Advantage Capital Partners Continues Commitment to Pasteuria Bioscience
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Florida bioscience company receives venture capital financing on heals of EPA approval ALACHUA, Fla.--(Business Wire)-- Advantage Capital Partners, a leading venture capital and small business finance firm has announced $500,000 in financing commitments to fund continued operations at Pasteuria Bioscience, Inc., a biotechnology company which produces nematode control products. This marks the tenth year Advantage Capital Partners has provided financing to the firm, which originally started as Entomos, Inc., and is now operating out of the University of Florida`s Sid Martin Biotechnology Incubator. "Advantage Capital Partners has a commitment to innovative products and scientific solutions, and we are proud of our continued involvement with this exciting technology that will have a tremendous impact on the agricultural industry," said Tim Cockshutt, managing director with Advantage Capital Partners in Austin. Funding is provided through the Florida Certified Capital Company program, which serves to strengthen state economies by stimulating the flow of financial capital to early stage and expanding small businesses. Nematodes, or parasitic roundworms, cause an estimated $100 billion annually in worldwide crop damage, making it agriculture`s largest unmet pest control need. Pasteuria Bioscience has plans to commercialize new biological and natural solutions that kill the harmful pests by taking a natural organism out of the soil in order to safely eliminate nematodes. The company recently reached a major milestone, receiving EPA approval for the Nematode Control agent. "We are now moving full steam ahead to bring this product to market," said David Duncan, CEO of Pasteuria Bioscience. "The Florida Certified Capital Company program and Advantage Capital`s extraordinary patience and continued support will enable our company to have a tremendous positive impact on national and international agricultural production, with immediate solutions for Florida`s golf courses and sod farms." University of Florida Vice President of Technology David Day praised Pasteuria Bioscience for its long-term commitment to the bioscience industry. "Pasteuria Bioscience is one of the shining stars of our technology incubator. Continued financing and EPA approval are critical for this product to move into the marketplace. There is a long pipeline of opportunities for this company and for this technology." About Advantage Capital Partners Advantage Capital Partners (www.advantagecap.com) is a leading venture capital and small business finance firm focused on early stage companies and other investments supporting state and local economic development efforts. With offices in Miami, New Orleans, St. Louis, Austin and other U.S. cities, Advantage has raised more than $1 billion since 1992 and invested in companies located in geographic areas underserved by traditional venture capital. Advantage Capital Partners Dana Minaudo, 314-725-0800 dminaudo@advantagecap.com Copyright Business Wire 2009
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