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KC BioMediX ...KDH Defense Systems ... Keithley Instruments ... Komoku ... Kiva Systems ... Knopp Neurosciences ... Konarka ... Koning ... Kopin ... Koronis Pharmaceuticals Kosan Biosciences ... Kovio ... Kronos Advanced Technologies ... KVH ... Kylin Therapeutics ... Kyma Technologies ... Kyron Clinical Imaging ... LAAMScience ...LabNow ... Laborie Medical Technologies ... Landec ... LaserMotive .... Lawrie Technology ... LeCroy ... LED Lighting Fixtures ... Lexicon Genetics ... Lexicon Pharmaceuticals ... LifeCell ... Ligand Pharmaceuticals ... Lightpointe ... Linares Management Associates ... Liquidia Technologies ... LiquidPiston ... Lithium Technology ... LiveData ... LS9 ...Lumencor ... Lumera . ...Luminary Micro ... Luminex ... Luminus Devices ... Lumitex ... Luna Innovations ... Luna Technologies ... Luxtera ... Lynntech .. Macrochem ... Macrogenics ... MagneMotion ... Magnetek ... Magnolia Optical Technologies ... Mainstream Engineering ... Mako Surgical ... MapInfo ... Marcadia Biotech ... Martek Biosciences ... Mascoma ... Mashery ... Mason Box .. Material Sciences ..Material Technologies ... MathStar ... Matouk Textiles ... Matritech ... Maxdem .., Maxygen ... Mechanical Technology ... Medarex ... MedImmune ... Medis ...Memjet ... Memry ... Memsic ... MEMS Optical... Mesocopic Devices .. . Metabasis ... Metabolix ... MetroLaser .... MER .... Merge Technologies ... Meridian Bioscience ... Mersana Therapeutics ...Micracor ..Micrel ... Microbia ... MicroCoating ... MicroMask .. Micronics .... MicroOptical (New Mexico) ..MicroOptical ... Microstaq ... Microvision ... Mid Valley Industries ... Minerva Biotechnologies ... Mirna Therapeutics ... Mirus Bio ... Mission Research .. Mithridion ... Mobile Robots ... Molecular Imprints ... Molecular Biometrics . ... Molecular Insight Pharmaceuticals ... Molten Metal .. Momenta Pharmaceuticals...Monebo ... Morphormics ... Morris Innovative Research ... Motricity ... MPP Group ... Munksjo Paper .... Myocor ... Myomo ... Myriad Genetics ... Nano-C ... Nanobiosym ... Nanocomp Technologies ... NanoCoolers ... Nanocopoeia ... NanoCor Therapeutics ... Nanodynamics (Buffalo) ... Nanodynamics (NYC) ... Nanogen ... NanoGram ... Nanomaterials Research ... NanoMatrix ... Nanomix ... Nanophase Technologies ... Nanoptek ... Nanosolar ... Nanosonic .... Nanosphere ... Nanosys ... NanoSystems ... Nano-Terra ... NanoTune Technologies ... Nanovation Technologies ... Nantero ... Nascentric ... Nastech Pharmaceutical ... NaturalNano ... Natus Medical ... Navini Networks ... Navmar Applied Sciences ... Neah Power ... Netezza ... NetLogics Microsystems ... Nektar Therapeutics ... Nekton Research ... NeoChord ... NetworkFab ... Neurobiological Technologies ... Neurocrine Biosciences ... Neurogen ...Neuroges ... Neurognostics ... NeuroMetrix ... Neuron Systems ... Neuroptix ... Nextreme Thermal Solutions ... NimbleGen Systems ... Night Vision ... NextIO ...NitroMed .... Nitronex ...nLight ... NMT Medical ... Noble Fiber ... Nomadics ...Novacea ... NovaScan ... Nonvolatile Electronics .. Northeast Photosciences .. Northstar Neuroscience ... Northstar Battery ... Northstar Photonics ... Northwest Biotherapeutics ... Novalux ... Novecon Technologies .. Novocell ... Novomer ... NP Photonics .. Nutrabiotix ... NuVant .. Nuventix ... Nuvera .. NZ Applied Technologies ...ObjectVideo ... OBS Medical ... Ocean Power Technologies ... OCI ... Oculus ... Oddpost ... Oil Chem Technologies ... Omeros ... OmniGene Bioproducts ... OmniGuide ...OmniLyticsOncogenex ...Oncolytics Biotech ... Onyx Pharmaceuticals ... Open Silicon ...OpGen ... OPNET Technologies ... OptTek Systems ... Optelecom ... Optelecom-NKF ...Optical Concepts ... Optigain ... Optimal Technologies ... Optimer Pharmaceuticals ... Optivision... Orchid Cellmark ... Organogenesis ... Orologic ...Ortel ... Orion Energy Systems ... Orion Genomics ... Oryx Technology ...Oscient Pharamceuticals ... Osiris Therapeutics
KC BioMediX (DeSoto, KS)The Kansas Bioscience Authority announced four grants totaling $4.85 million to help companies in the state. KC BioMediX of De Soto, VasoGenix Pharmaceuticals of Lenexa , Ventria Bioscience of Junction City ($500K SBIR), MGP Ingredients (public) of Atchison. [Kansas City Business Journal, Jul 15, 08] KDH Defense Systems (Johnstown PA)KDH Defense Systems (Johnstown PA; no SBIR) makes Navy body armor and Army elbow pads in a converted bra factory, and Mr. Murtha asked for a $2 million earmark to help the company improve its bulletproof vests. Another earmark would provide $3 million for KDH to develop a “waterways threat detection system.” The company’s lobbying firm is KSA Consulting, which employed Mr. Murtha’s younger brother, Kit, until 2006. The firm has contributed $4,000 to Mr. Murtha’s campaign since 2005. [Marilyn Thompson and Ron Nixon, New York Times, Nov 4] Keithley InstrumentsKeithley Instruments fell 16%. The Cleveland maker of measurement technology for electronics manufacturers warned of a fiscal second-quarter sales shortfall, citing a reluctance among customers to spend on capital equipment. [Wall Street Journal, Apr 14] Kiva Systems (Woburn MA)Walgreen's installed Kiva Systems (Woburn MA; no SBIR) robots in its warehouse. Kiva got $10M VC in 2005. [Mass High Tech, Nov 7, 07]
Knopp Neurosciences Innovation Works, Hazelwood (PA) VC fund,
in 2007 invested $6.1 M in technology companies,
including its 100th investment. The
specializes in giving a leg up to young technology
companies cites three [no SBIR] success stories:
Knopp Neurosciences, which is working on a drug
therapy to slow the advance ALS ("Lou Gehrig's
disease"). ... granted "orphan drug" status by the FDA ;
Printed electronics manufacturer Plextronics,
which attracted more than $20 M in new investment last
year and set an efficiency record with its solar cells;
Thorley Industries signed a $215 M deal with
Hasbro for that company to manufacture and sell a new
line of Thorley products [Elwin Greene,
Pittsburgh Post-Gazette, May 2]. KomokuA startup funded by [DARPA] is ready to emerge from stealth mode with hardware- and software-based technologies to fight therapid spread of malicious rootkits. Komoku, of College Park, Md., plans to ship a beta of Gamma, a new rootkit detection tool that builds on a prototype used by several sensitive U.S. government departments to find operating system abnormalities that may be linked to malicious rootkit activity. [Ryan Naraine, eWeek, Apr 24, 06] Konarka (Lowell, MA)Konarka Technologies opened its first commercial scale, roll-to-roll solar manufacturing facility at the former home of the advanced printing technology division of Polaroid Corp. in New Bedford. [Mass High Tech, Oct 7, 08] Konarka claims the first-ever demonstration of inkjet printing manufacturing of solar cells of Power Plastic®, a material that converts light to energy. [press release, Mar 4, 08] Konarka Technologies (Lowell MA) got a $4.7M ATP award with Air Products and Chemicals ($21B market cap with $150M R&D) for R&D on transparent, flexible solar modules for windows and other building-related applications. Earlier this month, the company closed a $45M round of funding, bringing its total capital investment to more than $105M .[Mass High Tech, Oct 9] Where is the line between technology nurturing and corporate welfare? When is too much government? But we let our politicians use the same tired lines to get our votes when we and they know they have no hope of actually doing what they promise. The Arizona senator promised to rein in runaway federal spending, simplify the tax code, help U.S. industries become more competitive and control spiraling health care costs.... "I will not let the Democrats roll back the Bush tax cuts," while he offers no way to pay for the war he applauds. Another candidate Robin Hood offered: Every citizen could get a 401(k) retirement account and up to $1,000 in annual matching funds from the government. At least that candidate had a plan to pay for it - taxing rich estates. Have we learned anything in the last six years about free lunches and government getting out of control? Konarka entered into a development agreement with Tokyo-based Toppan Forms Co. Ltd., a maker of printable electronics and digital information technologies. [Mass High Tech, Sep 11] Konarka Technologies which has developed an organic plastic film that converts light into low levels of energy and can be used to power electronic devices, plans to raise another $40 million to add to the $80 million of venture capital it already has. The Lowell, Mass., firm is putting the finishing touches on commercial prototypes and expects to be in broader production by 2008. [J Schieber and Y Chernova, Wall Street Journal, Aug 27] Konarka and its flexible plastic solar cell strips are expecting a visit from Energy Secretary Bodman who will announce a grand award from Bush's Solar America Initiative. The six-year-old private company has attracted nearly $60M in venture capital funding. and nearly $10M in grant money from U.S. and European governments. [Mark Jewell, AP, Mar 8] Michael Grätzel, [Swiss] chemistry professor is most famous for inventing a new type of solar cell that could cost much less than conventional photovoltaics. Now, 15 years after the first prototypes, (the Grätzel cell) is in limited production by Konarka, a company based in Lowell, MA, and will soon be more widely available. [Kevin Bullis, MIT Tech Review, Sep 12] Still private Konarka had one Navy SBIR Phase II but apparently missed the Energy Dept train last year for a second. Konarka Technologies (Lowell, MA), a developer of Power Plastic photovoltaic products, got another $20M of VC which pushes total VC over $60M since 2001. [Mass High Tech] Konarka got a $1.6M Army contract light-activated power plastic. [Apr 05] The cheap nanomaterial photovoltaic by Konarka Technologies (Lowell, MA) raised $18M and expects to introduce its first products by New Year's before it even finishes its Navy Phase 2 SBIR. The Navy liked enough to invite the company for a show-and-tell at a recent big Navy conference “Naval Research in the 21st Century: Dilemmas and Solutions.” Konarka which has subsidiaries in Austria and Switzerland has as its technical leader Alan Heeger, Nobel laureate who was connected to SBIR at his earlier California company - UNIAX.
