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Archive for December, 2009

EnzySurge wraps $2.5M round for wound treatment

Tuesday, December 22nd, 2009

dermastream_logoRICHMOND, VA & ROSH HA’AYIN, ISRAEL – EnzySurge, a company selling advanced chronic wound management technology, has closed on a $2.5 million round led by Eli Gilboa of Gilboa & Licht. Gilboa serves as the company’s active chairman. The company, which has raised $10 million so far, is valued about $18.5 million in the latest raise.

It recently received U.S. Food & Drug Administration approval to market its new SilverStream solution for prescription under a health care professional’s guidance. It is used to manage and moisturize wounds such as pressure ulcers, statis ulcers, diabetic foot ulcers, post surgical wounds, first and second degree burns and minor cuts.

The FDA also cleared  DermaSept, an Over-the-Counter version of the SilverStream product,management and moisturizing of minor cuts, burns, abrasions and irritated areas.

The dispoable DermaStream product line continuously streams fresh solutions to debride and clense wounds, constantly removing debris and micro-organisms while creating negative pressure over the wound.

Amir Shiner, CEO said,  “This financing allows us to execute our go-to-market market plan in the US during 2010.”

The company operates its US marketing and sales activities from its office in Richmond.

Online: www.dermastream.com

New service to measure impact of online ads on CPG sales

Tuesday, December 22nd, 2009

comScore_IncRESTON, VA – Companies should count impressions online ads make and the resulting sales, not click-throughs to measure their effectiveness at selling consumer package goods sold by supermarkets, drug stores, mass merchants and other retail outlets. So said Gian Fulgoni, comScore’s co-founder and executive chair when we interviewed him prior to his appearance at our second annual Internet Summit in November.

Now comScore has teamed with Information Resources Inc. (IRI) to measure the impact of online advertising sales campaigns on CPG brands across all retail channels.

“One of the things we do is help our clients understand what works online and what doesn’t,” Fulgoni said at the Summit. “We help our clients understand how their campaigns worked even without clicks by tracking the people who saw the ad once, twice or as many times as we want to track to see if they result in a behavior change.”

Fulgoni expressed some frustration at getting advertisers to recognize that click-throughs on digital ads, while not irrelevant, do not measure everything. In fact, he said, comScore found that online ad sales campaigns it tracked showed that Internet campaigns worked as well as TV advertising in moving consumer product goods.

The company now will use IRI’s Consumer Network household purchase panel to measure retail sales in all channels along with comScore’s ability to understand which panelists were exposed to online advertising.

The solution will be integrated into comScore’s AdEffx suite of products that provides media planners with  tools  to maximize the ROI from their online ad campaigns, ranging from data for improved planning through to tools for smarter buying and finally the channel-wide measurement of campaign ROI that are the focus of this new service.

Alistair Sutcliffe, comScore vice president said,  “The combination of IRI’s multi-channel purchase panel data with comScore’s industry-leading online data offers the critical components needed to accurately tie consumers’ purchase behavior back to their exposure to online media.”

Russ Fradin, CEO of Adify, said, “This is an important new capability from comScore and IRI because it measures the offline sales ROI from any online ad campaign run on any Internet property.” — By Allan Maurer

Interview with Gian Fulgoni on TechJournal South: bit.ly/653Lg2

Online: www.comscore.com; www.internetsummitevent.com

Limelight Networks acquiring Atlanta’s Eye Wonder for $110M

Tuesday, December 22nd, 2009

Eyewonder_logoATLANTA – Consolidation in the interactive advertising and video market is inevitable and we see signs of it in the Southeast. Arizona-based Limelight Networks Inc. (Nasdaq:LLNW) is acquiring Atlanta’s EyeWonder Inc. for $110 million in a cash and stock deal. The two longtime partners sell services to publishers, marketers, agencies and enterprises, with Limelight providing the underlying delivery infrastructure while EyeWonder sells tools for developing online video advertising and interactive content.

The deal includes $62 million in cash and 12.74 million shares of Limelight common stock.

According to the Atlanta Business Chronicle, the deal should not affect EyeWonder’s 250 person workforce, most of it in Atlanta, since the two companies offer complementary but different services.

EyeWonder raised an undisclosed amount of equity in 2007 from BIA Digital Partners.

EyeWonder is becoming a division of Limelight, but will remain headquartered in Atlanta.

EyeWonder’s Web page with its opening promotional video is worth a look.

Online: www.eyewonder.com

Lab21 locating new HQ in SC, creating 65 jobs

Tuesday, December 22nd, 2009

lab21GREENVILLE, SC – Lab21 Inc. will locate its new U.S. headquarters, a diagnostics service laboratory and product distribution operations, in Greenville County, creating 65 new jobs.We hear a lot of talk among economic developers about marshaling public-private partnerships to create jobs. This is the culmination of a succession of them.

