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CS-Keys Garners Investment From Triathlon Medical Ventures; Company Continues Its Quest to Slash Breast Cancer Mortality Rates and Improve Quality of Life for Patients

Posted on: Monday, 17 July 2006, 09:01 CDT

CS-Keys, Inc. (CS-Keys) announced today a significant seed investment in the company by Midwest-based Triathlon Medical Ventures (Triathlon). CS-Keys has developed a new diagnostic tool that can help detect cancer in its earliest stages, with an initial focus on breast cancer.

CS-Keys will use the investment to support continuing research and development of its novel biomarker, which has been shown to be highly effective in identifying malignant cells. It will also be used to support the refinement of the marketing and regulatory strategies for the company.

"This investment will help CS-Keys continue its effort into getting a quick, easy and highly effective diagnostic tool into the hands of physicians," said Claire Deselle, CEO of CS-Keys. "It's a long journey to get a product to market, and we are grateful for the investment and the involvement that we will have from Triathlon. Their expertise in biomedical investing will serve us well."

Carrie Bates and John Rice, both managing partners of Triathlon, will sit on the Board of Directors for CS-Keys. They join Dr. Linda Malkas and Dr. Lauren Schnaper, who represent the two of the initial four founders, and David Johnson of BioCrossroads.

"Triathlon typically focuses on early stage investments," said Carrie Bates. "So for us to invest in CS-Keys at a seed stage demonstrates the confidence we have that this new technology will fulfill a critical need in the market. This decision was driven by the exciting research and resulting discoveries, combined with the exceptional CS-Keys team."

Earlier this year, CS-Keys received a $285,000 investment from the BioCrossroads-managed Indiana Seed Fund. The investment allowed the company to complete several key scientific and business milestones and enabled the company to attract this investment from Triathlon. Triathlon is also part of the $73 million Indiana Future Fund, a fund-of-funds organized through BioCrossroads, focused on early-stage Indiana life sciences investment opportunities. This is Triathlon's third investment in Indiana and represents the sixth Indiana Future Fund investment.

"The technology we have developed allows us to look for cancer in the smallest detectable amounts - the equivalent of singling out one chair in a huge football stadium," said CS-Keys co-founder Dr. Robert Hickey. "We are excited about the future development of this company."

About CS-Keys:

Formed in February 2005, CS-Keys, Inc. is creating cancer-specific biomarkers using advanced protein chemistry technologies (proteomics). The company is developing a new series of diagnostics to detect the occurrence or re-occurrence of cancer leading to more effective individualized treatment strategies for primary and metastatic disease, with an initial focus on breast cancer.

About Triathlon Medical Ventures:

Triathlon Medical Ventures is a Midwest-based venture capital firm that invests exclusively in the life sciences. Triathlon provides equity capital to early and expansion stage companies with proprietary biomedical technology platforms or products addressing significant human healthcare needs. The firm is focused on early stage opportunities in the Midwest but will also invest in later stage companies nationwide. Headquartered in Cincinnati, Triathlon also has offices and partners in Indianapolis, Louisville and St. Louis.

Source: Business Wire

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