Koning (Rochester, NY)NIH Commercialization Assistance Program participant Koning's (Rochester, NY; $2.7M SBIR) technology platform, Cone Beam Computed Tomography (CBCT) affords accurate 3-D imaging of breast tissue with an innovative cone beam X-ray source, a detector that captures high resolution data as it circles the breast, and patented software that generates 3-D images of the tissue. The potential of the technology has been recognized by the scientific and business communities. Currently, funding for the development of CBCT has reached nearly $11 million dollars, including a $2.5 million SBIR grant from NIH awarded in 2005. [LARTA Vox Oct 16] Kopin Corp (Taunton, MA)Kopin up 17% [Sep 18, 08] Kopin down 10% [Sep 17, 08] Kopin up 10% [Sep 16, 08] Kopin down 10% [Jul 14, 08] Kopin got a $600K NASA contract to participate in a solar-cell development program for future space exploration missions. [Boston Globe, May 2, 08] If you can't make a big profit in the real marketplace, you can make a small profit and cover some overhead with government R&D contracts. Still SBIRing. Public for nearly two decades with a large cumulative net loss, Kopin won a NASA STTR Phase 2 InN-Based Quantum Dot Solar Cells with VaTech. Hey, it's riskless and free revenue, even though it comes from an investor with no concern for the company's fortunes. Kopin up 24% [Mar 28, 08] Kopin up 18% [Mar 18, 08] Kopin said that Fujifilm will put Kopin's electronic viewfinder in a new ultra high-zoom digital camera [Nov 07] Kopin reports it will supply [maybe 150,000 of] its CyberDisplay liquid crystal display to the U.S. Army's new thermal weapon sight program, the TWS Bridge. [Mass High Tech, Nov 6, 07] Kopin got a delisting warning from NASDAQ. [Aug 3, 07] More, More, the Army Wants More of Kopin's display system hardware, the war-time demand for which contributed nicely to Kopin's $12M profit for 2005. Kopin got hit 14% when it reported a little less revenue and a huge percent dip in profit, although big profit never has been a Kopin hallmark. [May06] Kopin got a production sub-contract from ITT Industries Night Vision (ITT) which wants Kopin's micro-displays for its potential $560M contract to supply the Army’s Enhanced Night Vision Goggles. [Mass High Tech, Nov 29, 05]Kopin cut two deals at the ElectronicAsia Show in Hong Kong: a HK semiconductor company will sell Kopin’s plug-and-play Binocular Display Module for mobile video eyewear in China , and a Taiwan company is putting Kopin’s BDM into a Theatre system it has just started shipping worldwide. [Mass High Tech, Oct 13] Kopin rose 12% for reporting a profit, any profit. [Aug 05] Kopin got a $3.2M contract to develop ultra-high resolution color postage-stamp size head mounted microdisplays for the Army's Future Force Warrior. It will be an enhanced full-color version of Kopin's monochrome CyberDisplay 1280 AMLCD. [Mass High Tech, Mar 3, 04] Now if Kopin could also make a profit. In its decade of being public, it has lost a big pile. Still CEO John Fan keeps smiling in public, We begin the new year well-positioned with compelling technologies, differentiable products, tier-one customers and solid financial resources. Bright ideas. [Scott Kirsner, Boston Globe, 8/25/03] Kopin (among many) wants to replace all these crazy light bulbs with LEDs. .Kopin has been poaching engineers from other local chip companies, and investing heavily in a new production line in Taunton to produce LEDs. The company shipped 20 million LEDs in the second quarter, most of which will be used to illuminate the displays and keypads of cellphones. John Fan, Kopin founder-CEO, has had such dreams in the past about GaAs and teeny TVs but has never been able to turn any idea into a cash and profit cow. Kopin now is talking about being an LED company, having already been a GaAs company and then a mini-display company. What it has never been is a consistent money-making company as reflected in its stock price being about 8% of its Y2K bubble price. Kopin "spokesman" Tim Monroe told the Wall Street Journal (Dec 19) about how much energy would be saved for the nation. Companies should stop talking such nonsense since consumer behavior in the face of a lower cost per unit of energy may actually use more energy. SBIR companies know nothing about the complex markets where consumers operate. But then talking up your product is part of capitalism. SBIR proposers probably needn't worry about talking nonsense since all the evidence points to the government's wanting to hear the nonsense so they can repeat it in self-serving tech transfer stories. [Jan 03] Although the quarterly profit was as flat as the Kopin's flat panel mini-displays, the traders pounded the stock price down 29% Friday when the company issued a gloomy forecast of a 25% cut in revenue (which is typically optimistic). For a decade now Koipn has been a consumer of capital without any return of profit From a peak of $50 a share back to its 1992 IPO price. Kopin of course is not alone as all the semiconductor companies suffer the present down-cycle in their boom-bust industry. (Oct 28, 02) Announce an advance; lose 10%. Kopin lost 10% on a day that it announced milestone performance results for GaAs-based GaInAsN (GAIN) heterojunction bipolar transistors (HBT). With an operating voltage more than 150 mV lower than conventional GaAs-based HBTs. Could it be that the market wants to see profits more than it wants more technical advances? Kopin reported soggy earnings. Quarterly revenue down 25% and a net loss of $6.8M, compared with $2.3M profit last year's quarter.Kopin's market cap slipped below $500M (which ain't terrible for an SBIR stock) from its highs a year ago in the $3B range. Kopin fell 26% when it reported a fourth-quarter loss because of restructuring costs and said it would post a loss in the first quarter, too, due to a softer consumer electronics market and other issues. The company press release highlighted the 81% growth in revenue. The market didn't think that the verbiage about re-structuring sufficiently explained the failure to be a high profit growth company after a decade of capital consumption as dream company.Kopin's stock price is down 80% from its high a year ago. Benchmarking Not Much Help. Even though Kopin was named to the S&P Small Cap 600 Index, it has fallen 80% from its spring high after another 7% cut yesterday. Kopin claims to be the leading provider of gallium arsenide (GaAs) heterojunction bipolar transistors (HBT) for advanced telecommunications, and miniature flat panel displays for digital imaging applications. Kopin, the leading U.S. manufacturer of miniature flat-panel displays for the consumer electronics market, has shipped its one-millionth CyberDisplay(TM) 320. CyberDisplay is an integrated system that uses Kopin's proprietary single-crystal silicon on glass display technology to offer superior image quality and low-power consumption in an ultra-compact size. Kopin sold its one-millionth display slightly more than one year after launching the product. The first CyberDisplay was introduced in Victor Company of Japan (JVC) camcorders in July 1999. Matsushita Electric Industrial Co., Inc. (Panasonic) and Samsung Electronics followed JVC with the introduction of CyberDisplay-enabled camcorders earlier this year. Kopin got a $2.3M engineering contract from the Army to develop the production model of its CyberDsiplay1280. Normally, such a contract precedes a good size production run (if the Army can get the big money from the fractious Congress.) Still Kopin's stock is down by half from its spring high but 500 times its negligible earnings. Kopin starts shipping Kopin caps a killer quarter with wonderful wafer deal. A lot can happen in three months. For Kopin Corp quite a lot did. The Taunton company announced the multi-million dollar sale of its transistor wafers to Mitsubishi Electric Corp; demand for its products outstripped the rate at which Kopin could manufacture its technology. And Kopin’s share price on NASDAQ rose about 162 percent, settling around $78 a share last week and spiking the company’s market valuation to $1.2B. This all occurred despite Kopin reporting a net loss of $354K in the third quarter. For a company created by visionaries from MIT’s Lincoln Lab, which has been long on technology and short on commercial application and sales, things are looking up. Analysts who thought the company was on the brink of an upturn several times during the past few years say that this time, it’s for real. Sales in 1998 increased 64% to $27M. The consensus of brokers surveyed by Zacks Investors rate Kopin a strong buy, driving up its share price. [Kate Munro Mass High Tech, 27 Dec 99] Kopin RisingQuiet Kopin's technology set to make noise at last, say Steven Syre and Charles Stein in the Boston Globe Nov 16]. Kopin is a small technology company with no profits and a stock that has tripled in price since June. An Internet company, right? Wrong. Internet companies are born hot. Kopin, which is based in Taunton, has been plugging away for 15 years, mostly in obscurity. It has taken that long for the company's scientists to find real-world applications for their Buck Rogers technology. ''I think our technology was ahead of the market,'' says John Fan, Kopin's patient founder and chief executive. Fan and a handful of others left MIT's Lincoln Laboratories in 1984 to start Kopin. Their goal was to make semiconductors using a technique with parallels to genetic engineering. Like their counterparts in biotechnology, they found the task more difficult than they imagined. The company went public in 1992 and didn't come out with its first product until 1995; its second product debuted in 1997. Kopin has never had a profitable year. But that may be about to change. The small group of analysts who follow Kopin's fortunes predict the firm will mark the millennium with its first-ever profit. Kopin Wins in Japan Kopin Wins in Japan Kopin Expands Again Profit or Loss for Kopin? Sound Vision today announced an agreement to develop production-ready digital camera designs that incorporate Kopin's color CyberDisplay. The first design resulting from this partnership, the 1301 Reference Design, is for digital imaging manufacturers that desire to build a low power VGA camera at the most competitive cost possible. CyberDisplay will function as the camera's viewfinder and as the display used to review previously stored photographs. The CyberDisplay will also allow OEMs to build very small, lightweight cameras and other imaging devices for entirely new markets. The 1301 