Venture capital
 Start-up success

Title: Commercialization Council venture news
Full Citation
Permanent Link: http://ufdc.ufl.edu/UF00088889/00002
 Material Information
Title: Commercialization Council venture news
Series Title: Commercialization Council venture news
Physical Description: Serial
Creator: University of Florida Commercialization Council
Publisher: University of Florida Commercialization Council
Publication Date: Fall 2003
 Record Information
Bibliographic ID: UF00088889
Volume ID: VID00002
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.


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Table of Contents
    Venture capital
        Page 1
        Page 2
        Page 3
        Page 4
    Start-up success
        Page 5
        Page 6
Full Text
Venture Newsletter

Commercialization Council

Fall 2003

Members of the
Commercialization Council

Office of Technology Licensing
David Day Director
Jane Muir Associate Director

Univ. of Florida Foundation


Draper SI Ventures

An exciting new venture capital partnership, with close ties
to the University of Florida, has formed and should have a
significant impact on early-stage venture creation in Florida
and throughout the Southeast in the years ahead.

SI Ventures, a technology oriented VC based in Fort Myers
which has invested $160 million in two previous funds, has
partnered with the renowned Silicon Valley venture group
Draper Fisher Jurvetson to form Draper SI Ventures, which
will be the latest in Draper's national network of affiliate
funds and its first fund in the Southeastern United States.

Draper SI, which will have offices in Fort Myers and in
Research Triangle, N.C., is currently in the process of
raising its fund and expects a first close by early 2004.
Three of the four managing partners for Draper SI are
University of Florida alumni: SI Ventures veterans Manny
Fernandez and Brian Beach, along with newcomer Randy
Glein, who formerly was a partner with Tribune Ventures in

Emergent Growth Fund LLC

A group of successful entrepreneurs and businesspeople in
the Gainesville/Ocala area have joined together to form the
region's first "angel investor" fund, to be called Emergent
Growth Fund LLC. The fund, which expects to work very
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Venture Newsletter

Christopher Needles
Assistant VP/Development

Sid Martin Biotechnology
Development Incubator
Patti Breedlove Incubator Mgr.

The Commercialization Council
is funded by the
Research & Graduate
Programs Office.
Dr. Winfred M. Phillips
Vice-President & Dean,
Research & Graduate Programs

PO Box 115500
(352) 392-1582

The UFCC Venture e-newsletter is
sent to you by the University of
Florida Commercialization Council.

To be removed from the UFCC
Venture mailing list, please email

The information contained in UFCC
Venture may not be reproduced
without the permission of the
University of Florida
Commercialization Council.

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Licensing and the UF Foundation, is modeled after similar
efforts in Research Triangle, N.C.

Emergent Growth expects to raise between $2 million and
$2.5 million initially, and members have the option of
investing additional dollars in companies they find
particularly attractive. Among the founding principals of
Emergent Growth are former Regeneration Technologies
executives Jamie Grooms, Richard Allen and Jim Carnall;
MRI Devices co-founder Jeff Fitzsimmons, and MaxxVision
and former Nanoptics CEO Steve Tuchman.

The angel group plans to meet monthly and expects to
make its first investments is seed-stage startup companies
by the end of 2003 or early 2004.

Three UF Spin-Off Companies Featured at
Innovation Florida 2003 Early Stage Capital Raising

Three companies born out of the University of Florida's
biotech community were featured presenters this year at
Innovation Florida, an annual venture capital conference.
AxoGen, Daimonion, and GeneEx were identified by
conference organizers as solid candidates for early-stage
venture funding, capable of achieving at least $25 million in
revenue after five years of growth.

Each of the three UF spin-offs developed business plans and
worked with the university's Office of Technology Licensing
(OTL) to license patents for newly developed technologies.
OTL works with inventors to facilitate the transfer of
technologies created at UF into the commercial sector for
public use.

The Capital Conference showcases promising high growth,
high wage technology companies before a national audience
of venture capitalists, investment bankers, and individual

Silicon Valley Reception

Nearly 100 alumni and friends joined UF President Charles
Young in May for the university's second-annual reception
for Silicon Valley entrepreneurs and venture capital
investors, held at the Garden Court Hotel in Palo Alto. This
year's guest-of-honor was Manny Fernandez, a member of
the University of Florida Board of Trustees and former
chairman and CEO of Gartner Group who is now managing
partner of Gartner's venture capital arm, SI Ventures.

Among the Gator serial entrepreneurs and investors in
attendance were Wu-Fu Chen (Cascade Communications,
Crimson Ventures, Genesis Campus), Robert Cohn (Octel

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Venture Newsletter

Communications, Sequoia Capital), Will Chen (Billpoint,
OnePage), Jose Arreola (Cypress Semiconductor, Kovio),
Jeff Gold (Cordis, CryoVascular Systems), Jonathan Root
(US Venture Partners), Scott Weiss (HotMail, IronPort
Systems) and Yangbin Wang (EnjoyWeb).

The reception served as an effective means of cultivating
successful UF alumni in Silicon Valley and further involving
them in the university's growing entrepreneurship and
technology commercialization initiatives.

