ClearMed Investment

NCIC CapitalFund recently made an investment in ClearMedical, Inc. a Bellevue, Washington-based company that specializes in reprocessing non-invasive medical devises for the health care industry.  As a result of the financing, ClearMed will open its second regional reprocessing center, this one to be located in the Dayton area, in July.  

ClearMed has received $7.2 million in venture capital led by Integra Ventures, a Seattle life-science venture capital firm.  The NCIC CapitalFund investment was part of the Dayton Investment Network syndicate, which includes the Entrepreneur’s Fund and the Miami Valley Venture Fund II.  

ClearMed uses a high level proprietary disinfecting process on Class I and Class II medical devises.  This unique process is ISO 9001 certified and fully compliant with the guidelines of the Food Drug Administration and the Centers for Disease Control.

The company was founded in 1969 as a manufacturer of disinfectant equipment for the health care industry.  ClearMed amended its business model in1997 to one that provides processing services.  Unlike larger competitors that use a sterilization technique, ClearMed relies solely on pasteurization and, therefore, cleans only those non-invasive devices that come in contact with the skin.  

Since 1995 NCIC CapitalFund has made 55 rounds of investment in 29 companies totaling $15 million.  

Cohesia Corporation, a developer of advanced intelligent document solutions headquartered in downtown Dayton , announced the receipt of a Phase II contract from Cincinnati-based GE Aircraft Engines.   

During Phase I, the focus of the program was the application of Cohesia’s web-based MASS® system to the First Article Inspection (FAI) process for GE’s jet engine components.  MASS® is Cohesia’s Management & Application of Specifications & Standards system which provides electronic, web-based capability for the interpretation, distribution, and management of data for complex engineered products.  GE Aircraft Engines will employ MASS® to generate Master Specifications™ for use throughout its supply chain and with production component suppliers worldwide.   

"We are pleased for the opportunity to continue our relationship with GE," said Dan Z. Sokol, Cohesia President and CEO.  "After application to the First Article Inspection process, follow-on efforts will push MASS® upstream as an integral part of the design and new product introduction processes as well as the key mechanism for on-going characteristic accountability in the manufacturing process."  

NCIC CapitalFund was the first venture fund to invest in Cohesia in 1996 and has made two additional investments since that time.  

ED/GE COMMITTEE APPROVES $7 MILLION IN ECONOMIC DEVELOPMENT GRANTS

Montgomery County 's Economic Development/Government Equity Advisory Committee approved $7 million in economic development grants, including $5 million for a new I-75 interchange at Austin Pike, during its the Spring funding cycle.  

NCIC President Frank Winslow, who serves as a community representative on the committee, said that the County's commitment to the I-75/Austin Road interchange was critical in moving this project forward as well as helping to gain final state approval for the project.  

In addition, 10 other projects totaling over $2 million were approved for funding.  These include:  

·        $295,000 to Moto Franchise Corporation for renovations at its Trotwood headquarters.  

·        $250,000 to provide site improvements to a building in the Miami Valley Research Park for the Air Force Institute of Technology.  

·        $180,000 for Eurand, a Vandalia pharmaceutical company, to build a production facility for its quick-dissolve technology.  

·        $125,000 for building improvements at Stanhope Desiccant plant in Brookville.  

·        $100,000 for renovations at Dayton Polymeric Products.  

·        $210,000 for the Mound in Miamisburg to decentralize its utilities in order to convert former Government buildings into commercial office space.  

·        $400,000 to extend Founders Drive in the Kettering portion of the Miami Valley Research Park .  

·        $250,000 to help CityWide Development Corporation purchase a building connected to the Arcade .  

·        $150,000 to assist the Dayton Rehabilitation Institute establish a 50-bed acute rehabilitation hospital at Elizabeth Place .  

The next ED/GE funding cycle will occur in November 2003.

 INNOVEST 2003

Innovest 2003 was held on May 5 and 6 at the Hyatt Regency in Columbus , Ohio .  NCIC’s Vice President Bob Bowman participated in the event that featured presentations by thirty companies seeking funding.  This year represented the nineteenth annual conference touted as Ohio ’s Premier Venture Capital event.   

Highlighting this year’s conference were two well-known featured speakers – Mark Heesen, President of the National Venture Capital Association and Kenneth Wilcox, President and Chief Executive Officer of Silicon Valley Bancshares and Silicon Valley Bank.  Each made luncheon speeches during the two-day event.   

Next year’s conference, scheduled for May 13 and 14, 2004, will be held in Cincinnati.

THE 19TH ANNUAL WASHINGTON , D.C. "FLY-IN" LARGEST EVER  

The 19^th annual Dayton community leader trip to Washington, where area projects are lobbied to elected officials, was the largest ever with over 85 political, civic and business leaders making the two-day trip.  

The group, organized by the Dayton Development Coalition, made its largest request in 19 years, both in individual projects, as well as funding.  Leading the list of requests were programs at WPAFB, where projects totaling $130 million were presented to the local congressional delegation.  

The group laid the groundwork for advocacy on behalf of WPAFB as the process for implementation of the 2005 round of Base Realignment and Closure Act begins in earnest.  

Frank Winslow, who co-chaired the first "Fly-In" when the trip was organized by the Dayton Area Chamber of Commerce, said that this year’s trip was not only well attended, but focused on the key priorities both at WPAFB and the broader economic development needs of the community.  

The group made visits to the Pentagon, the Veterans Administration and the Congress.  In addition to meeting with DOD and Air Force Leaders, the group met with Congressmen Turner, Hobson, Portman, Oxley and Boehner, as well as Senators Voinovich and DeWine.  

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