Reference Design, now being made available to camera OEMs, combinesSound Vision's new Clarity 2.0 digital imaging technology with the color CyberDisplay. [Business Wire, Dec 17] Kopin Sliding If you bought the secondary issue of Kopin at 19 a few weeks ago, you would be minus 25% while the Dow-Jones is making new highs. The problem probably runs deeper than the Chinese reference to peace in Kopin's name. Kopin has bled capital since its beginning in the 80s, but always with optimistic investors ever to be found anew. Kopin-POC combine technologies. Kopin's world's smallest active-matrix LCD was helped by SBIR-junkie (oops, expert) Physical Optics Corp (Torrance, CA), says December Photonics Spectra. POC contributed a holographic light shaping diffuser. Making a going concern of the product, though, depends on consumer acceptance - a chancy proposition especially for small companies. For when the acceptance is purely economic, both sides can estimate the chances of success. But when consumer psychology enters, anything could happen. What, for example, is the economic value of the ability to view your e-mail in your cellular phone? If you are proposing such technology to SBIR, you will have a problem convincing any government skeptic of the market value of something that does not exist today. If Kopin is lucky, the market will accept the product before the capital finally runs out. Eventually, all that capital poured into Kopin will end and Kopin may be forced back to SBIR on a much smaller scale that its past five years of burning capital. Meanwhile, Kopin plans to sell another $2M shares to the public half of which goes to Kopin and the other half to cash-out of earlier investors. Quarter-Inch Screen Quarter-Inch Screen Kopin Rolls Out Wafer Kopin Rolls Out Wafer Kopin-Siemens Deal Kopin Corp (Taunton, MA) saw its stock jump up when it announced a licensing deal with Siemens. The tiny camera of Kopin Corp (Apr 8 story) made Business Week, Apr 21. Tiny Video Display Buy for $60 a CyberDisplay, a monochrome 20-inch computer display from Kopin (Taunton, MA). Color version to be priced later. It's Kopin's newest product with which it hopes to reverse the annual losses, $21.6M last year, that are eating the capital and the capitalists' convictions. Still, the stock price reflects a lot more confidence than does the price of SI Diamond Technology, a competitor for future displays. Up Capacity for GaAs Kopin Corp (Taunton, MA) will triple its capacity for GaAs wafers to meet skyrocketing demand for semiconductors for wireless and fiber optics. Kopin claims to supply 90% of the market for heterojunction bipolar transistor GaAs wafers. The capital was obviously available for the purchase despite Kopin's losing money in big hunks in its quest for the flat panel display market. Kopin used SBIR for some of its early R&D in GaAs but survived on private capital for flat panel displays. Kopin Takes a Bath Kopin Corp (Taunton, MA) got soaked in a $6.2M quarterly loss leading to a $21.6M loss for the year. $8.9M was a write-down which in principle happens only once. Revenues were down for the quarter but up for the year. The flat panel display industry has a lot of wounded soldiers. Kopin's Results: Growth 23%
Koronis Pharmaceuticals (Redmond, WA)Koronis Pharmaceuticals (Redmond, WA, one SBIR) got $20M VC. [Seattle Times, Jun 29] No apparent connection to SBIR winner Koronis Biomedical in Minnesota.
Kosan BiosciencesKosan Biosciences more than tripled in Nasdaq trading after Bristol-Myers Squibb Co. agreed to buy the company for $235 M. Bristol-Myers, bracing for the loss of $3 billion when its top-selling blood thinner Plavix faces generic competition in four years, is slashing costs and searching for new products. The purchase gives it Kosan's anti-cancer compounds, now in human testing. [San Jose Mercury News, May 29, 08] Kosan Biosciences down 10% [Feb 14, 08] Kosan Biosciences up 13% [Feb 13, 08] Kosan Biosciences up 11% [Feb 11, 08] Kosan Biosciences up 12% [Jan 24, 08] Kosan Biosciences up 15% [Jan 23, 08] Kosan Biosciences down 11% [Jan 17, 08]. Kosan Biosciences up 12% [Dec 19, 07] Kosan Biosciences down 43% [Dec 10, 07] on bad news from its blood-cancer patients. Kosan Biosciences up 11% [Nov 13, 07] Kosan Biosciences up 10% [Sep 18, 07] Kosan Biosciences up 14% [Aug 16,07] Kosan Biosciences up 11% after broker's upgrade. [Feb 07] KovioPrinting Chips on the Cheap. Silicon Valley startup Kovio (Sunnyvale, CA; no SBIR) says it has refined a process that uses regular printing-press technology to create low-power chips [which] could represent a step forward in developing cheap, mass-produced radio-frequency identification (RFID) tags. ... will use a process that could drop the price of the tiny radio chips, which help companies keep track of products they ship, from 15 cents per tag to 5 cents by late 2008. ... uses long-established graphics printing techniques, but instead of color inks it sprays what it calls "silicon ink"--consisting of silicon electronics and thin-film transistors--onto stainless steel foil that is paired with a tiny radio antenna. Silicon ink devices can be made using cheaper equipment than that used to make regular chips. [Cliff Edwards , Business Week, Dec 10] Kovio, a Sunnyvale developer of semiconductor products using thin-film technologies, or "printed electronics," has raised $19.5 million in the first part of a fourth (series D) round; Sunnyvale-based [Matt Marshall, Venture Beat, Sep 5] Kronos Advanced Technologies(Belmont, MA)Kronos Advanced Technologies (Belmont, MA; no SBIR), a maker of air movement and purification technologies, has “curtailed operations and reduced its workforce to the fullest extent,” in response to the receipt of a notice of default by investor AirWorks Funding LLLP. .... The company was initially founded in 2000 and funded by the U.S. military to develop electrostatic air movers. Eventually the company moved into the consumer air purification business. [Mass High Tech, Oct 10] KVH (Middletown, RI)KVH down 13% [Oct 10, 08] KVH down 11% [Oct 3, 08] KVH Industries reports it has landed $1.3 million to deliver military navigation systems from an unnamed southeast Asian customer. [Mass High Tech, Sep 17, 08] KVH Industries down 15% [Jul 22, 08] KVH Industries up 11% [Jul 21, 08] KVH Industries, a maker of in-motion satellite TV and communications systems, has landed a new contract with an undisclosed in-flight entertainment provider valued at $20M [Mass High Tech, Feb 22, 08] KVH Industries received two orders from a US defense contractor for the purchase of components and upgrades for KVH's TACNAV vehicle navigation systems for use on U.S. military combat vehicles. KVH up 10% [Jan 16, 08] KVH Industries got an up-to-$6M new contract from a European defense contractor for the purchase of KVH's TACNAV® II fiber optic gyro (FOG)-based vehicle navigation systems and displays for use on new infantry fighting vehicles. [Business Wire, Apr 17, 07] KVH down 11% on news of lower profit. (Oct 19,06) even though revenue was up 15% and that Business Week named two of KVH's live mobile media solutions among its eight "Coolest Car Gadgets for 2007." [Providence Business News, Oct 20, 06] KVH made #20 on the NASDAQ short interest ratio list at 29 days to cover. [Oct05] Doubters. KVH ranked #11 on the NASDAQ short interest ratio at 43 days. SatCon ranked # 5 on percentage increase in sextupling the short interest. {sep05] “Sandstorm” and “H1ghlander” by Carnegie Mellon will have fiber optic gyros (FOGs) by KVH for the $2M winner-take-all DARPA robot vehicle race across the Mojave. Out of 118 applicants, 20 finalists will race. Last year nobody even got far from the start point. KVH Industries leapt into 37th place on NASDAQ short-interest ratios with 3.3M shares, 22 days worth of average daily trading volume. ViaSat was on the list of largest (58%) percent increase, as was Emcore. [spring 05] Now Cellphones, ThenTV. KVH got. a U.S. patent for a key component in the hybrid phased-array antenna used in KVH’s in-motion TracVision A5 satellite TV system for automobiles. ... A report by industry analyst Frost & Sullivan projects that by 2011 more than 36 million automobiles in the United States will be equipped with video systems and of these, more than 3 million will receive mobile satellite TV programming. [Mass High-Tech, Mar 8] KVH Industries reports a $2.8M order from an unnamed foreign defense client through an equally unnamed US defense contractor for its TacNav vehicle navigation systems and the smarts to install and operate them. [Mass High Tech, Dec 28, 04] .KVH took home $48M from a public offering at $18.75 per share after all the hands in the pockets got their piece of the action. Prep Ended Too Soon. KVH Industries took a two-day hit of 17% as it reported 20% higher revenues leading to a big loss. Said the CEO, While both the fourth quarter and full-year revenues were record highs, they were lower than we had expected primarily as a result of the absence of an anticipated large order from an existing U.S. military customer. Seems the 2002 profits, although not all that big, came from the military buying spree before the Iraq invasion. Live by the sword, ... KVH Industries navigation system to be standard for German army vehicles. KVH Industries Inc., of Middletown, R.I., announced today that the German Army has named the KVH M100 Ground Mobility Enhanced Navigation System (GMENS) a standard product in the German Army procurement system. [Mass High Tech, Nov7] After quadrupling from its low of last autumn, KVH stock took a breather yesterday with a 14% drop (that would have been 50% of that low). Gene Marcial's Business Week column (Jun 16) touted KVH Industries as a big winner in the Iraq war sales derby to Defense and predicts KVH will introduce a satellite dish for cars. Unlike most SBIR firms' stock, KVH has tripled since last fall. TV in every car? So the driver can peek while talking on a cell phone? What better argument for smart highways? KVH Rides Defense Wave. KVH won a $3.6M Army contract as part of a multi-year $10M deal its TACNAV vehicle navigation system. The company claims our revenues grew 9% over 2000 to $32.7 million, driven by the fifth consecutive year of growth in our satellite communications business.def Navigation is 20% of KVH's business. KVH was founded in 1982 and went public in 1996, has a market cap of $67.1M, and has lost about $4M over five years on steadily rising sales. Its nine 9 Phase 2 SBIR were mostly Navy for engineering of well-controlled development projects.