SEBIO Investors Forum November 10-11, 2003

Several University of Florida spin-offs will present at SEBIO,
an annual event hosted by the Southeastern Life Science
Association (SELSA). It is a two-day opportunity for
participants to meet investors, technology transfer officers,
corporate partners, CEO's and entrepreneurs.

The conference promises to provide information on the
Southeast's best life science investment opportunities, as
well as nationally recognized leaders from the investment
and bioscience industries discussing research, market and
financing trends. Featured speakers include James Mullen,
Chairman of the Board and CEO, Biogen and Dennis Gillings,
Chairman, Quintiles Transnational.

An invitation-only CEO Program will feature Michael Ashton,
CEO, SkyePharma; Fred Frank, Vice Chairman, Lehman
Brothers; Louis Lange, M.D., Ph.D., Chairman and CEO, CV
Therapeutics; Thomas Wiggans, President and CEO,
Connetics Corporation; and Jonathan Fleming, Managing
Partner, Oxford Bioscience Partners.

The SEBIO Investors Forum will be held at the Pinehurst
Resort in Pinehurst, North Carolina. For more information,
visit the website at http://www.sebio.org.

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UF's Sid Martin Biotechnology Incubator Reaches
100% Capacity

The university's nationally recognized incubator houses 15
startup biotech companies, up from 12. All labs are full and
a waiting list now exists. Graduations and natural attrition
will create room for new companies, but UF expects
occupancy to remain close to 100% for the foreseeable
future. The three newest companies are Pasteuria
Biosciences, BioMed Immunotech, and Veterinary Medical

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Venture Newsletter


Pasteuria is tackling the world's largest unmet pest-control
problem, plant-parasitic nematodes, using a naturally-
occurring nematode pathogen. BioMed Immunotech
specializes in providing the services of quantitative analysis
of T cell receptor repertoire spectratyping to researchers
and clinicians. Veterinary Medical Solutions designs,
develops, and manufactures medical devices for the
veterinary medical and surgical markets.

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2003 NCIIA Invention to Venture Workshop

The National Collegiate Inventors and Innovators Alliance
(NCIIA) will present a one-day workshop in technology-
driven entrepreneurship on November 15, 2003 at UF's
Emerson Alumni Hall.

The Invention to Venture workshop will focus on technology
commercialization, providing guidance on how to turn an
innovative product idea into a new technology venture.
Participants can expect information on technology
entrepreneurship basics, building networks, and planning.

Workshop sponsors include the Kauffman Foundation and
the Lemelson Foundation. Interested faculty, students,
regional entrepreneurs, investors and business leaders
should contact UF's Center for Entrepreneurship and
Innovation at (352) 392-2610.

Standing-Room Only at SBIR Workshop

It was standing-room only at a recent workshop aimed at
helping regional business owners write successful proposals
for the Small Business Innovation Research (SBIR) and
Small Business Technology Transfer (STTR) programs -
which represent more than $1 billion in awards to
thousands of companies annually. The workshop, sponsored
by EDA University Center and the Gainesville Area
Innovation Network (GAIN), included a presentation by local
businessman Jim Walker, who has received numerous SBIR
and STTR awards. EDA University Center and GAIN have
plans underway for a second workshop in the summer of

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Venture Newsletter


BusinessWeek calls Exactech "Hot Growth Company"

BusinessWeek magazine recently named Gainesville-based
Exactech to its list of 100 Hot Growth Companies.
BusinessWeek considered the company's sales growth,
earnings growth, and return on invested capital over a
three-year period. Exactech, a publicly-traded UF spin-off
that develops, manufactures and markets orthopaedic
equipment, was also previously named one of Forbes' 200
Best Small Companies. Exactech's founders are former UF
College of Medicine faculty. Click here to read the
BusinessWeek article:

Oragenics Completes Initial Public Offering

Oragenics, a Florida-based biotechnology company,
announced successful completion of its initial public offering
on June 24, 2003. Common shares are expected to be listed
for trading on the TSX Venture Exchange in US dollars.
Oragenics has sold 2.4 million units in British Columbia and
Alberta at a price of US$1.25 per unit for a total of US$3

The University of Florida's Office of Technology Licensing
(OTL), a beneficiary of this IPO, was presented with a
$100,000 check for legal fees by Oragenics chairman, Dr.
Jeffrey Hillman. According to David Day, OTL Director, the
university is excited about its partnership with Oragenics,
"Dr. Jeffrey Hillman has developed a very promising
technology and through the efforts of the OTL and our new
partnership with Oragenics, his invention may soon provide
significant benefit to millions."

Oragenics was also a tenant at UF's Sid Martin Biotech
Incubator. Staff members from OTL and the Incubator have
worked with members of the Oragenics team to assist them
in commercializing two exciting new discoveries, licensed
from the University of Florida and developed by Dr. Hillman.

The first is a replacement therapy for prevention of tooth
decay, which consists of a simple and painless mouth rinse
that can be administered by a dentist to provide lifetime
protection against cavities. Replacement therapy may be
the most significant advance in dental care and cavity
prevention since the introduction of fluoride more than half
a century ago. The second technology is a broad-spectrum
antibiotic called mutacin 1140, which holds the promise of
protection against a wide variety of disease-causing

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For more information about Oragenics, visit the company
website at http://www.oragenics.com.

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Check here for upcoming events:

Calendar of Events

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