Purdue Research Park-Based Companies to Travel to Silicon Valley to Seek Funding

WEST LAFAYETTE, Ind. & REDWOOD CITY, Calif.--(Business Wire)--
Representatives of two Purdue Research Park-based companies launched from
research developed at Purdue University will travel to California's Silicon
Valley on May 18 to make formal presentations to venture capitalists.

The companies, Intelliphage Inc. and Matrix-Bio Inc., were selected during an
economic development competition at the Company Fundraising Boot Camp held on
the Purdue campus at Discovery Park's Burton D. Morgan Center for
Entrepreneurship. The annual event, sponsored by Lonergan Partners, helps
entrepreneurs develop fundraising strategies for their companies. Purdue Provost
Randy Woodson, and Leah Jamieson, dean of the College of Engineering, will speak
in California, along with Mark Lonergan, founder and managing partner of
Lonergan Partners.

Intelliphage, founded by Purdue food sciences professor Bruce M. Applegate, has
created a method to detect and capture foodborne bacteria such as E. coli faster
and less expensively than technology currently used. A modified virus identifies
a bacterium's presence by turning it red or making it luminescent, allowing food
companies to detect potentially contaminated food before it goes to market.

"Venture capital provides biotechnology startups the time they need to turn
discoveries in the lab into products that save lives," said Brian P. Phillips,
CEO of Intelliphage. "The venture capitalists who fund Intelliphage will be
invaluable partners in accelerating the company's efforts to meet the urgent
market need for safer food and water through our breakthrough, simple-to-use,
quick and cost-effective pathogen detection technologies."

Matrix-Bio, founded by Purdue chemistry professor Daniel Raftery, has developed
"metabolite profiling" technology that can help improve early cancer diagnosis.
Researchers analyze multiple metabolite biomarkers present in blood and urine.
By detecting cancer at earlier stages, more treatment options can be considered,
thus increasing the probability of successful interventions.

"Venture capital firms play a very important role in commercialization of new
discoveries for companies like Matrix-Bio," said CEO Oscar Moralez. "A solid
venture capital firm will bring capital, industry and management experience, and
strategic relationships. They will be actively engaged with the company
throughout its continued development. These are invaluable resources that will
significantly improve the chance of success for Matrix-Bio."

Purdue Research Park
Steve Martin, 765-494-6872
sgmartin@prf.org

Copyright Business Wire 2009