Indiana Life Sciences Start ups Garner More than $1.5 Million in Competitive Federal Funding

Indiana Seed Fund Companies AgeneBio, CS-Keys, FAST, GRest,
Pericardial Access and SonarMed receive investment through the
Therapeutic Discovery Project Credit
Indianapolis, November 1, 2010 – More than half of the life sciences start-up companies
in the BioCrossroads-managed Indiana Seed Fund portfolio have received notices of funding
through the Therapeutic Discovery Project Credit under the federal Patient Protection and
Affordable Care Act of 2010.
Seed Fund companies AgeneBio, CS-Keys, FAST, GRest, Pericardial Access and SonarMed all
learned today from the Internal Revenue Service of their certification for a qualified investment
via this federal tax credit program.
“It’s a great day for Indiana’s entrepreneurs and some of our most promising therapies and
medical devices. With a federal government short on funds and an economy tight on capital,
this is a significant amount of funding that will add some very timely fuel to some of our most
important development efforts,” said David Johnson, president and CEO of BioCrossroads. “It’s
also interesting confirmation, from a credible if somewhat unusual source, that our Indiana
Seed Fund is a good judge of breakthrough innovation when it comes to start-ups for advancing
novel drug, device or diagnostic products.”
The IRS called for applications for funding during June and July 2010 for innovative diagnostic
projects as well as projects that develop a novel product, process, or technology to further the
effective delivery or administration of innovative therapeutics.
About BioCrossroads
BioCrossroads ( is Indiana’s initiative to grow, advance and invest in
the life sciences, a public-private collaboration that supports the region’s research and corporate
strengths while encouraging new business development. BioCrossroads provides money and
support to life sciences businesses, launches new life sciences enterprises (Indiana Health
Information Exchange, Fairbanks Institute for Healthy Communities, BioCrossroadsLINX,
Datalys Center and OrthoWorx) expands collaboration and partnerships among Indiana’s life
science institutions, promotes science education and markets Indiana’s life sciences industry.

Press Release

Lori LeRoy
317-238-2456/317- 514-0095 (cell)

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