took part in the survey are based on University of Kentucky research or are associated with UK through a collaborative agreement.
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Exstream Software World Headquarters Opens
at UK’s Coldstream Research Campus
One of the world’s fastest growing technology companies has moved 144 Lexington-based employees to its new international headquarters at Coldstream. It was announced in late January that the 10-year-old Lexington company will become part of the Hewlett-Packard Company. Exstream Software was founded by UK alumnus Davis Marksbury, who now serves as company chairman, and includes five offices in Europe and one in Australia.
HP to Buy Lexington Firm
Exstream Software Acquisition Information Center
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New Business Development Partnership Serves
585 Clients, 660 New Jobs Created
“Growing Business, One Connection at a Time” is the idea behind the new one-stop, super-service provider known as the Bluegrass Business Development Partnership. It was established by the Lexington-Fayette Urban County Government, Commerce Lexington, and the University of Kentucky to link entrepreneurs and businesses with a complete team of economic development specialists at one convenient location. In the first two quarters of fy 08, the partnership served 585 clients that resulted in 660 new jobs created in the Bluegrass Region. Contact: info@thinkbluegrass.com, 859.225.5005, or stop in Monday through Friday, 8:30 am-5 pm, 330 East Main Street, 2nd floor. No appointment necessary!
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Coldstream Laboratories Inc. Begins Sterile
Contract Drug Product Manufacturing
Coldstream Laboratories has begun production of GMP small-batch sterile drug products at UK’s Coldstream Research Campus. CLI’s $17 million state-of-the-art manufacturing facility is one of a few in the country using isolator technology. UK alum Joe Wyse is President and CEO of the full-service pharmaceutical development company which offers analytical, microbiology and formulation development, as well as sterile product manufacturing of cytotoxic, potents and radiolabelled compounds for Phase I, II, and III clinical trials and some niche commercial products. The CLI management team also includes Tom Evans, Amy Fariss, Vadim Klyushnichenko, Dan Mahan, and Tim Mitchell. Currently, there are 45 employees at both the corporate office and manufacturing center.
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Construction of $50 Million Lexhold Center
Underway at Coldstream
The steel is up on the first of two buildings that will comprise the $50 million Lexhold International Center for Technological Innovation at UK’s Coldstream Research Campus. The five-floor, 160,000 s.f. building, located near the Embassy Suites Hotel on the northeast corner of the university’s 735-acre research campus, is expected to open at the end of the year. The multi-tenant spec building is currently more than 50 percent pre-leased to businesses including the American Board of Family Medicine, The Regus Group PLC, U.S. Drug Enforcement Administration, Wilbur Smith Associates Inc., and Software Information Systems Inc. Local contractors are working on the project.
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Bluegrass Company Briefs
AllTranz, a UK start-up company founded in 2004 by pharmaceutical sciences associate professor Audra Stinchcomb, secured $860,000 in capital seed funding to continue developing the next generation of pain management products. Investors include the Kentucky Seed Capital Fund, Commonwealth Seed Capital Fund, The Bluegrass Angels Venture Fund and The Bluegrass Angels. AllTranz is located at UK’s ASTeCC incubator. www.alltranz.com
Allylix Inc. has secured $3.35 million in funding to launch the first three of the company’s six initial products. Allylix develops fine chemicals and production platforms for the pharmaceutical, nutraceudical, agricultural and flavor & fragrance markets. Allylix was co-founded in 2002 by UK agriculture professor Joe Chappell and utilizes combined research from UK and the Salk Institute. Allylix has a lab at UK’s Coldstream Research Campus. www.allylix.com
Laura’s Lean Beef Co. was sold to Meyer Natural Angus. Both companies offer naturally-lean beef products from cattle raised on a vegetarian diet without growth hormones or antibiotics. The company is located at UK’s Coldstream Research Campus. www.laurasleanbeef.com
LevTech Inc. has been acquired for $27 million by ATMI Inc. in a move to unite the Lexington-based company with ATMI’s existing LifeSciences business focused on single-use bioprocess containers and processes for the biopharmaceutical industry. Located at UK’s Coldstream Research Campus, LevTech was founded in 2000 by former UK physics professor Alex Terentiev and LevTech Chairman Jeff Craig. www.levtech.net
Yaupon Therapeutics, a privately held specialty pharmaceutical company located at UK’s AgTeCC incubator, recently closed a $14.5 million round of venture capital financing. Based on the research of UK pharmacy professors and founders Linda Dwoskin and Peter Crooks, Yaupon is developing small molecule pharmaceuticals and currently has four products in clinical development. www.yaupontherapeutics.com
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New Campus and Coldstream Companies
ASTeCC Incubator: Neathery Technologies, Coplex Therapeutics, TriboFlow Separations LLC
Faculty-affiliated: Metal Separation Technologies, Nanotech Solutions
Coldstream Research Campus: Advanced Dynamics Inc., Allylix, Berryceuticals LLC, Biological Prospects LLC, Biopeutics, Lawrence Pharmaceuticals LLC, LevTech, Lexington Pharmaceutical Laboratories, Nanocepts Inc.
