Wednesday, July 15, 2009

Texas Emerging Technology Fund Invests In Five Firms

The Texas Emerging Technology Fund has made investments in five, San Antonio area companies, Gov. Rick Perry announced today, as part of the state's efforts to expand its technology sector. According to Gov. Perry's office, it has invested $2.5M in AdviTech, a developer of software to help combat vertigo and motion sickness; $2.5M in American Stem Cell, which is commercializing bone marrow transplant technology; $1M in Bio2Medical, which is developing a temporary inferior vena cava filter to help critically ill patients with pulmonary complications; $1.65M to Enthuze, which is developing social networking software; and $1M in Pronucleotein, which is developing food safety testing technology. The funding brings the ETF's total investments now to $99M, across 78 early stage companies.