Navigation Links
Pittsburgh Life Sciences Greenhouse Makes Significant Reductions Due to Uncertain Funding
Date:6/14/2013

PITTSBURGH, June 14, 2013 /PRNewswire/ -- The Pittsburgh Life Sciences Greenhouse (PLSG) today announced a reduction in staff and levels of investment that were necessitated by delays in portfolio company exits caused primarily by the current overall investment climate and the uncertainty of state funding.

PLSG President and CEO, John W. Manzetti said, "As the region's only pure life sciences investment firm, the actions taken this week, which were approved by the PLSG Board of Directors, were necessary to protect the future of both our base economic development activities and our investments in both the PLSG and PLSG Accelerator Fund companies.

"These actions will remove expenses related to community and company support and services but still enable us to focus on investments. As our strong portfolio of companies achieve their awaited exits, the PLSG will return to historic levels of annual investment. We have centered our focus on the PLSG's premier Executive Program and have protected our ability to invest modestly until these returns are realized.  Our experienced and highly-focused investment team remains passionate and committed to the growth of the region's important life sciences sector."

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 its inception in 2001, PLSG has assisted more than 400 life sciences companies and has helped create or retain nearly 6,000 jobs in western Pennsylvania. Thirty-four companies have been provided with office or laboratory space and 13 have been relocated to Pittsburgh from outside of the reg
'/>"/>

SOURCE Pittsburgh Life Sciences Greenhouse
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2

Related biology technology :