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KSBDC Client Headlines from Around Kentucky
Brady Built Technologies Inc, Lebanon, KY
Runner-up in Bank of America Client Success Story of the Year
Oscarware Inc, Hart County, KY
Awarded Woman Business Enterprise of the Year by Southeast Advocacy Group
Hitcents, Bowling Green, KY
Named One of America’s Fastest Growing Companies by Inc Magazine
KSBDC Joins an Elite Group with Full Accreditation
www.ksbdc.org/news-events/
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Three Lexington Companies Receive SBIR/STTR Phase Il Matching Funds
Naprogenix, ParaTechs, and Advanced Dynamics have received either SBIR or STTR federal research funding for small businesses and matching funds from an innovative state program begun in 2006. Kentucky is the first state to match both phases of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer Research (STTR) federal grants. Naprogenix and ParaTechs are located in UK’s AgTeCC and ASTeCC incubators respectively. Advanced Dynamics is located at UK’s Coldstream Research Campus.
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FY 2008 Patents
Nine patents have been issued to the University of Kentucky to date. Congratulations to the following UK inventors!
Grace Jones (Biology)
Darrell M. Taulbee (Center for Applied Energy Research)
Kenneth L. Calvert, James N. Griffioen (Computer Science)
Shirish Barve (Nutritional Sciences)
Nada H. Khattar (Oncology)
Peter R. Oeltgen, Subodh M. Lele, Manjiri S. Lele (Pathology)
Peter A. Crooks, Robert A. Lodder, Xiaochen Wei (Pharmaceutical Sciences)
Davy Jones, Craig J. McClain (Toxicology)
Daniel K. Howe (Veterinary Science)
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UK Research in the News
The following are just a few highlights from the work of University of Kentucky faculty and staff who make up UK’s $325-million-a-year research enterprise.
UK Blackberry Research Featured on NBC San Diego’s Coverage of Pharmaceutical Science Annual Meeting
UK Lung Cancer Blood Test Licensed
NIH Awards UK Additional $3.96 Million for Dirty Bomb Exposure Treatment
UK Researchers Discuss Atherosclerosis Disease in Nature
Microneedles Work in Humans for Transdermal Drug Delivery
Discover Magazine Quotes UK Bioethecist
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UK Expands Clean Room Facilities for
Faculty and Industry
UK’s Center for Nanoscale Engineering (CeNSE) has installed a new 500 s.f. Class 100 clean room in the ASTeCC incubator and expanded the space for the rapid thermal processor, atomic layer deposition, and reactive ion etch systems. The clean room now provides controlled temperature and humidity that are critical to produce consistent results for nano-scale projects. CeNSE is a for fee center available to all faculty and industry. Contact Chuck May, cmay.engr.uky.edu, 859.218.6549.
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UK Launches Rural Economic Development Initiative
Thirty-plus UK faculty, economic development researchers, and extension agents have joined together for a new initiative supporting innovative strategies for building local wealth in Kentucky’s rural communities. The UK group, under the leadership of the Appalachian Center, is developing a comprehensive program which will foster greater collaboration between UK and local and regional partners. The goal is to help localities plan and carry out community economic development strategies based on sound research and best practices. Contact Evelyn Knight, eknight@uky.edu 859.257.4852.
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