MolecularWare Presents to Leading Venture
Capitalists At 'C21 Ventures' Conference in Monterey, Calif.
CAMBRIDGE, Mass. May 31, 2001 - MolecularWare Inc., an
emerging bioinformatics company, announced today that it has presented to
leading venture capitalists from around the country its strategy to
"revolutionize the backbone of drug discovery by bridging the gulf between
workflow management and knowledge management in the new age of digital
biology." The presentation was made at the `3rd Annual C21 Ventures:
Investing in a New Healthcare Paradigm' conference in Monterey, Calif.
C21 Ventures (formerly BioPartnering Ventures) provides an annual
retreat for leading technology experts, investors, and company executives to
meet informally to discuss the technology trends that are driving the
creation of new hybrid companies.
Richard P. Kivel, chief executive officer of MolecularWare, and Dr. Seth
A. Taylor, founder and president, introduced participants to the Company's
proprietary DigitalGENOME(TM) suite of software products and highlighted
recent company developments, including sales to the company's first
U.S.-based customer, The Whitehead Institute for Biomedical Research,
located at the Massachusetts Institute of Technology (MIT).
MolecularWare's DigitalGENOME(TM) suite of software products enables
effective management of the staggering flow of information from genomics-
and proteomics-related research. This patented technology allows scientists
to receive massive quantities of data from various heterogeneous
high-throughput instruments (such as liquid handling robots, microarraying
robots, and microarray scanners) that have traditionally been
next-to-impossible to capture automatically.
MolecularWare was founded to create a new bioinformatics paradigm that
effectively manages the transition of large amounts of information. The
Company's mission is to create software that forges a link between the
biotechnology researchers and the data generated from complex experiments
taking place around the world. Drug-discovery research represents the best
initial market for the Company's products due to recent adoption of
cutting-edge automated research hardware and the technical sophistication of
end-users. The subsequent integration of workflow management and knowledge
management made possible by MolecularWare will usher in a whole new era of
molecular medicine, as vast amounts of information gleaned from genomics
research is easily transformed into diagnostic strategies that predict and
MolecularWare is actively building multiple distribution channels and
selling its products through hardware vendors to accelerate market
penetration of its DigitalGENOME(TM) suite of products. In 1999, the
company's founder, Dr. Seth Taylor, was the recipient of the prestigious
"MIT $50K Entrepreneurship Competition Award." The Company's investors
include the venture-capital firm Aspen Investment Group.