Kylin Therapeutics (West Lafayette, IN)Kylin Therapeutics (West Lafayette, IN; no SBIR) , a six-employee developer of cancer and disease-fighting biotechnology, has doubled its work force and outside investment in its operations at Purdue's Research Park in West Lafayette, the Indiana Economic Development Corp. said. The company used a $250,000 grant to help commercialize Purdue technology that allows doctors to target drug delivery for treatment of diseases that include AIDS and cancer. [Indianapolis Star, Feb 22] Kyma Technologies (Raleigh, NC)Thirteen NC companies will split $1 M from a new state fund intended to help businesses create environmentally friendly technologies. In the Triangle area: Ecocurrent of Raleigh received $100,000 to convert hog manure into electric power; Kyma Technologies of Raleigh received $60,000 to work with N.C. State University on a more efficient, cheaper electric switch.; 3F LLC of Raleigh received $100,000 to develop a natural fiber-reinforced concrete formula.; Piedmont Biofuels of Pittsboro received $75,000 to work on a reactor that more efficiently creates biodiesel.; Nextreme Thermal Solutions of Durham received $57,319 to manufacture a generator that converts waste heat into electricity.; Rain Water Solutions of Raleigh received $18,000 to develop a new rain barrel manufacturing process. [Raleigh News & Observer, Jul 1] Kyma Technologies (Raleigh, NC) $2.6M VC money in a first round and says it plans a second round next year to begin production of semiconductor substrates of GaN and AlN. Kyma was co-founded by Jerry Cuomo, a research professor in NCSU, and Mark Williams, a former graduate student of Cuomo. As for Cuomo, he worked at IBM for 30 years before joining NCSU and is the holder of 115 patents. With technology licensed from NCSU, the firm started in 1998 with about $550K from angel investors and more than $2M in federal grants. Spell that SBIR [facts from Lee Weisbecker, Raleigh Business Journal, Sep 24] Kyron Clinical Imaging (Wauwatosa WI)Kyron Clinical Imaging (Wauwatosa WI; one SBIR) got a $200K NIH SBIR. Kyron has a software application that allows doctors to look at different kinds of magnetic resonance images to better diagnose, treat and manage brain tumors and other neurological disorders. ... founded in 2004 by three Medical College of Wisconsin radiology professors. [Milwaukee Journal-Sentinel, Oct 17] It got FDA clearance in December for its BrainViewRx Viewer and a 2006 $1.5M investment from a local hospital. [company website]
LAAMScience (RTP, NC)About a decade ago, Steve Michielsen was like a lot of inventors. He had a great idea, no money and only a vague plan for how to unleash his genius on the world. This week, a specially treated fabric is rolling off machines that will be used to make face masks that Michielsen thinks will kill virtually any human or animal virus on contact. ... lofty goals for LAAMScience (RTP, NC; no SBIR) ... He is eager to send the research and test runs to the FDA this spring and hopes to have approval as soon as this fall -- just in time for the flu season. [Tim Simmons, Raleigh News & Observer, Apr 19] LabNowLabNow (Austin TX) (Austin TX; no SBIR) biotech company that has developed a portable device that will help treat AIDS patients in Africa and Asia, has secured an investment of $20M. ... on a shoestring budget only seven months ago after spending its initial $14M investment, now has a "chance to do everything we had hoped with this money," CEO Rick Hawkins said. [Lily Rockwell, Austin American-Statesman, Nov 12]
Laborie Medical Technologies (Williston, VT)Laborie Medical Technologies (Williston, VT, no SBIR, founded 1967) reports it has garnered [FDA] market clearance for its diagnostic system for urological disorders ... The -based firm's "Tetra" near infrared spectroscopy system uses non-invasive lasers to analyze bladder obstruction and other urinary functions, company officials say. Studies are under way to find further uses of the technology. Laborie develops and markets diagnostics for urology, computerized and physical modeling tools for the bladder, as well as educational products. The privately held company employs more than 150 workers, [Mass High Tech, Mar 10, 08]
LandecLandec up 11% [Oct 10, 08] Landec down 11% [Oct 9, 08] Landec down 16% [Jan 4, 08] Landec jumped 11% after announcing two deals with Monsanto that could be worth $70 million. [Dec 4, 06] Landec makes polymers used in food and agricultural products. It had about $1.5M SBIR 1987-2003.
LaserMotive (Kent, WA)LaserMotive (Kent, WA; no SBIR) is going after a $2 million prize in the power-beaming challenge of the NASA-sponsored Space Elevator Games. .... Six partners and 10 employees .... "We don't have a lot of competition," he said, then perhaps obviously adding, "there are not a lot of companies that have this type of background and experience." [Charles Berman, Seattle Times, Jul 28]
Lawrie Technology (Girard, PA)Lawrie Technology (Girard, PA), has embedded fibers within an elastomeric matrix, creating a new material whose properties differ wildly from "normal" isotropic materials. Founder/boss Duncan Lawrie says his process runs from $40 to $80 per pound while competing processes cost as much as $400 per pound. The curse of all new materials is their cost. Two Phase 2 SBIRs in the mid-1990s. story from MDA Update http://www.mdatechnology.net/update_article.asp?id=5102 Lawrie has no apparent website, not a healthy sign of commercial success.
LeCroy (Chestnut Ridge, NY)Lecroy up 11% [Oct 30, 08] Lecroy down 13% [Oct 15, 08] Lecroy up 11% [Mar 18, 08] LeCroy (Chestnut Ridge, NY; one Phase 2 SBIR a decade ago) up 19% on good profit news. [Oct 17, 07]
LED Lighting Fixtures [Morrisville, NC]Cree is increasing its bet on the burgeoning market for energy-efficient lights [saying] it will buy LED Lighting Fixtures (Morrisville NC) for up to $100M+. LED Lighting is run by F. Neal Hunter, who 20 years ago co-founded Cree. ... Buying LED Lighting will add $1 M to Cree's revenue for the current quarter and $30M in revenue during the fiscal year that starts in June. Cree reported $394M in revenue in its last fiscal year. [Alan Wolf and David Ranii, Raleigh News&Observer, Feb 9, 08] LED Lighting Fixtures (Morrisville NC) claims a technology breakthrough that will dramatically lower the cost of lighting homes and offices with LEDs ... uses 5.8 watts of power, compared with 60 watts for an equally bright incandescent bulb [Frank Norton, Raleigh News& Observer, Nov 28] LED Lighting Fixtures (Morrisville NC; no SBIR) raised $16.5M in private equity to expand its line of power-efficient lighting products and accelerate research and development. LLF is among the first companies in the world to design and manufacture general-purpose fixtures that hold light-emitting diodes, or LEDs. ...The cash infusion is the company's second since being co-founded in 2005 by current chairman Neil Hunter, one of the founders of Cree. LLF, which raised $6.5 million last year, uses Cree LEDs in some of its products. [Frank Norton, Raleigh News&Observer, Nov 3, 07] LED Lighting Fixtures [Morrisville, NC] signed the first customer for its energy-efficient light fixtures. The startup, led by Cree co-founder Neal Hunter, will supply recessed light fixtures to Loyd Builders, a custom home builder. [Raleigh News and Observer, Mar 21] Lexicon GeneticsLexicon Genetics up 10%. [Apr 13, 07] Lexicon Genetics up 11% [Feb 22, 07] after a broker's upgrade.
