PITTSBURGH, July 15, 2013 /PRNewswire/ -- The Pittsburgh Life Sciences Greenhouse (PLSG), the region's only pure life sciences investment firm, and managing member of the PLSG Accelerator Fund, announced today that it closed seven investments totaling more than $315,000 in the first half of 2013. The investments demonstrate continued commitment to the Western Pennsylvania region and the life sciences industry.
Three participating companies, Wellbridge Health, PHRQL Inc. and NewCare Solutions, are in the growing Healthcare Information Technology (HIT) segment and are first-time investments for PLSG. Follow-on investment companies that PLSG has remained committed and active with include Alung Technologies Inc., ATRP Solutions, MS2 Array LLC. and Quantum Ops.
"These modest, but important investments were very timely for the companies and were carefully chosen as the PLSG keeps its focus on organizations that offer the best chance for success and investment returns," said John Manzetti, PLSG President and CEO. "The demand for capital from both the PLSG and PLSG Accelerator Fund continues to grow and is now more than six times our capital available to invest. We will return to our more robust levels of investing when our current portfolio companies begin to exit."
For more information about the PLSG, visit www.plsg.com or call 412-201-7370.
About Pittsburgh Life Sciences Greenhouse (PLSG) (www.plsg.com)
The PLSG invests in and supports the growth of biosciences companies in western Pennsylvania. PLSG has a track record of excellence when it comes to attracting and growing life sciences companies in the region. Since PLSG began operation in 2002, it has assisted more than 400 life sciences companies and has helped create or retain nearly 6,000 jobs in
|SOURCE Pittsburgh Life Sciences Greenhouse|
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