1. Pittsburgh Based ParentPlus Enters Collaboration with Vitrolife
2. The Pittsburgh Life Sciences Greenhouse Congratulates Dr. Paul L. Kornblith, M.D., on Being Named the 2013 recipient of the Schoemaker Award
3. Pittcon Announces the 2013 Pittsburgh Conference Memorial National College Grant Awardees
4. Pittsburghs Positive Investment Growth Bucks National Trends According to Ernst & Young and Innovation Works Report
5. Allegheny General Hospital Cardiovascular Institute Becomes Exclusive Pittsburgh Site for Study of Novel Coronary Artery Disease Device
6. Garage Start-ups Now Possible in Life Sciences Industry
7. Ambit Biosciences Names Michael A. Martino President and Chief Executive Officer
8. DiaTech Life Sciences Announces Medical Advisory Board
9. The Law Firm of Levi & Korsinsky, LLP Launches an Investigation Into Possible Securities Laws Violations by Pacific Biosciences of California, Inc.
10. Coronado Biosciences to Present at the Oppenheimer 22nd Annual Healthcare Conference
11. Coronado Biosciences Announces Phase 1 Results of CNDO-109 in AML to be Presented at the American Society of Hematology
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/13/2014)... and TAICHUNG, Taiwan (PRWEB) December 12, 2014 ... less rosy indicators in overall global economic growth, Eugene ... optics and photonics , said in a featured talk ... on 5 December at the National Chung Hsing University ... which is being integrated into future energy supplies and ...
(Date:12/13/2014)... Charlotte, NC (PRWEB) December 13, 2014 ... nearly 3 million people between now and 2030." If ... will become the seventh most populous state in the ... Commerce is gathering at the Future of North Carolina ... We Ready? Do we have the necessary infrastructure in ...
(Date:12/13/2014)... -- Vermillion, Inc. (NasdaqCM: VRML), a bio-analytical solutions company focused on ... G. H. Jordan , Ph.D., and David R. ... the total number of directors to eight, seven of ... , Chairman, President, and Chief Executive Officer of Vermillion, ... of Veronica and David to our board of directors.  ...
(Date:12/13/2014)... , Dec. 12, 2014  Vaccinex ... the discovery and development of therapeutic monoclonal ... today announced publication of a manuscript entitled ... inhibits remyelination in neurodegenerative disease" in the ... of Disease*.  The publication highlights an important ...
Breaking Biology Technology:Photonics Continues Upward Trends Despite Challenges in the Global Economy, Notes SPIE CEO 2Photonics Continues Upward Trends Despite Challenges in the Global Economy, Notes SPIE CEO 3Photonics Continues Upward Trends Despite Challenges in the Global Economy, Notes SPIE CEO 4Photonics Continues Upward Trends Despite Challenges in the Global Economy, Notes SPIE CEO 5North Carolina Chamber of Commerce: Asking Questions & Gathering Answers with a Futurist 2Vermillion Strengthens Board of Directors with Appointments of Veronica Jordan, Ph.D., and David Schreiber 2Vermillion Strengthens Board of Directors with Appointments of Veronica Jordan, Ph.D., and David Schreiber 3Vaccinex announces publication of preclinical studies with an anti-SEMA4D antibody in animal models of neuroinflammatory and demyelinating disease 2
... RedPrairie Corporation has completed its previously announced acquisition of ... expects to grow to 738 employees at 21 sites ... employees are from MARC. , ,Former MARC CEO Oliver ... organization, under RedPrairie company leader John Jazwiec. , ,"The ...
... an Oracle-based e-mail installation and trying to recover $2.1 ... pilot program that lasted for at least six months ... difficulties cropped up. , ,State CIO Matt Miszewski and ... letter to state agency heads on Friday that the ...
... Amazon.com said on Monday it is acquiring Shopbop, a Madison-based ... up in 1999 as a store on Gorham street called ... as a standalone operation after the acquisition, but Amazon.com will ... not disclosed. With the acquisition, Amazon boosts its selection of ...
Cached Biology Technology:Oracle out, Microsoft in for state e-mail project 2
(Date:11/21/2014)... Strict laws against distracted driving and the ... American and European automotive sector towards gesture recognition technologies. ... that are intuitive and able to retrieve information with ... New analysis from Frost & Sullivan,s Strategic ... Europe and North America ...
(Date:11/18/2014)... , Nov. 18, 2014  The Secure Identity ... Association today jointly announce the formation of The ... of its Identity and Biometric Entry and ... Framework received official support from BORDERPOL, the international ... improve and provide expertise regarding border security, traveler ...
(Date:11/18/2014)... , Nov. 18, 2014   EyeLock Inc. ... solutions, and MorphoTrust USA (Safran), a ... today announced a strategic partnership to offer comprehensive ... vehicle administration (MVA), airport screening and financial services ... solutions, MorphoTrust serves consumers through a nationwide network ...
Breaking Biology News(10 mins):Gesture Recognition Intensifies with the Rise of In-car Smartphone Integration, Says Frost & Sullivan 2Gesture Recognition Intensifies with the Rise of In-car Smartphone Integration, Says Frost & Sullivan 3Gesture Recognition Intensifies with the Rise of In-car Smartphone Integration, Says Frost & Sullivan 4Identity Management, Document Authentication and Biometric Companies Form "The Airport Entry and Exit Working Group", Releasing the Framework to Help Guide the Department of Homeland Security and Congress Towards Solutions 2Identity Management, Document Authentication and Biometric Companies Form "The Airport Entry and Exit Working Group", Releasing the Framework to Help Guide the Department of Homeland Security and Congress Towards Solutions 3EyeLock, MorphoTrust Form Strategic Partnership to Pursue Commercial Enterprise Deployments 2EyeLock, MorphoTrust Form Strategic Partnership to Pursue Commercial Enterprise Deployments 3
... SALT LAKE CITY , July 26 Wall Street ... a world leader in content identification solutions, to provide public relations ... in broadcast, government, and professional video trade press worldwide. , ... iPharro Media, based ...
... atmospheric composition, and hence climate. Projections of future climate ... more CO 2 is released from soils in ... due to photosynthesis. Climate changes will also lead to ... methane from wetlands, nitrous oxides from soils, volatile organic ...
... COLUMBUS, Ohio -- Researchers have long known that humans lack ... animal kingdom and even plants -- that reverses severe sun ... this enzyme works at the atomic level to repair sun-damaged ... and skin cancer prevention. In the early online edition ...
Cached Biology News:Wall Street Communications Retained by iPharro Media 2Unaccounted feedbacks from climate-induced ecosystem changes may increase future climate warming 2Researchers discover how key enzyme repairs sun-damaged DNA 2