Lexicon PharmaceuticalsTwo financing infusions [$200-500M] announced this week will help Lexicon Pharmaceuticals complete its shift from a genetic research company to a biopharmaceutical firm on its own terms, analysts said. [Purva Patel, Houston Chronicle, Jun 19]
LifeCell (Branchburg,NJ)LifeCell (Branchburg, NJ; $4M SBIR) up 17% after agreeing to be bought by Kinetic Concepts for $1.7 B cash. [company press release]
Ligand Pharmaceuticals (San Diego, CA)Ligand Pharmaceuticals (one small SBIR 1994) is another early-stage drug company with a new drug application pending before the FDA. Ligand technology was used in the development of Fablyn, which can treat osteoporosis, and was developed in collaboration with Pfizer. An FDA panel gave the chances for approval a boost in early September 2008, when it said the drug might prove more beneficial to patients given the risks. Ligand had only $9.7 million in revenues the first six months of 2008. The company is not solely dependent on Fablyn, as it has collaborations with other large drug companies including Wyeth and GlaxoSmithKline. A decision is expected sometime before the end of 2008 and if approved Ligand will receive royalty payments and cash. [Eric Fox, Investopedia, Oct 16] Ligand Pharmaceuticals (San Diego, CA; one SBIR) fell 36% after the FDA said Promacta, a treatment Ligand is developing for patients affected by chronic thrombocytopenic purpura, or ITP, in partnership with GlaxoSmithKline, was unable to significantly reduce bleeding when compared with a placebo. [Wall St Journal, May 29] LightpointeLightPointe,which started life on an MDA SBIR in 1999, got another $17M VC money. That was after one Phase 2 SBIR and $45M earlier rounds. The optical telecom bubble did not collapse for everyone; the company claims 2,000-plus installations in more than 60 countries. That's the kind of ROI that SBIR should seek in all the agencies. Thanks to MDA's tech commercialization page for the info. Those WO guys do a great job of tracking the good things that happen outside MDA from MDA's tech spending. They don't spend their energy in "success stories" with minor league, economically empty success. Linares Management Associates (Medfield, MA)The face staring through a porthole on page 100 is Bob Linares, one of many CVD diamond dreamers in the late 80s and early 90s. Josh Davis Wired (Sep 2003) tells the story of two competing companies developing mass-produced diamonds. The DOD database shows eight Phase 1 and two Phase 2 SBIRs in the 90s - all from SDIO/BMDO (the original names of MDA) for Linares Management. The Wired story tells how Linares made a bundle selling a gallium arsenide company and building a "secret diamond research lab" to probe for the "sweet spot" of making single crystal diamond. In that quest he was one of many that SDIO/BMDO funded in what turned out, at least so far, to be a too elegant and expensive process. Crystallume and SI Diamond were two companies that went public and then broke with diamond. Linares present company, Apollo Diamond, run by his son, is competing with Gemesis. Diamond would be in great demand as a heat conductor as electronic chips shrink into pure heaters. Cheap diamond would, however, ruin the diamond jewelry industry that for centuries relied on scarcity. If the commerce works out, BMDO can claim another nurturing of a really innovative idea that did what SBIR is supposed to do - get real innovators going. Single Crystal Diamond. Photonics Spectra (Mar 98) reports a proprietary CVD process for single crystal diamond by Linares Management Associates (Medfield, MA). Nice. Who will make money from it? Two companies had a lot of SBIR, went public and then bust trying - Crystallume and SI Diamond. Linares has had SBIR from BMDO for both diamond and GaN. If you want to try, government is a sucker for nice science with the dreamy promise of a huge future market. Emphasize your science with lots of references to the literature, impressive credentials of investigators, lots of chemistry-speak, and an estimate of at least $2B market (no, you don't have to prove it).
Liquidia Technologies (Durham, NC)Optimism. Neal Fowler quit his job as head of a multibillion-dollar Johnson & Johnson subsidiary based on the big promise of a young Durham nanotechnology company. For the past 20 years, Fowler worked for large pharmaceutical companies ... he took a pay cut to join Liquidia Technologies (no SBIR), which employs 35 ... The object of everybody's desire is a clear, nonstick material, called Fluorocur. Developed by UNC-CH chemistry professors Joe DeSimone and Ed Samulski and three of their students, Fluorocur is liquid at room temperature and hardens when exposed to ultraviolet light. What makes Liquidia's technology attractive is its scale. Fluorocur creeps into crevices so small they can only be seen with the most powerful microscopes. [Sabine Vollmer, Raleigh News&Observer, Mar 14] Since it won't be going back and back to SBIR for endless externally funded R&D, it must find a profitable app, one is enough when capital and patience are limited, on which to base a growing enterprise.
LiquidPiston (West Hartford, CT)LiquidPiston (Bloomfield, CT; a little SBIR) which develops specialized internal combustion engines, received $700,000 in second-round financing. [Hartford Courant, Oct 18,08] LiquidPiston (West Hartford, CT; one SBIR), a recent runner-up in MIT's $100K business plan competition, has secured its first round of venture funding, adding $1.25M.
Lithium Technology (Plymouth Meeting, PA)Lithium-ion battery maker Lithium Technology (Plymouth Meeting, PA; three SBIRs) is discontinuing flat cell production at the company's headquarters in . "This step is necessary to allow the company to focus all its efforts on cylindrical cells that are its core competency," Lithium said. "The company will expand its present manufacturing capability in Germany." [Philadelphia Business Journal, Jun 27, 08] LiveData (Cambridge, MA)LiveData (Cambridge, MA; $800K SBIR) made a research and development partnership with Idaho National Laboratory . to test the security of LiveData's ICCP Protocol Server for the electric power industry. [Mass High Tech, Apr 4]
LS9 (San Carlos, CA)Biofuel Valley. More than fifteen hundred miles away from the Midwest's corn belt, several California-based, venture-backed startups founded by pioneers in the fledging field of synthetic biology are creating new microörganisms designed to make biofuels other than ethanol. .... planning to produce novel hydrocarbons ... At LS9 in San Carlos, CA, researchers are turning E. coli into a hydrocarbon producer by reëngineering its fatty-acid metabolism (see "Better Biofuels," Forward, July/August 2007) [David Rotman, MIT Tech Review, Dec 20] Ethanol is an expensive fuel that requires special handling; only government subsidy keeps it alive. While much of the focus is on ethanol, LS9 (San Carlos, CA; no SBIR) is using relatively new "synthetic biology" techniques to engineer bacteria that can make - secrete - hydrocarbons for gasoline, diesel, and jet fuel. ... Overall, LS9 says, its process would consume 65% less energy than ethanol production. The company hopes to bring hydrocarbon biofuels to market in four or five years. [Neil Savage, MIT Tech Review, J/A07] Lumencor (Beaverton, OR)Lumencor (Beaverton, OR) Formed December 2006 . The product: Specialized high-performance lights for biotechnology, called light engines. They are used for basic and applied research in life sciences, including drug research, blood analysis and DNA sequencing. Prototypes are being tested; the plan is to have units for sale in six months. The founders: Steven Jaffe, 46, president and chief executive, is a physicist who has developed optical displays. He founded Quantum Vision (one Phase 2 SBIR), a California startup that folded in 2006. ... Arlie Conner, 53, vice president for engineering, is an inventor, optical engineer and mathematician who has designed projectors and LED lighting systems and worked at InFocus, a Wilsonville maker of digital projectors. He started Lightware (Beaverton, OR; no SBIR) which was purchased by 3M. [The Oregonian, Mar 8,08]
LumeraLumera which is merging with GigOptix of California, reported that it trimmed its third-quarter loss to $1.5 million, [Puget Sound Business Journal, Oct 21, 08] Light Over Life. Lumera, (Bothell, WA; one SBIR) optic-communications company, scrapped its life-science-tools subsidiary and announced a merger agreement with GigOptix. Lumera's board determined that it does not have enough cash to continue running Plexera Bioscience and is focusing instead on its optics business. [Ben Romano, Seattle Times, Mar 28] Lumera down 14% [Feb 21, 08] Lumera up 10% [Feb 20, 08] Lumera up 38% [Jan 29, 08] Lumera up 12% [Oct 15, 07] after announcing the release of its 40 Gbps electro-optic polymer modulator for optical transmission systems. [press release] Lumera up 29%. [Aug 8, 07] Lumera up 13% [May 18, 07] Lumera up 24% [Mar 12, 07] on a Lockheed purchase order for polymer materials with the possibility of a licensing deal. Lumera lost 20% after reporting a bigger loss. [Mar 9, 07] Lumera still rolling, up another 18% [Nov 6, 06] Lumera up 10% on no more news; that's up about 25% for the week. [Nov 3, 06] Lumera, which once had a Phase 1 SBIR, rocketed 38% after it said that Harvard Medical School researchers are building discovery and diagnostics methods with Lumera's ProteomicProcessor biosensor. [Wall Street Journal, Nov 1] Luminary Micro (Austin TX)Startup Luminary Micro (Austin, TX; no SBIR) is beginning to hit its stride, expecting this year to sell millions of microcontrollers, which are tiny low-cost brains that run everything from industrial equipment to household appliances. The company has raised $44 million in venture backing, expects to become profitable next year and, if all goes well, will shoot for a public stock offering in 2010. Not bad for a company that was conceived less than four years ago over fish, chips and beers at Mother Egan's Irish Pub. .... 62 employees, many of them highly skilled veteran chip designers, and has launched 132 new chips. Some indeed sell for a buck apiece, while others go for several dollars more. [Austin American-Statesman, Jul 28, 08] Luminary Micro a three-year-old Austin chip startup (no SBIR) , raised another $25 M in venture capital, the company's third venture round since it was started. [Austin American-Statesman, Aug 23] Luminex (Austin TX)Luminex (Austin TX; no SBIR, 300 employees), the worldwide leader in multiplexed solutions, today announced that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its xTAG(TM) Respiratory Viral Panel (RVP). xTAG RVP is the first FDA-cleared assay to simultaneously detect and identify 12 viruses and viral subtypes that together are responsible for more than 85 percent of respiratory viral infections. [company press release]
Luminus Devices (Billerica, MA)LED maker Luminus Devices (Billerica, MA; no SBIR) closed $72M in new funding, bringing the company's total raised to nearly $140M since its photonic lattice technology was spun out of MIT in 2002 [Mass High Tech, Mar 17]
Lumitex (Strongsville,OH)Faster than SBIR. the Air Force Research Lab [was] approached in 2004 and asked to develop such a system. Working with Lumitex (Strongsville,OH; no SBIR) the effort was part of a rapid-reaction program where researchers were given up to $100,000 and one year to come up with a product. ... The group produced 108 prototypes in six months [James Hannah, AP, Feb 20 reprint by Albany Times-Union] The product is a LED - fiber-optic strip that emits in the IR to mark friendly forces on the ground.
