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Medtech Biomaterials Leader Polymer Technology Group (PTG) Spins Out Life Sciences Incubator: Emergence LLC

Posted on: Tuesday, 25 September 2007, 09:00 CDT

Polymer Technology Group (PTG) (www.polymertech.com), a preeminent biomaterials company serving the medical device industry, announced today that it has spun-off a life sciences incubator, Emergence LLC (www.emergence.com). Emergence will have access to PTG's world-class staff and state-of-the-art facilities for synthesis, characterization, processing, regulatory approval and manufacturing of new polymer products and device components. Emergence will conduct its business within PTG's 53,000-square-feet facilities in the Temescal Business Park of Berkeley, Calif.

Robert S. (Bob) Ward, Founder, President and CEO of PTG, said, "The mission of Emergence is to identify cutting-edge technology around the globe, out of which Emergence will create life science companies. PTG will serve as a reservoir of human and technical resources for Emergence and these emerging companies. In short, Emergence will permit PTG to participate beginning at the early stage in the evolution of these portfolio companies."

"PTG has developed an entirely new generation of biomaterials and has thus been a leading catalyst in the advancement of remarkable medical devices that are significantly benefiting mankind," said George Pitarra, President of Emergence and PTG's Chief Financial Officer. "PTG will lend this wealth of technical and human assets to Emergence and its emerging companies, as well as invest capital in these ventures and, when necessary, assist in finding outside investors. With PTG's help, Emergence can lead its portfolio of companies through various stages, from R&D through sales and marketing."

Polymer Technology Group (PTG) was co-founded in 1989 by Robert S. (Bob) Ward, who is a recognized pioneer in the field of biomaterials and the Company's CEO. PTG specializes in the research, development, design, scale-up, and manufacture of new polymers, medical devices, and components. PTG's commercial product portfolio also includes two of the world's most extensively tested biomaterials in clinical use today, BioSpan® segmented polyurethane and Bionate® polycarbonate urethane. In addition, PTG offers custom-fabricated components from its patented PurSil® silicone polyether urethane and CarboSil® silicone polycarbonate urethane. PTG's recently expanded operations to 53,000-square-feet comprise the equipment and expertise to support production-scale polymer synthesis through contract medical device manufacturing.

Source: Business Wire

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