The Biotechnology Industry Organization is teaming up with biotech groups from 11 states and Canada to present a venture capital forum in Atlanta on May 9-11.
VentureForum East is expected to draw more than 100 biotech firms, with as many as 120 being selected to make presentations to potential investors.
BIO said that 30 investors and venture capitalists would review profiles of companies through an application process. BIO also will organize regional BIO Venture Forum “boot camps” where presenting executives will be “intensively coached and provided with the tools needed to refine their presentations and grow their enterprises” before the conference.
The North Carolina Biosciences Organization and the Georgia Biomedical Partnership are among the participating groups.
In addition to company presentations, the three-day event will include a variety of speakers, panel discussions and workshops.
“Bringing together capital and technology is essential for the successful growth of the biotechnology industry,” said Russell Medford, the 2005 chair of the Georgia Biomedical Partnership and CEO of Atlanta-based AtheroGenics, in a statement. “The BioVenture Forum East Conference provides a critical forum for growth by bringing together the most exciting private biotechnology companies and the leading life-science venture capitalists in the eastern United States and Canada.
“As a region of increasing importance in the robust growth of the biotechnology industry, we in Georgia and the Southeast are privileged to host this inaugural event.”
BIOTECanada is also a participant.
“BIO VentureForum East will showcase the best privately held biotech companies on the East Coast, from Canada and New England to the Southeast,” added Morrie Ruffin, vice president for business development and emerging companies at BIO. “Our association partners and an advisory board of leading venture capitalists will select the presenting firms, ensuring that the lineup reflects the industry’s regional and scientific diversity.”
Other participants include: Biotechnology Association of Alabama, Connecticut United for Research Excellence Inc. (CURE), the Delaware BioScience Association, BioFlorida, the Maryland Bioscience Alliance (Technology Council of Maryland), the Massachusetts Biotechnology Council, the Biotechnology Council of New Jersey, the New York Biotechnology Association, Pennsylvania Bio and the Virginia Biotechnology Association.
For more information, see: www.bio.org
Report: Trinity Convergence Lands $5.6M
Trinity Convergence, a developer of software for telecom applications, has won a new round of venture capital totaling $5.6 million, The Triangle Business Journal reports.
Trinity plans to boost staff and marketing efforts with the new funds from Intersouth Partners, Mid-Atlantic Venture Funds and Core Capital Partners, CEO Salim Bhatia told TBJ.
Trinity Convergence: www.trinityconvergence.com
Venture-Backed IPOs Soar in ’04
Companies backed by venture capital produced nearly $4.98 billion in initial public offerings through 2004, VentureOne reports in a story from Reuters.
The big driver was the $1 billion raised by Google.
In all, VentureOne reported 67 VC-backed IPOs.
In 2003, 22 IPOs generated $1.41 billion.