Luna InnovationsLuna Innovations down 11% [Oct 6, 08] Luna Innovations down 17% [Oct 3, 08] Luna Innovations down 18% [Sep 29, 08] Luna Innovations down 11% [Sep 8, 08] Luna Innovations up 10% [Jul 18, 08] Luna Innovations rebounded 20% [Jun 30, 08] Luna Innovations down 21% [Jun 27, 08] Luna Innovations down 18% [Jun 26, 08] Luna Innovations up 16% [Mar 27, 08] Luna Innovations up 16% [Mar 25, 08] Luna Innovations down 17% [Mar 6, 08] Luna Innovations up 11% [Feb 13, 08] Luna Innovations down 14% [Jan 9, 08] Luna Innovations up 10% [Dec 28, 07] Luna Innovations up 13% [Nov 14, 07] on near doubling of profit. Luna Innovations down 15% after reporting another loss. [Nov 9, 07] Luna Innovations up 11% [Oct 30, 07] Luna Innovations up 14% [Oct 24, 07] Luna Innovations up 24% on news of a deal with Intuitive Surgical (the global technology leader in robotic-assisted minimally invasive surgery) wherein Luna will develop and supply fiber optic-based shape sensing and position tracking system. [Jun 14, 07] Luna Innovations gave back 14% which is about 20 of the 68 percentage point gain the day before. Luna Innovations rocketed 68% on news that its company's blood circuit monitor used in cardiac surgery won clearance from U.S. health regulators. [Reuters, May 21] But still below its post-IPO trading price. Luna Innovations took a 27% tumble and an inverstment downgrade after forecasting lower revenue for next quarter. [Sep 06] Luna Innovations went public at $6 a share, half its week-ago target of $12. There it closed its short first trading day. Luna's technologies got a big helping hand from the government with $25M of SBIR in the last five years, plus another $10M before that as Fiber & Sensor Technologies. It claims to be a researcher and developer (and commercializer) of molecular technology and sensing solutions. Its home is Roanoke VA, the same home as Pixel Optics. Parts of the company had already been bought by bigger companies: Luna Energy was acquired in December 2004 by Baker Hughes, a leader in oil field services, and Luna i-Monitoring by IHS Energy in October 2003. [Jun 3,06] Even if $35M SBIR seems a lot of kerosene to start a fire, SBIR can claim at least some kind of ROI for a company attracting public capital. And something is better than the nothing that almost all other SBIR spending shows as a return. Luna TechnologiesLuna Technologies' Optical Backscatter Reflectometer (OBR(TM)) with distributed sensing has received a 2007 R&D 100 Award from the editors of R&D Magazine as one of the 100 most technologically significant new products introduced into the marketplace in the last year. [Business Wire, Jul 12] But will it be profitable? Who knows. The market seems skeptical since the stock is a third below its starting price a year ago. But that is better than being down the half it was last month. Luxtera (Carlsbad,CA)Luxtera, a startup based in Carlsbad, CA, that spun out of the California Institute of Technology, has announced the first optical cable based on the same silicon technology used to make microprocessors. The company says that the cable, called Blazar, can send 40 gigabits of data per second through its fiber but will cost as little as today's 20-gigabit-per-second optical cables. [Kate Green, MIT Tech Review, Aug 16] Intel isn't alone in the silicon-laser race. Luxtera, a start-up (Carlsbad, CA; two Phase 1 SBIRs), is planning to enter the market in the fourth quarter with chips that include the equivalent of four lasers, each of them able to send 10 gigabits of data a second. Alex Dickinson, Luxtera's chief executive, said Intel's development is interesting from a scientific point of view. But he argues that Luxtera's approach can bring practical benefits sooner, for applications such as connecting together servers to create a supercomputer. From a practical point of view, Mr. Dickinson said he doesn't think Intel's announcement "moves the ball forward." [Don Clark, Wall Street Journal, Jul 25, 07] Lynntech (College Station, TX)Multi-SBIR winner Lynntech's full page ad in Wired for its Ozone Generator says we need more ozone. True, for the upper atmosphere. On earth, though, ozone is a hazard, especially in smog and inside jet airplanes. Still, advertising never went wrong insulting the intelligence of the consumer. Many times SBIR proposers insult government SBIR reviewers in analyzing their technology's economic future. It does not follow that since you know the technical details of your science that you also know, or can ignore, the economics of its use.
Mako SurgicalDr. Frederic H. Moll, 56, is a soft-spoken man who can look uncomfortable on stage. Yet his role in founding Intuitive Surgical ($2.5M SBIR), the company that now dominates the field, and his current involvement with three other robotics companies, has kept him in the sights of investors, health care providers and fellow entrepreneurs. ... He took the idea to his employer, Guidant, a medical device company. Guidant decided that robotic surgery was too futuristic and too risky, so Dr. Moll rounded up backers, resigned, and in 1995, founded Intuitive Surgical. [which] earned $144M last year on sales of $600M .... He’s now best known as chief executive of Hansen Medical (no SBIR), a publicly traded robotics company focused on minimally invasive cardiac care. But he’s also an investor in and a board member of Mako Surgical (no SBIR), an orthopedics robotics company that recently went public, and he is a co-founder and chairman of Restoration Robotics (no SBIR), a start-up company focused on cosmetic surgery. [Barnaby Feder, New York Times, May 4] Macrochem (Woburh, MA)MacroChem (Wellesley Hills MA; three SBIRs) reports it has closed on a private placement of $3.5M targeted at moving the company's EcoNail nail fungus treatment through its Phase 2 clinical program and developing its newly acquired product, pexiganan. [Mass High Tech, Oct 10] MacroChem (Wellesley Hills, MA; three SBIRs) has purchased the license to a treatment for diabetic foot infection. MacroChem executives report the company has exercised an option to acquire exclusive worldwide license rights for pexiganan, a novel, small peptide anti-infective, from New York City-based Genaera Corp (three SBIRs). [Mass High Tech, Oct 4, 07] Micro-HHS-SBIR user Macrochem (Woburn, MA) is closing the door and auctioning off the assets. [Mass High Tech, Sep 2]
Macrogenics (Rockville, MD)MacroGenics (Rockville, MD; $2.7M SBIR) plans to announce today that it has raised $25 million in financing [Washington Post, Sep 25, 08] Charities Investing. Fed up with breakthroughs that fill journals rather than medicine chests, private foundations and charities that have traditionally funded academic scientists have started doing the once-unthinkable: writing checks for millions of dollars to for-profit companies. ... Earlier this month, JDRF announced that it was giving $2 million to MacroGenics Inc., a Rockville, Md., biotech, for a phase-2/3 clinical trial of an antibody that might slow progression of type-1 diabetes. [Sharon Begley, Wall Street Journal, Jan 26] MacroGenics has had $2+M in SBIR. JDRF has also funded Sangamo BioSciences (Richmond, CA) $3M, Transition Therapeutics (Toronto) , and TolerRx (Cambridge, MA). Sangamo has also had $2+M SBIR.
