Advanced Microbotics Corp. receives start-up funds from Oregon Resource & Technology Development Fund.PORTLAND, Ore.--(BUSINESS WIRE)--Oct. 24, 1995--Christophe J-P Sevrain, chief executive officer, recently announced Advanced Microbotics Corp. has received a $750,000 start-up investment from The Oregon Resource and Technology Development Fund. Advanced Microbotics Corp. incorporated in 1994 to commercialize surface functionalization Surface functionalization introduces chemical functional groups to a surface. This way, functional materials can be designed from substrates with standard bulk material properties. Prominent examples can be found in semiconductor industry and biomaterial research. and molecular imprinting This article is about polymer chemistry. The term "molecular imprinting" is also used to mean genetic imprinting. In chemistry, molecular imprinting is a technique to create template-shaped cavities in polymer matrices with memory of the template molecules. technologies developed at the University of Oregon The University of Oregon is a public university located in Eugene, Oregon. The university was founded in 1876, graduating its first class two years later. The University of Oregon is one of 60 members of the Association of American Universities. . The company will develop, manufacture, and sell chemical sensors and instruments for micro chemical analysis and coating materials coating material, n a biologically acceptable, usually porous nonmetal applied over the surface of a metallic implant with the expectation that tissue ingrowth will occur in the pores. Often a carbon polymer or ceramic substance. . These technologies offer a breakthrough in many markets including medical, veterinary, biotechnology, environmental, and industrial process control. The Oregon Resource and Technology Development Fund (ORTDF) emerged in 1985 when the Oregon Legislature chartered its mission of business building in the areas of natural resources, advanced electronic and technical industries, emerging fields of biotechnical and biomedical sciences Noun 1. biomedical science - the application of the principles of the natural sciences to medicine bioscience, life science - any of the branches of natural science dealing with the structure and behavior of living organisms , and to provide managerial assistance to emerging traded sector enterprises. The focus for accomplishing this goal was through seed capital financing secured from the Oregon Lottery The Oregon Lottery is run by the State of Oregon. History The present-day Oregon Lottery was enabled by an amendment to the Oregon Constitution approved by voters in the 1984 general election. . Since then, ORTDF has become an independent fund attached to the State Treasurer's office. Fund management was privatized in July of 1994. Wayne Embree of ORTDF remarked, "We are especially proud of our relationship with Advanced Microbotics Corp. Money was made available to them by ORTDF in increments based on their meeting several stringent performance benchmarks. All of these have been successfully met." Sevrain is also pleased with the relationship. "ORTDF makes it possible for start-up companies start-up company A new business. to acquire funding not otherwise available. But it doesn't stop there. They also offer support and a strong network. They are a resource rich with business expertise and offer assistance without interfering. I believe we have a great working relationship founded on a high level of mutual trust." Advanced Microbotics Corp. is in the process of hiring additional scientists, and will be using the services of U of O graduate students. By the end of 1996, Advanced Microbotics' technical team will consist of two consultants, four scientists, five engineers, and three technicians. The corporation also plans to purchase property and locate its production facility near the Portland Airport Portland Airport may refer to:
"We feel Portland is the perfect location for our operation," said Sevrain. "The area is attractive to professionals we hope will join our company, and also offers markets from which we can purchase raw materials and services we require." Advanced Microbotics is just one of ORTDF's success stories. Since its formation, the Fund has received $12.3 million in capital and generated earnings in returns of nearly $10 million. This has allowed ORTDF to invest over $13 million into 45 ventures since 1987. These companies now employ almost 800 people in many of Oregon's key industries. "ORTDF is beautifully managed and a great asset to the state of Oregon," added Sevrain. "No wonder Oregon has been recognized as being the number one state in the country most favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. to business startups." CONTACT: Imagineering Dave Chamberlain, 360/254-1825 |
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