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MEDIA CONTACTS:
Innovation Ventures, L.P.
Stacey Blackwell
Operations Manager
302-777-1616
717-397-2279
sblackwell@innovationcapital.com
Maxion Technologies, Inc.
301-699-0232
info@maxion.com
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INNOVATION VENTURES INVESTS IN COPD PARTNERS
Wilmington, DE,
March
20, 2007
-- Innovation Ventures, LP, with
offices in Wilmington, DE and Lancaster, PA is pleased
to announce an investment in
COPD Partners, an early stage
innovative respiratory device company
located outside of Pittsburgh.
Innovation Ventures participated in the series A-1 round
along with Draper Triangle Ventures and Birchmere
Ventures.
“The technologies developed by COPD Partners
are
groundbreaking and allow COPD patients to live with a
greater quality of life via enhanced mobility and oxygen
saturations”
said David Freschman, Managing Principal of Innovation
Ventures. Ned Renzi of Birchmere Ventures adds “It’s
been very exciting to see the progress of the company to
date and we are looking forward to improving the lives
of COPD patients and the economics of the market.”
Commenting on the financing, Dan Easley, President and
CEO of the company said, “We are very pleased with the
addition of Draper and the Innovation Ventures to the
team, along with Birchmere Ventures. Each brings
outstanding experience and insight as a result of their
successes in home care technologies and early stage
innovation development. The company is looking forward
to tapping these resources as it introduces its
technology and ramps up its growth.”
COPD Partners is a medical device company that is
preparing to introduce a unique oxygen liquefaction and
patient delivery technology that will establish a new
standard of home respiratory care for chronic
obstructive pulmonary disease patients (COPD). The COPD
oxygen therapy market is comprised of 1.5 million
individuals growing to 3.8 million patients by 2015.
This dramatic growth, making COPD the fastest growing
“large” disease is fueled by the aging “baby boomer”
demographic and the incidence of smoking within that
population. This population of new patients will to
require therapy solutions that enable them to restore
their activity levels and improve disease management.
About Innovation Ventures, L.P.
Innovation Ventures, LP (IV) is an SBIC venture capital
fund headquartered in Wilmington, DE and with offices in
Lancaster, PA. IV is focused on growth and early-stage
investments in the areas of chemicals and materials;
electronic materials and devices; information
technology; nanotechnology; software; biotechnology
(excluding human therapeutics); and business information
services related to the legal, financial services and
manufacturing industries. Innovation Ventures invests
$250,000 to $1 million in early and growth stage
companies primarily located in the Mid-Atlantic region.
The Innovation Ventures, LP website can be found at
www.innovationventures.com.
About
COPD Partners
COPD Partners is focused on improving the patient’s
ability to maintain their oxygen saturations by
developing lightweight, small and easy to carry liquid
oxygen systems for home oxygen therapy. COPD Partners’
innovative technology enables home oxygen providers to
offer patients liquid oxygen, without the cost of weekly
deliveries. The system comprises a device that generates
and stores a daily supply of liquid oxygen and a
lightweight, long duration patient device for ambulatory
use. The proprietary “SmartDose” delivery algorithm is
the first device to sense the patient’s respiratory
parameters and supplement the dose to improve the
patient’s blood gas saturations, especially during
exercise, a key to improving patient outcomes.
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