Lab21 has received funding from SCRA’s SC Launch program, Nexus Medical Partners and other private investors.

Nexus Medical Partners received capital from InvestSC, which is under contract with the S.C. Venture Capital Investment Authority to make investments pursuant to the Venture Capital Investment Act. Nexus not only invested, but also helped recruit Lab21 to South Carolina.

Lab21 Inc. is the result of the merger of Selah Technologies, located in the Upstate of South Carolina, and Lab21 Ltd., a rapidly growing United Kingdom-based medical diagnostics firm.

The new diagnostic service laboratory, which will conform to U.S. CLIA regulatory requirements, will have a particular focus on oncology and is expected to open early next year.

Selah Technologies originated to commercialize basic research in advanced materials from Clemson University.  Michael Bolick, CEO of Selah Technologies, said, “I have been looking for a partner in the diagnostic industry for some time in order to drive the development and commercialization process for the Selah technology.

“SCRA views the Lab21-Selah integration as a prime example of how effective public-private partnerships are achieving outstanding knowledge economy development results in South Carolina today. The event sequence from Clemson discovery, then licensing to Selah, investments in Selah by SCRA’s SC Launch Inc. affiliate and private investment partners, leading to premium acquisition by Lab21, and their ultimate landing of U.S. operations in S.C., demonstrates exactly how the knowledge economy development playbook works,” said Bill Mahoney, SCRA CEO.

Online: www.lab21.com; www.nexusmp.com; www.scra.org

CIT GAP funds invest in healthcare IT firm Altruista Health

Monday, December 21st, 2009

altruistahealthHERNDON, VA – The Center for Innovative Technology GAP Funds have invested an undisclosed amount in Altruista Health Inc., a Reston-based healthcare technology company that provides proprietary software enabling health care customers to reduce medical costs, improve care, maximize operational efficiency and comply with regulatory requirements.

CIT GAP Funds is a family of venture funds designed to bridge the gap between “family and friends” funding and early-stage equity investments for Virginia-based technology and life science companies. That early stage funding gap is widely seen as one of the stumbling blocks to getting startups up and running in the Southeast.

“Altruista is our thirty-sixth investment,” noted Tom Weithman, CIT GAP Funds managing director. “GAP Fund investments have leveraged another $41 million of private equity investments in emerging Virginia companies, which moves innovation into the marketplace faster.”

Headquartered in Reston, VA, Altrusita is an innovative provider of highly patient-centric, flexible and customizable total population care management technology and data analytic systems used to streamline clinical processes, improve patient outcomes and reduce avoidable healthcare costs.

We see that Altruista Health clients include some of the leading names in the industry, such as Community Health Center Network, Douglas County Independent Physicians Association, ATRIO Health Plans, Comprehensive Care Solutions and Heinz Family Philanthropies.

Online: www.altruistahealth.com

TechAmercia urges extension of R&D tax credit

Monday, December 21st, 2009

tech-america-logoWASHINGTON, DC – Since its inception in 1981, the research and development tax credit, which is has helped spur innovation and create jobs, has been allowed to expire a dozen times. It’s set to expire again Dec. 18. TechAmerica, the industry’s largest advocacy organization, is urging Congress to pass a seemless extention.

The R&D tax credit is really an investment in high-paying jobs for hard-working Americans,” wrote TechAmerica President Phil Bond in a statement.

“The credit is available only for certain qualified research activities performed in the United States, with more than 70 percent of the benefits of the credit attributable to the wages and salaries of U.S. employees. It is a critical incentive for companies that conduct R&D in the United States, and it has a proven history of encouraging additional investments in research and job growth in companies of all sizes.

He added that “By increasing the rate of the Alternative Simplified Credit (ASC) to 20 percent, as proposed in S. 1203, the Senate can provide a commensurate incentive for all companies and an even stronger driver for investment.”

Online: www.techamerica.org

SK3 Group acquires NuvoDigital

Monday, December 21st, 2009

sk3_logoMIAMI, FL – Healthcare of Today, parent of  the Miami-based SK3 Group Inc. (Pink Sheets: SKTO), has acquired data security firm NuvoDigital.

Salt Lake City-based Nuvo sell technology for complete, digital data protection from unauthorized use, with an emphasis on meeting the industry standards for HIPAA compliant data security technology.

CEO of Healthcare of Today Henry Jan says, “NuvoDigital provides exceptional data security capabilities, and is a natural fit for healthcare companies that, like ours, want to protect their patients’ private information.

Healthcare of Today, which recently merged with SK3 Group, is based in Burbank, CA.

