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Multispectral Imaging Announces Exclusive Worldwide License
With Oak Ridge National Laboratory to Commercialize Breakthrough
Microcantilever Infrared Imaging Sensors NEWARK, NJ June 17, 2005 Multispectral Imaging Inc., (MII) a leader in the design and development of infrared imaging systems, today announced an exclusive worldwide license with Oak Ridge National Laboratory (ORNL) for its patents involving the use of microcantilever sensors for infrared imaging. The company is commercializing unique and proprietary technology that has the potential for radical improvements in both price and performance of uncooled infrared focal plane arrays. These devices are at the heart of key systems used in firefighting, preventive maintenance, homeland security, and military applications, with vast potential in consumer markets, such as driver vision enhancement as a safety feature in automobiles. “Infrared and thermal imaging systems save lives,” said Matt Miller, President and Chief Executive Officer of Multispectral Imaging. “Market growth and applications have been limited to date by the price and sensitivity of the sensors. The thermo-mechanical technology invented at Oak Ridge can be combined with industry-standard IC materials and manufacturing to crack the code for cost and performance.” “UT-Battelle is pleased to support the commercialization by Multispectral Imaging, Inc of this cutting edge technology. By working closely with our licensees, particularly earlystage companies, we believe we can enhance the prospects for successful commercialization of our technologies.” stated Russ Miller, Commercialization Manager for Biology and Environmental Sciences at Oak Ridge National Laboratory. MII recently closed a private financing, with participation from Rho Ventures, SAS Investors and The Spencer Trask Private Equity Funds. About Multispectral Imaging MII was founded in October 2003 to commercialize new technology for infrared cameras and imaging systems. Its products are based on microcantilever technology originally developed at Oak Ridge National Laboratory, for which MII has an exclusive worldwide commercial license. About ORNL ORNL is a multiprogram science and technology laboratory managed for the US Department of Energy by UT-Battelle, LLC. Scientists and engineers at ORNL conduct basic and applied research and development to create scientific knowledge and technological solutions that strengthen the nation’s leadership in key areas of science; increase the availability of clean, abundant energy; restore and protect the environment; and contribute to national security. ORNL also performs other work for the Department of Energy, including isotope production, information management, and technical program management, and provides research and technical assistance to other organizations. The laboratory is a program of DOE’s Oak Ridge Field Office. About Rho Ventures Rho Ventures is a venture capital firm with extensive investments in the healthcare, information technology and communication sectors. Since it was founded in 1981, the firm has invested in over 150 venture stage companies and helped build market leaders across many high growth industries. Previous investments include Active Power, Capstone Turbine, Ciena Corporation, Commerce One, Compaq Computer Corporation, Copper Mountain, Inc., Diversa Corporation, Human Genome Sciences, Inc., iVillage, Leukosite (currently part of Millenium Pharmaceuticals), MedImmune, Inc., NitroMed, Senomyx, Tercica, Tripod (currently part of Lycos) and Vicuron. About SAS Investors SAS Investors (formerly known as Silicon Alley Seed Investors) facilitates the creation and growth of seed- and early-stage core technology companies in the Mid-Atlantic and Northeast regions. Located in New York City and backed by Canaan Partners, Rho Capital Partners, and Sevin Rosen Funds, SAS Investors targets companies that provide solutions based on technologies emerging out of tech transfer centers, universities, and/or corporate labs. For more information, visit www.sasinvestors.com. About Spencer Trask Spencer Trask is a leading venture capital firm discovering ideas for the 21st century. With a network of co-investors and business leaders, Spencer Trask provides entrepreneurs with financial and intellectual capital to transform bright ideas into worldchanging companies. Spencer Trask invests in early stage and emerging growth companies in the communications, information technology and life sciences fields. Please visit their website at www.spencertrask.com. |
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Copyright ©2007 Rho Capital Partners, Inc.