Hemodyne, Inc. places first in early-stage
venture competition

Richmond, VA – Hemodyne, Inc. has been recognized as one of the most promising early-stage companies in the biosciences and health care industries by placing first in the ASM Resources, Inc. annual Early-Stage Venture Competition.

This competition recognizes start-up companies for their innovation and business viability and was held this year on May 6 in Washington, D.C.
“This is exciting because it’s our first public exposure as we begin a capital raise of $5 million, and it helps validate our strategy of building value into the company before seeking outside organized capital,” said Devinder Bawa, president and CEO of Hemodyne, Inc.

ASMR selected 21 start-up companies from across the United States on the basis of innovation and business viability to take part in the competition. A panel of judges, comprised of venture capitalists, leading entrepreneurs and executives from the state of Maryland venture fund, selected the winner based on market readiness, market potential and management team.

As a result of the win, ASMR will co-invest a minimum of $100,000 in Hemodyne’s next financing round, in concert with a lead venture investor. Hemodyne also will receive complimentary mentoring and expert service from ASMR’s seasoned industry of professionals, and a scientific due diligence analysis from the organization.

Hemodyne, Inc. is headquartered in the Virginia BioTechnology Research Park and was founded by Virginia Commonwealth University’s internationally recognized hematologist Marcus E. Carr Jr., M.D., Ph.D.

Hemodyne, Inc. has developed the Hemostasis Analysis System, a state-of-the-art rapid blood test that is unique in its ability to directly assess platelet health. HAS offers critical new information for physicians to better manage drug therapies for heart patients and hemophiliacs and to improve assessment and management of bleeding risk related to surgery, trauma and blood disorders. HAS also allows blood banks, for the first time, to economically gauge platelet viability. Recently launched in Europe for clinical and research customers, the system is now available in the United States for research use.

ASMR is the for-profit venture arm of the American Society for Microbiology and focuses on providing seed capital and expertise in financing and business development to support early-stage bioventures, as well as help in planning for growth.

Contact:

Nicky Colomb
Virginia BioTechnology Research Park
Phone: (804) 828-6884
E-mail: ncolomb@vabiotech.com
Web site: http://www.vabiotech.com

Devinder Bawa
Hemodyne, Inc.
Phone: (240) 350-1110
E-mail: devinder@Hemodyne.com
Web site: http://www.hemodyne.com