Online: www.healthcareoftoday.com

Game Changers: Blackberry Storm 2 and the Droid

Monday, December 21st, 2009

A guest column by Joe Procopio

joepcolumnshotRESEARCH TRIANGLE, NC  – I don’t hate Apple. I really don’t. I get that a lot, mostly because I’m constantly looking for a comparable iPhone that isn’t the iPhone. That and my rear-windshield decal of Calvin from Calvin and Hobbes doing something impolite to an iMac.

That joke is almost a decade too late.

But let me put it this way. I keep you posted about iPhones that aren’t iPhones not for any ill-will towards Apple, but because Apple is the innovator. Sure, I could easily write a monthly column detailing in microscopic fanboydom every last little slide and pinch about the iPhone, but where would that leave you?

“iPhones Are Great! Go Buy One!”

“The Internet Makes Our Lives Easier!”

“You Should Be Concerned About Your Privacy Online!”

“Nerds Dress Funny!”

Wait. I did that last one. Twice, I think.

What I’m saying is I’m here to give you the alternative. Let the big boys sell you the iPhone and let the blogs fawn and jailbreak and build little iPhone cities that their iPhones can rule with benevolence. In fact, had Apple sent me one back in 2007, this column would probably be about how you can use your iPhone to can preserves for your family over the holidays. I’m grudgy like that.

As it is, during the weekly technical meeting at one of my startups, everyone is thumbing through their iPhone but me, and in a room full of geeks that make Nimoy look like Shatner, suddenly I’m the dork.

It stings, but it doesn’t. You know?

So it is not with shadenfreude that I report cracks in the iArmor. This does not give me glee. The Roomba gives me glee.

I’m as shocked as you are, and by that I mean I’m not shocked at all,  to report that there are now not one, but two handsets that can go mano-a-mano with the iPhone.

They all have their drawbacks

They have their drawbacks, sure, but they’ll do. And if you don’t want to join the iFlock, or if you think that a battle of words between Apple and AT&T over who is at fault for dropping all the calls makes you think that maybe nobody knows why all the calls are getting dropped.

In November, Verizon launched the Storm 2 and the Droid within a week of one another. While the Storm 2 seemed like a non-story, essentially a little-bit-better version of a handset that seemed like it was on its way to cult classic, the Droid was a huge rollout, with a $100-million “Droid Does” ad campaign.

Slick.

Let’s start with the Storm 2. Conventional wisdom on the Storm was that it was RIM’s shot at the consumer market. It looked and acted like an iPhone, but the touchscreen was clunky and the apps were sparse. The Storm 2 is a lot like the Storm, with some minor variations, and if you’ve already got the Storm, I’d hesitate to upgrade for two reasons:

1) The touchscreen is improved, but if you’re already comfortable with the original, and that was the big hurdle for the Storm in the first place, you’re not going to notice much of a difference. It’s not revolutionary, it’s more like “Oh, that’s how it’s supposed to work.”

2) The same upgrades to the OS and the applications can be downloaded through the desktop manager to your existing Storm, and I would almost caution against this. It’s not seamless, and a lot of apps have to be re-registered and in some cases downloaded again. I ran into Java errors, that kind of thing, not bone-crushing, just annoying.

Mom and Dad would look at that “white screen of whoops” and immediately call someone – RIM support, Best Buy, their General Practitioner. The major upgrades you’ll notice are better web-browsing and, more cute than clever, a more iPhonish navigation, with screens “growing” in and out instead of dissolving.

Eat that, Apple!

See, that’s the kind of thing I have to stop.

However, if you’ve got a standard Blackberry or none at all, and you want a little bit of consumer bell-and-whistle in your corporate life, go for the Storm 2. Here’s why.

I’ve long been fail on the virtual keyboard, from the Windows Mobile Experience (and removing the specter of Microsoft, let me just claim that as an awesome band name), where you had to poke your phone with a stylus like you were trying to kill it very slowly, to the ATM, at some bank branches the recognition and screen have deteriorated so quickly and completely that I actually have to punch in my PIN with my fist, resulting in much operator error and an occasional visit by the security guard.

“Son, I’m as angry as you are about the bailouts and bonuses and such but don’t take it out on the branch.”

Both the Storm 2 and the Droid have maximized the Virtual Keyboard Experience (for the record, frightening band name, makes me think of Steve Winwood). Both are, and this is the major factor, more than acceptable substitutes for a physical keyboard.

On the Storm 2, both the portrait and the landscape modes allowed me to type just as quickly as I would on a physical model, and the landscape mode, due to its size, I would say even more quickly. No errors. None.

The question of the day

Of course, this begs the question of the day: Why does the Droid have a slide-out, bulky physical keyboard along with its virtual offerings?

