PHILADELPHIA, May 13, 2004 (PRIMEZONE) -- Seven southeastern Pennsylvania technology companies have been awarded $1,675,000 for prototype and product development by Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP). Company profiles and investment information are outlined below. These companies now join Ben Franklin's portfolio of approximately 130 companies, representing more than $19 million currently invested in southeastern Pennsylvania.
Collages.net, Inc., Bucks County -- $250,000
Collages.net, Inc. developed and commercialized MyLabPartner.net, facilitating online image fulfillment and display services for professional photographers. BFTP/SEP's investment will be used for the development of MyLabPartner.net allowing photograph fulfillment directly through major U.S. color labs using the Internet. www.collages.net
CorePROFIT Solutions Inc., Chester County -- $225,000
CorePROFIT Solutions Inc. provides strategic value to banks and credit unions using the company's flagship product, PROFITwise Profitability Application (PPA). PPA develops comprehensive, accelerated, behavior-based profitability measurements. Ben Franklin funding will support the development of PPA's web portals and reporting enhancements. www.coreprofit.com
Digital Business Process, Philadelphia County -- $250,000
Digital Business Process provides front-end software and hardware to business professionals to facilitate the digitization of expense receipts, and automatic creation and organization of expense reports through those receipts. Ben Franklin funding will improve the current product as well as develop a second version. The company received a previous investment of $100,000 in March 2003. www.neatreceipts.com
mCom Financial Solutions, Philadelphia County -- $250,000
mCom offers the Darwin Solution Set, a suite of modular software solutions built upon a common, unifying framework, that enable banks and other financial service providers to more effectively manage the branding, content, and transaction data that they retrieve and publish via their various retail banking delivery channels. mCom's goals for this project are to design and develop the framework of the Darwin Solution Set, thereby leveraging the existing channel-centric modules and linking them into an effective multi-channel environment. www.mcomfs.com
Protez Pharmaceuticals, Inc., Chester County -- $300,000
Protez Pharmaceuticals develops novel antibacterial drugs to treat infections. The company is developing intravenous and small oral antibacterial molecules for specific medical needs in the hospital market. BFTP/SEP's investment will support the compound optimization activities of the program.
Queplix Corp., Philadelphia County -- $150,000
Queplix Corp. develops QueWeb(tm), next-generation front-office software that addresses an enterprise's need to deploy effective business applications in a short period of time. The goal of this project is to make product enhancements and expand sales and marketing resources. www.queplix.com
TheraQuest Biosciences, LLC, Montgomery County -- $250,000
TheraQuest Biosciences, LLC develops specialty pharmaceuticals concentrating on analgesic pain medications. Ben Franklin funding will be used for pharmaceutical development of an abuse resistant, sustained release formulation of TQ-1015, a once-a-day oral sustained release opioid for the treatment of chronic pain, and complete a Phase I pilot bioavailability study. www.theraquestinc.com
Since 1982, Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) has helped grow the region through science, technology and entrepreneurship. Ben Franklin provides entrepreneurs and established businesses the capital, talent, and expertise they need to compete in the global marketplace. Like its namesake, Ben Franklin invests in, builds upon and delivers solutions that grow communities and create wealth by supporting today's technological ideas and tomorrow's scientific discovery.
For more information: www.sep.benfranklin.org