05/17/05

Maryland's Top Incubator Companies Recognized

Fifth Annual Incubator Companies of the Year Awards Highlight Six Companies

COLUMBIA, Md. (May 17, 2005) – American Express Tax and Business Services, the Maryland Department of Business and Economic Development (DBED), the Maryland Technology Development Corporation (TEDCO) and Saul Ewing LLP announced Monday evening the winners of the fifth annual Maryland Incubator Companies of the Year Awards during a reception at the Renaissance Harborplace Hotel in Baltimore. The awards, whose winners were chosen by a selection committee comprised of venture capitalists and government and business leaders, recognized the achievements of six current and graduate companies of Maryland's incubators. The awards were presented by John W. Holaday, Ph.D., the Co-Founder and Chairman of HarVest Bank of Maryland .

“I am so pleased to have been able to help recognize these outstanding companies that have benefited from Maryland's incubator system and enhance Maryland's reputation as a technology leader,” said Holaday. “Thanks to the awards' sponsors, including American Express Tax and Business Services and Saul Ewing, the Maryland Incubator Company of the Year Awards spotlight the emerging technologies that these companies have developed, as well as illustrate the impact of the state's prominent incubation system .”

" From a company in Baltimore County that developed a neural net firewall to a Montgomery County-based company that developed the first FDA cleared anthrax diagnostic test, this year's winners demonstrate a wide array of innovative technologies being developed throughout the State of Maryland ," said Robert A. Spar, Esq., a partner at Saul Ewing LLP. "Saul Ewing is proud to recognize these cutting edge companies and is proud to be partnering with organizations like DBED and TEDCO that provide such valuable support to growing companies in the state."

The winning companies were selected based on the organization's goals and its success in achieving the objectives. Judges considered each company's technology or product development; increase in employee numbers; growth in revenue or earnings; engagement of significant customers and strategic partners; technology transfer; receipt of awards or grants; attraction of outside investors; innovation; self-sufficiency; impact on the region; and ability to use an incubator's services.

“This annual event allows us as a community to recognize the progress made throughout the state in our business incubators,” said Brian S. Meritt, managing director of the Technology/Emerging Growth Companies Practice of American Express Tax and Business Services. “We have the utmost confidence in these companies and can only anticipate the advancements and success that they will achieve in the future.”

The categories and award-winners (incubator in parentheses) are:

New Incubator Company – AVICode, Inc. (techcenter@UMBC, Baltimore) Detects and reports application faults in interconnected systems by providing products that monitor application servers, isolate problems and tell operations managers where to find the trouble spots..

Life Science – Innovative Biosensors, Inc. (Technology Advancement Program, College Park ) Develops rapid pathogen detection technologies with the world's fastest, most sensitive tests to detect infectious diseases.

Information Technology – TechGuard, LLC (techcenter@UMBC, Baltimore) Develops hardware, software and consulting solutions for Internet security and privacy.

Technology Service – Radius Technology Group, Inc. (Silver Spring Innovation Center, Silver Spring) Provides information assurance and security solutions to help manage and protect data investments.

Technology Transfer – Sensics, Inc. (Emerging Technology Center, Baltimore) Develops high-end displays and camera systems for virtual reality and telerobotics.

Graduate – Tetracore, Inc. ( Maryland Technology Development Center , Rockville ) Develops diagnostics for infectious diseases and bio-terrorism threat agents

The selection committee this year includes: James Broder, eCentury Capital Partners; Julie Coons, Tech Council of Maryland; Christine Copple, Ph.D, ASM Resources; Charles Curran, Valhalla Partners; Josh Fidler, Boulder Ventures; Christopher Foster, DBED; David Freschman, Delaware Innovation Fund; Brian Giblin, Edison Venture Fund; Elizabeth Good, DBED; Mark Grovic, New Markets Growth Fund; Charles Heller, Beacon Global Private Equity; Richard A. Kohr, Jr., Chesapeake Emerging Opportunities Club; Penny Lewandowski, Greater Baltimore Technology Council; Brian Meritt, American Express Tax and Business Services; Eric Orlinsky, Saul Ewing LLP; Alexander Perry, Anthem Capital; Michael Salgaller, Ph.D, Toucan Capital Corp.; Heidi Sheppard, TEDCO; Phillip Singerman, TEDCO; Robert A. Spar, Saul Ewing LLP; Stefan Strein, NextGen Capital; Stanley Tucker, MMG Ventures; Geeta S. Vemuri, Ph.D, Quaker BioVentures, Inc.; Steve Walker, Steve Walker & Assoc.; Nora Zietz, Johns Hopkins Institutions; and Matt Zuga, Red Abbey Ventures.

Maryland Incubator Company of the Year Awards recognize the achievements of current and graduate companies within Maryland's incubators. Application finalists and category winners are chosen by a group of regional industry leaders and early-stage investors. American Express Tax and Business Services, the Maryland Business Incubation Association (MBIA), the Maryland Department of Business and Economic Development (DBED), the Maryland Technology Development Corp. (TEDCO) and Saul Ewing LLP are the awards' sponsors. Partners of the awards are the Maryland Business Incubation Association (MBIA), the Baltimore Business Journal, the Washington Business Journal, the Tech Council of Maryland and Greater Baltimore Tech Council. For more information, visit www.mdincubatoraward.com.

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