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Open Prairie Ventures Invests in Venomix
Written by Administrator
Tuesday, 03 June 2008 05:00
EFFINGHAM, Ill. and KALAMAZOO, Mich., June 3 – Open Prairie Ventures II, LP has made a Series A investment in Venomix, Inc., the companies announced today. Open Prairie Ventures II will receive a seat on the Venomix board. This is the first investment for Open Prairie Ventures II. The investment is the second in Venomix's first round of venture financing. Venomix is developing proprietary, new pesticides based on peptides found in spider venom. The amount of the investment was not disclosed.
Open Prairie's Managing Partner J.M. "Jim" Schultz said, "Venomix is an excellent fit with our investment profile. We look for early-stage companies with market changing technology. Venomix fits that description perfectly."
John L. McIntyre, Ph.D., president and chief executive officer of Venomix said, "We are delighted to have Open Prairie as an investor. They have a great deal of experience with early-stage companies which will be helpful to us as we advance our technology and grow."
Open Prairie Ventures is an early-stage venture capital firm investing in promising life science, wireless communication and information technology companies. Open Prairie applies both its capital and team's expertise to focus on companies with efficient capital usage and disruptive technologies. With offices in Illinois and Kansas City, Open Prairie's national reach and unique access to investment opportunities throughout the Midwest region allow the firm to build a diverse portfolio of growth technology companies. For more information, visit http://www.openprairie.com.
Venomix is developing a new generation of insecticides using peptides from spiders. The company's technology is based on ground-breaking research conducted at the University of Connecticut. Over 50 unique, spider-venom peptides have been identified. This patented technology is exclusively licensed to Venomix. Products under development have a unique mode of action, are highly effective against insects and related pests and are harmless to non-target species, including humans. Target markets include agriculture, animal health and specialty non-crop uses such as household insects. Venomix products will be ideally suited for the environmentally conscious twenty-first century. http://venomix.net
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