MagneMotion (Sudbury, MA)MagneMotion (Sudbury, MA; one Phase 2 SBIR) landed $6.3M from the U.S. Federal Transit Administration to develop a magnetic levitation (maglev) transportation system for use in cities, according to officials. ... received a patent for its maglev technology in July 2006. The following September, it closed $3M from Massachusetts Capital Resource Co. [Mass High Tech, Jan 15] Magnetek (Menomonee Falls, WI)Magnetek (Menomonee Falls, WI; no SBIR) got orders for fuel cell power inverters worth $1.3M from United Technologies. The 380-employee firm with a market cap of $144M makes and sells digital power control systems. [Milwaukee Journal-Sentinel, Sep 27, 07] Unfortunately, for the last three years it has lost a total of about $80M. Magnolia Optical TechnologiesMagnolia Optical Technologies (Woburn, MA; $3M SBIR) announced that it is collaborating with Kopin in developing indium nitride-based, or InN-based, quantum dot solar cells for NASA and defense applications. [Boston Globe, Jul 11, 08] Magnolia Optical Technologies (Woburn, MA; $3M SBIR) reports it is working with Kopin on a solar cell development [STTR] contract Kopin won from NASA. [Mass High Tech, May 9, 08] Mainstream Engineering (Rockledge, FL)A QwikBoost(TM), claims the AF, of an allegedly SBIR product from Mainstream Engineering (Rockledge, FL) for refrigeration systems. The DOD database says Mainstream has had 35 Phase 1 SBIRs and 9 Phase 2s. CEO Bob Scaringe two years ago in an SBIR conference boasted 150 SBIRs. It has 30 employees, up from 6 in 1987. If the ratio of four Phase 1s for every Phase 2 had held over those years for the other SBIR agencies, Mainstream would have collected about $33M which is about enough to explain all the employee compensation for 13 years. MapInfo (Troy, NY)Prosperity can be done. Our vision is to enable every business and government - worldwide - to harness the power of location. MapInfo is the leading provider of location intelligence solutions.[company website] In the face of higher slaes and lower profits for the latest quarter, the company is hopeful about the future with the hiring of former Microsoft Corp. executive John O'Hara as its new executive vice president of international operations [Albany Times-Union, Nov 3] Headquarters: One Global View, Troy NY. 900 employees, no SBIRs since 1986 founding. Acquired ten businesses in the US, UK, and Australia. Another measure of the coming of the modern age of the Capital District after being stuck by the Great Depression and the collapse of its 19th century industries by the end of World War II. Its 19th century starter was being the eastern terminus of the Erie Canal. The technological intellectual stimulus came from the growth and re-vitalization of Rensselaer Polytechnic Institute after I graduated. It can be done. Marcadia Biotech (Carmel IN)Marcadia Biotech (Carmel IN) got a $15M infusion is developing an innovative and novel solution for hypoglycemia: glucagon that is stable in solution, enabling delivery via an injector pen. Founded in 2005 by Richard DiMarchi chair and professor of IU Bloomington department of chemistry, and former executives from Eli Lilly focuses its research on the discovery and development of synthetic peptide-based drugs with a license from IU. Marcadia was a recent recipient of a $2M 21st Century Research and Technology Award from the Indiana Economic Development Corporation. [facts from company website] No known SBIR. Martek BiosciencesMartek Bioscience up 21% [Oct 13, 08] Martek Biosciences (Columbia, MD; $7M SBIR 1985-2001) has touted the progress of its vegetarian form of a good-for-the-brain food additive, announcing scores of deals with food companies over the past few years. But some industry watchers say the product's growth does not seem to be keeping pace with the steady flow of announcements. [Kejai Vijas, Dow Jones Newswires, Jul 27] After trading in a downtrend for three years, the stock broke out in mid-2007 and has been moving higher ever since. What the company does also differentiates it from other biotech companies. It develops nutritional oils from microalgae and fungi that are then used in everything from vitamins to baby formula. In June, the company reported an 89% increase in second-quarter profit, but also warned the third quarter will see a slowdown. [Matthew McCall, Investopedia, Jul 11, 08] Current market cap $1.2B, fifteen years public. If the government had taken a proportional equity share for its SBIR capital, SBIR would have something quantitative to offer as a rationale for funding, at least the Martek kind of company. But if it did such accounting for Martek, it would have to apply the method to all the other SBIR investments which would almost certainly show what a capital losing proposition SBIR is. Which, in turn, is why the almost all government disdains such accounting. Only MDA did it, and only for about five years in the 1990s. Martek Biosciences up 14% [Jan 7, 08] Martek Biosciences up 20% agreed to supply infant-formula supplements to South Korea's IlDong Pharmaceutical Co. [AP, Dec 13, 07] Mascoma (Cambridge MA)biofuels developer Mascoma (Cambridge MA; no SBIR) says it has acquired -based Celsys BioFuels (Indianapolis IN; no SBIR) a maker of cellulosic ethanol production technology that was spun out of Purdue University last year. ... Mascoma was founded in 2005 by [two] Dartmouth professors ... [it] emerged from stealth mode in 2006 and has since raised two rounds of private financing totaling $34M. [Mass High Tech, Nov 7, 07]
MasheryTen Startups to Watch: Instant Voicing by Pinger Founded 2005, Funding $11 million; Sharing, Privately by Pownce founded 2007 funding undisclosed; Cell-phone Streaming by Qik founded 2006 funding $4M; Traffic Master by Dash Navigation founded 2003 $71M; Crisis Sourcing by Ushahidi founded 2008 funding undisclosed; Partial Recall by QTech founded 2004 $5M; Are You ... Influential? by 33Across founded 2007, $1M; Semantic Ads by Peer 39, 2006, $11M; Mashups Made Easy by Mashery, 2006, $5M; Video Packet-Switching by Anagran, 2004, $40M. [MIT Tech Review, J/A08] Mason Box (North Attleboro,MA)Mason Box (North Attleboro, MA) is among several local companies that have been selected to participate in the "Next Generation Manufacturing Initiative, or NGMI, an effort to foster best-in-class manufacturing processes. Other participants in the initiative include Hoppe Tool (Chicopee, MA), Matouk Textiles (Fall River, MA), Munksjo Paper (Fitchburg, MA), and Spectro Coating (Leominster, MA). The initiative is a partnership of the Associated Industries of Massachusetts, a nonprofit group representing Bay State employers; MassDevelopment, the commonwealth's finance and development authority; and the Massachusetts Manufacturing Extension Partnership, a group dedicated to helping local manufacturers remain competitive in a global marketplace. [Chris Reidy, Boston Globe, Jun 19] No SBIR.
Material Technologies (LA, CAMaterial Technologies (Los Angeles, CA; no SBIR) whose stock trades around six cents has a full page add in USA Today (Mar 21) touting $8.3M in already completed government contracts and a new $286B law [the regular roads pork bill] allocating funds to states for [some unspecified share] nondestructive inspection of bridges. The company message: To own shares, call your broker, or DOWNLOAD a FREE Investor Packet. Note: such full page ads are not cheap for a company with three full-time employees, one of whom is Chairman, Chief Exec. Officer, Pres, Chief Financial Officer and Principal Accounting Officer [Yahoo Finance]. Note that by the same logic, if you have DOD SBIRs you can tout the $500B defense budget as a rich source of business for you. Just don't expect the DOD SBIR reviewers to be impressed by such a claim in your Commercialization section. Hear the Bridge Talk. Companies such as Material Technologies (LA, CA; no SBIR) and Physical Acoustics (Princeton NJ; $5M SBIR) are commercializing wireless sensors an inspector can slap on a bridge to diagnose cracks and stresses long before they become dangerous. ... For fees starting at about $35,000, [Physical Acoustics] will install a sensor to listen to creaks from fissures or the popping of steel-cable fibers, sounds that could be heard months before any flaws are visible to the man with the binoculars. [Business Week, Aug 20] Material Sciences CorpA few miles west of Chicago stands a brand new steel-processing plant. It cost $30M and is squeaky clean. There are almost no people. The only real sound comes from Robert Mataya, [of Material Sciences Corp] who is keen to show visitors that the wallet-sized piece of steel in his hand does not "ding" when someone flicks it. This is "quiet steel" [sold] to Singapore to make housings for computer disk-drives. America's once-rusty manufacturing heartland has restructured, retooled, and reinvented itself as the country's economic powerhouse. The Economist Apr 19, 1997. The biggest problem in the mid-West? Finding enough new workers to maintain the growth rate. MathStar (Minnetonka, MN)MathStar (Minnetonka, MN) will try an IPO to raise more development money for its new class of semiconductor integrated circuits called "field programmable object arrays" (FPOAs). MathStar is betting that its FPOA chips will meet the holy trinity of chip design: smaller, faster, and easier to build. But, the company noted in its filing, there is no commercial market for the company's technology yet. [Patrick Kennedy, Minneapolis Star Tribune, Aug 4] No apparent SBIRs.
Matouk Textiles (Fall River, MA)Mason Box (North Attleboro, MA) is among several local companies that have been selected to participate in the "Next Generation Manufacturing Initiative, or NGMI, an effort to foster best-in-class manufacturing processes. Other participants in the initiative include Hoppe Tool (Chicopee, MA), Matouk Textiles (Fall River, MA), Munksjo Paper (Fitchburg, MA), and Spectro Coating (Leominster, MA). The initiative is a partnership of the Associated Industries of Massachusetts, a nonprofit group representing Bay State employers; MassDevelopment, the commonwealth's finance and development authority; and the Massachusetts Manufacturing Extension Partnership, a group dedicated to helping local manufacturers remain competitive in a global marketplace. [Chris Reidy, Boston Globe, Jun 19] No SBIR. Matritech (Newton, MA)MZT Holdings Inc., formerly known as Matritech (Newton, MA; $5500K SBIR) ., reports that the former maker of bladder cancer tests has filed papers with state and federal regulators to dissolve its business and discontinue trading of its common stock [Mass High Tech, Jan 21]Matritech (Newton, MA; 5 SBIR Phase 1s), maker of tests for bladder cancer, reports it plans to sell its assets to a Massachusetts diagnostics firm [Inverness Medical Innovations for $36M] and wind down its operations [Mass High Tech, Aug 28] Matritech (Newton, MA) raised $4.36M in a private placement. [Jan 22, 07]. Five Phase 1 SBIRs in the mid 1990s. The stock p rice is down more than 90% from its highs of the last decade. Maxdem (San Dimas, CA)Another $6M for the world's stiffest, hardest, strongest polymer. Mississippi Polymer Technology got a $6M DOD Title III production contract for Parmax, its signature polymer than derives from an SBIR contract to a SoCal company. MPT is a production spin-off company of MaxDem which was nurtured by SDIO/BMDO first for polyquinilines and then for the self-reinforced thermoplastic polymer that became Parmax. Founder Bob Gagne took advantage of a BMDO offer to extend his Phase 2 SBIR if he found co-investment money to help move the material to the next stage of maturity. Gagne says he had never heard of government's making such offers but it was the time when BMDO was regularly moving the best new technology along a growth path. No, there's no sign that MDA will ever do that again with its present management attitude. Hello, Mississippi!
