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Foundation Venture Capital Group, LLC Invests in Start Up Committed to Breast Cancer Diagnostics
Date:9/28/2007

NEW BRUNSWICK, N.J., Sept. 28 /PRNewswire-USNewswire/ -- James M. Golubieski, president of Foundation Venture Capital Group, LLC, announced today that the company has made a $500,000 commitment to CellXplore, Inc., a start-up company at the University of Medicine & Dentistry of New Jersey (UMDNJ) committed to breast cancer diagnostics.

Kiran Madura, Ph.D., chief scientific officer of CellXplore and professor in the Department of Biochemistry at UMDNJ-Robert Wood Johnson Medical School (RWJMS), founded the company.

CellXplore has identified several biomarkers that could help in the non- invasive diagnosis of breast cancer, using a biochemical analysis of blood samples to identify specific proteins found in those who have the disease. According to Dr. Madura, the eventual hope is that the strategy would not only be able to help diagnose breast and other cancers but might also be able to discriminate between different types and stages, which would be helpful in establishing targeted treatment plans for patients.

"While we are currently focusing on breast cancer biomarkers, in the future we will investigate whether blood sample biomarkers can also be identified for the early diagnosis of major, debilitating illnesses such as muscle wasting disease and neurodegenerative conditions including Alzheimer's and Parkinson's Disease," he explained.

George F. Heinrich, M.D., vice chair and CEO of Foundation Venture Capital Group, is enthusiastic about this new company and what the investment means for the University.

"Our investment in CellXplore reinforces our strong relationship with UMDNJ and our willingness to invest in companies that might not otherwise receive support at this early stage," said Dr. Heinrich. "Dr. Madura and his company are developing very promising technology that has great potential in the diagnosis of cancer and other devastating diseases."

Foundation Venture Capital Group was founded in 2006 to invest in commercially viable new start-up companies developing technology at the University of Medicine & Dentistry of New Jersey. CellXplore is its second investment within the past six months.


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SOURCE Foundation Venture Capital Group, LLC
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