The Droid is supposed to rocket into the mobile space and launch Google, cement Verizon, and save Motorola, if not slay Apple. And the handset and the OS are sweet. This is the fruition of the T1, and everything that handset was missing, Droid… does.

So if you’re not ready to commit to a business phone but you still want to able to fake like you’re at the office, you can totally sidestep the corporate world and cozy up to Google, who even with its zillion-dollar revenues, $600 stock price, and tentacles into every facet of technology, just doesn’t feel like a corporation, this is the phone for you.

Now, while the corporate and evil (but Canadian, so it cancels out) Storm 2 made all its advancements in form, the uncorporate and don’t-be-evil Android 2.0 pushes ahead strictly in function.

And while the most noticeable (if not most useful) new feature on the Storm 2 is iPhonish, the most useful and noticeable new feature in Android is Blackberryish, the ability to view all your communication in one inbox.

Irony or not?

Ironic. Sort of.

While these handsets are game changers, the playing field is not yet level. The iPhone was a cultural shift, and the Storm 2 and Droid, when seen as opening up the market with options, are an equal shift. But remember that the iPhone crossed over from tech star into pop star.

Neither of these handsets will do that, but that’s not important. RIM’s earnings report ending November 30th showed over 4 million new Blackberry accounts and over 10 million devices shipped. They’re selling Blackberrys. And Motorola is back from the brink, and if La Jolla is indeed a lower-end Android phone, then there’s crossover potential there as well.

Verizon made a huge dent with their “There’s a map for that” campaign, a shot to the head that Luke Wilson just can’t parry. In fact, AT&T’s reaction just made it worse, by keeping the fray going far longer than the ad itself would have. But remember, all Apple has to do is move to Verizon (or buy Sprint) to reset the bar.

They’ve already got a commercial out touting the ability to view email in-call. And it won’t be long before the iPhone can be your business phone, provided you’re in a hip business that doesn’t necessarily need to make phone calls.

I can’t help myself.

So now there are three: Apple, RIM, and Google. Microsoft has essentially thrown its hands up and the only way for Nokia to get back into the game is to release a handset called the BetaMax. But the Fins just don’t have that kind of sense of humor.

The game has changed for sure, and the winner is us, the consumer, as it opens up all kinds of new possibilities.

Joe Procopio is the founder of Intrepid Media, a technical and management consulting firm (www.intrepidmedia.net) that has spun out a publishing company/creative network (intrepidmedia.com) and digital incubator ExitEvent (exitevent.com). Note that he stayed away from any and all Star Wars jokes in describing the Droid. He can be reached at joe@intrepidmedia.net.

ManTech acquiring Sensor Technologies for $242M

Monday, December 21st, 2009

STI Top GraphicFAIRFAX, VA – We see that defense and intelligence tech companies are still a hot item: ManTech Corp. (Nasdaq:MANT) says it will pay $242 million in cash for Sensor Technologies. Sensor Tech sells mission-critical systems engineering and command, control, communications, computers, intelligence, surveillance and reconnaissance services and solutions to the Department of Defense.

STI’s largest customer is the U.S Army through several contracts. The Red Bank, NJ company generates solid operating margins and expects to produce approximately $340 million in revenue in 2009 and $450 million in revenue in 2010.

Headquartered in Fairfax, Virginia with approximately 8,000 professionals, ManTech sells innovative technologies and solutions for mission-critical national security programs to various U.S. federal government customers.

Online: www.mantech.com

Atlanta’s eRollover names first chair & CEO

Monday, December 21st, 2009

erolloverATLANTA -  ERollover a social media site focused on financial planning for retirement, has named veteran technology, financial planning and e-commerce executive Tim Harrington as the company’s first chair and CEO.

The site is different from many of the seemingly endless number of niche social media sites that keep popping up. The company’s Web site allows people to manage, connect, learn and share information about retirement planning through a social media community in a financial services vertical.

It is different from many social media sites in that it has a very specific purpose: eRollover’s Web 2.0 platform provides self-help methods to facilitate 401(k), 403(b), 457, or IRA rollovers.

Former CEO of Fogdog Sports

Harrington was formerly President and CEO of Fogdog Sports, an e-commerce site for sports enthusiasts, recognized by Fortune Magazine as a “world class” customer experience on the web.

He negotiated an exclusive operating and equity agreement with Nike Inc., their first e-commerce partnership. He raised more than $100 million from private and public financing, and guided Fogdog through a successful IPO with CSFB as lead banker.

Following the IPO, he successfully completed a merger with GSI Commerce (Nasdaq: GSIC).

Earlier in his career, Harrington was COO of IBM’s educational division. He was also founder and co-owner of Armor Gear, a consumer products company specializing in high-quality travel gear.

Online: www.erollover.com