MaxygenMaxygen up 10% [Oct 23, 08] Maxygen down 10% [Oct 22, 08] Maxygen down 11% [Oct 15, 08] Maxygen up 13% [Oct 14, 08] Maxygen up 15% [Oct 10, 08] The Wall Street Journal's Patent Scorecard in Biotechnology ranks Invitrogen and Maxygen #2 and 3 in Science Strength (13-week rolling average). Sequenom was #6; Affymetrix #11 of 28 listed. Only Sequenom had an impressive stock price record, up 170% over 52 weeks. Maxygen up 14% [Sep 25, 08] Maxygen down 14% [Sep 22, 08] Maxygen up 13% [Sep 16, 08] Maxygen up 12% [Aug 8, 08] Maxygen up 12% [Aug 1, 08] Maxygen up 28% ...it is selling its hemophilia treatment program to Bayer's health care division for $90 million, plus up to $30 million in future milestone payments. [AP, Jul 2, 08] Maxygen down 28% [Jun 13, 08] after the company said it may be open to patent infringement litigation from rival Amgen. Maxygen up 11% [Nov 6, 07] MaxyGen down 12% on soggy earnings [Nov 1, 07] Maxygen up 10% [Oct 1, 07] Maxygen up 12% [Nov 16, 06]
Mechanical TechnologyMechanical Tech up 71% [Sep 19, 08] after its third generation Mobion® Chip has improved power performance by approximately 25% [pres release] Fuel cell developer MTI MicroFuel Cells received a $2.2 million bridge loan from its parent company and other investors to remain on track for commercialization. [Albany Times-Union, Sep 19] Mechanical Technology is eliminating 29 positions (third of the work force) -- including its CFO -- as a way to cut expenses and hold on to its cash. [Albany Times-Union, Sep 5] Mechanical Tech down 23% [Jul 23, 08] Mechanical Technology up 63% [Jul 22, 08], doubled in two days, after recent press release that it has achieved 2,700 hours of continuous operation with a Mobion laboratory cell the building block of the Company’s Mobion chip and systems. Mechanical Technology up 28% [Jul 21, 08] Mechanical Technology is hoping to raise $12 million to market its newest Mobion portable fuel cell. [Albany Business Journal, Jul 8, 08] MTI MicroFuel Cells, developer of Mobion portable power technology, announced today it will open an office in China. Parent Mechanical Technology said it has regained compliance with the Nasdaq's listing requirements (after an one for eight reverse split).[The Business Review (Albany), Jun 5, 08] MTI MicroFuel Cells is unveiling a new methanol-powered fuel cell for GPS navigation systems. ... Although GPS devices, or global positioning systems, are popular in cars, MTI Micro's fuel cell is embedded in a hand-held GPS used by hikers and campers. The prototype is the latest fuel-cell product MTI Micro has shown to the public. [Larry Rulison, Albany Times-Union, May 2, 08] Mechanical Technology got a NASDAQ warning of potential delisting for being under a buck. [Jan 08] MTI MicroFuel Cells (Colonie, NY; one SBIR) developing a small fuel cell designed to power consumer electronics, has set up a pilot manufacturing line. [Albany Times-Union, Jan 9, 08] a subsidiary of Mechanical Technology (Latham, NY; three SBIRs)Mechanical Technology has decided to exit the military market for fuel cells and will lay off roughly 25 people as it focuses exclusively on consumer electronics. One reason is Army budget cuts, especially cancellation of the Army's billion-dollar Land Warrior program. [Larry Rulison, Albany Times-Union, Mar 15] Foreign Interest. Mechanical Technology sold $11M worth of stock to three investors, one of which is investment fund registered to the Cayman Islands The company says it will use the money to fund its fuel-cell subsidiary, MTI MicroFuel Cells, which is developing fuel cells for the military and consumer electronics markets. [Albany Times-Union, Dec 22] Four Phase 1 SBIRs over a decade. Development Costs. the parent company of MTI MicroFuel Cells Inc. [Mechanical Technology] must raise additional capital to keep funding development of its Mobion fuel cell device, Wall Street analysts say, to fuel the company's cash burn is about $3M per quarter [Albany Times-Union, Nov 11] And it lost $3.7M in the most recent quarter.
Medarex (Princeton, NJ)Medarex up 11% [Oct 30, 08] Medarex up 10% [Oct 28, 08] Medarex up 10% [Oct 16, 08] Medarex up 31% [Oct 13, 08] Medarex (Princeton, NJ; $2M SBIR) plunged 18% after Pfizer's melanoma drug failed a clinical trial. The , biotechnology company was a partner with Pfizer on the development program and has a similar drug in late-stage trials with Bristol-Myers Squibb. [Wall Street Journal, Apr 3, 08]
MedImmuneMedImmune said it is willing to consider takeover offers, reversing its stand against a sale because of interest from big pharmaceutical companies and investor unhappiness with the company's performance. The company has a market capitalization of nearly $9B and posted $1.28B revenue last year, mostly from its childhood respiratory drug Synagis. MedImmune also makes the inhaled influenza vaccine FluMist.[AP, Apr 13] $4M SBIR in the 1990s. Medis (New York NY)Medis Technologies, a small firm based in New York, plans to distribute hundreds of its new Power Pack portable fuel cells to a select group of business people, politicians and opinion formers. Each fuel cell is about the size of a cigarette packet, weighs 150 grams, and generates electricity by combining oxygen from the air with an internal fuel. It can be plugged into a hand-held device (such as a mobile phone, music player or portable games console) to power or recharge it, and has sufficient capacity to provide around 30 hours of talk-time on a mobile phone, or 60-80 hours of playback time for an iPod music-player. [The Economist, Jun 10] No SBIRs of record. MemjetHP will be forced to pay attention, says Steve Hoffenberg, director of consumer imaging research for Lyra Research, which monitors the digital imaging industry. "What Memjet is offering blows away anything else out there," Hoffenberg said. [Ken Dey, Seattle Times, May 21] No SBIR, market-driven innovators don't need SBIR and its robotic procedures. SBIR is for firms and technologies where time does not matter. CEO Bill McGlynn spent twenty years in HP's printing world.
Memry (Bethel, CT)Memry (Bethel, CT; $1.6M SBIR) up 65% reports it will be acquired by Italian firm SAES Getters SpA, Italian Group in a deal worth about $77.7 million. [Mass High Tech, Jun 24] Memsic (Andover, MA)Memsic (Andover, MA; no SBIR) raised $60M by IPO. Its website says it designs, manufactures and markets CMOS Micro-Electro-Mechanical Systems (MEMS) IC products that have on-chip mixed signal processing. One director, Paul Zavracky, was once COO of Kopin. The founder CEO Yang Zhao is also Vice Chairman of the Board of Beijing University, School of Engineering. It has a wholly owned subsidiary, MEMSIC Semiconductor (Wuxi), LTD., in Wuxi, China to effectively manage the product quality, engineering, manufacturing yield, as well as the critical relationship with our foundries. MEMS Optical (Huntsville, AL)SBIR company advertises price competition. Unlike almost all advertisers in journals like Laser Focus World who tout technology gee-whiz. MEMS Optical a walled-off subsidiary of SY Technology (Huntsville, AL) advertises 50 assorted diffusers and splitters for under $5 each. Mirror, Mirror On the Wall MER (Tucson, AZ)Last year The Red Herring (June 15, 01) reported that MER (Tucson, AZ) owned a third of a enterprise to mass produce fullerienes and that they were cutting prices fast. (if the government won't put in SBIR money, you need some market move like price cutting to move product.) MER says the big customer is Toyota. MER has had about $1.2M of DOD SBIR for fullerene, all but one in Phase 1 contracts. The one Phase 2 was in the mid-90s. Merge Technologies (Milwaukee, WI)Merge Technologies's (Milwaukee, WI; no SBIR) woes have reached the point where the company is letting go workers in India hired to replace workers let go in West Allis and elsewhere in North America. The company (dba Merge Healthcare} , which develops software for medical imaging, said Thursday it plans to eliminate 160 jobs, including those of 115 people in Pune, a city in west-central India. [Guy Boulton, Milwaukee Journal Sentinel, Feb 15,08]
Meridian Bioscience (Cincinnati, OH)Meridian Bioscience down 10% [Oct 15, 08] Meridian Bioscience up 10% [Oct 13, 08] Meridian Bioscience down 16% [Jul 17, 08] on a hint of softer sales. Meridian Bioscience (Newton, OH; one SBIR) is once again one of the nation's fastest-growing small public companies, according to Fortune Small Business magazine. The Newtown-based maker of diagnostic test kits and biotechnology products was No. 65 on the list this year. The companies were ranked based on percentage growth in earnings, revenue and stock performance over the past three years, according to a news release. [Business Courier of Cincinnati, Jun 27, 08] Meridian Bioscience (Cincinnati, OH; one SBIR) down 19%, after posting fiscal-second-quarter net income and sales that were less than Wall Street's guidance. [Wall Street Journal, Apr 18] Mersana Therapeutics (formerly Nanopharma, Cambridge, MA)Nanotech-focused drug company Mersana Therapeutics (formerly Nanopharma; Cambridge, MA; no SBIR) has raised $4 million in new funding from a convertible note placement, ... With the new funding, Mersana has raised approximately $36 million in private investment [since 2005]... proprietary nanotechnology platform to transform existing and experimental anti-cancer agents into new, patentable drugs with better pharmaceutical properties. [Mass High Tech, Oct 24, 08] Mesocopic Devices (Broomfield, CO)Protonex Technology (Southborough, MA; $1M SBIR) which makes high-performance proton exchange membrane (PEM) fuel cells will pay $12M for Mesoscopic Devices (Broomfield, CO; $5M+ SBIR) which makes a range of fuel cells. |
