AUSTIN, Texas--(BUSINESS WIRE)--Austin life sciences venture firm, Emergent Technologies, Inc. (ETI), announced the first biotech tenants of ETI’s life sciences laboratory space. Encompassing the entire first floor of the new, three-story ETI building in Austin, the state-of-the-art laboratory space is 7,212 square feet. Biotechnology company Beacon Sciences and its subsidiary, Reveal Sciences, a new personal care technology start-up, as well as a third portfolio company to be announced in summer 2008, have already moved into the newly built laboratory space. All companies are funded and managed by ETI.
Utilizing the ETI lab space for ongoing research, Beacon Sciences will continue work on bioscience applications for the discoveries made by Dr. Eric V. Anslyn at The University of Texas at Austin. Dr. Anslyn, a world-renowned leader in his field, serves as Beacon Sciences’ Chief Scientist. Beacon Sciences delivers visible, custom tests utilizing color change technology to the medical sector.
Dr. Anslyn said, “ETI is an excellent commercialization partner for early-stage and emerging biotech companies. The support, expertise and resources ETI provides companies like ours are unmatched in this region. And Austin is a great location for both Beacon Sciences and Reveal Sciences as we grow.”
“Having state-of-the-art laboratory facilities and business offices combined under the same roof is a real advantage,” stated Beacon Sciences President Dr. Damon Borich, who also serves parent company ETI in the role of Senior Vice President and Chief Medical Officer. “Biotech startups have limited options and typically use university facilities separate from their business offices. The opportunities provided by the pre-built lab space should serve as a significant catalyst for rapid development and discovery.”
The second ETI portfolio company to move into the lab space is Reveal Sciences, a wholly-owned subsidiary of Beacon Sciences. Reveal Sciences is a new personal care technology company specializing in tailored color changes for consumer products and personalized skin and hair analysis for the cosmetics and personal/home care industries.
“Our new laboratory space truly sets us apart from the traditional venture capital firms,” said ETI President and CEO, Thomas A. Harlan. “We are focused on what we call ‘invention capital,’ which goes beyond simply funding a venture and includes the critical commercialization steps of laboratory enablement, intellectual property expansion, and superior business management. We are excited that we can provide all of these elements here in Austin, Texas.”
About Emergent Technologies, Inc.
Emergent Technologies Inc. (ETI), founded in 1989 by Thomas A. Harlan, is a unique life sciences venture firm that forms and manages companies and funds that commercialize groundbreaking institutional and university-based technologies. ETI is a turnkey solution for converting university science into high return ventures. ETI works with regional economic development groups and universities to capitalize on the technology assets unique to their region.
ETI is pioneering a unique business approach the firm describes as invention capital. In addition to the traditional venture capital approach of raising and investing funds, ETI drives the selection and expansion of each investment’s intellectual property, the key asset to most technology-based start-up companies. For more information, visit the company website www.etibio.com