Windber, PA , April 25, 2007– Pennsylvania is very successful at supporting start-up and early stage companies with funding through its various economic development organizations. This success is well recognized and has become a model that other states, and even countries, would like to emulate.

In recognition of this success Pennsylvania was asked by Canadian authorities to send a group to Toronto for BioFinance 2007, a major BioTech venture event in Canada. The purpose of the trip was for the PA group to participate in a panel discussion called “VC Financing for Life Sciences Companies: The Pennsylvania Model”.

Jay McClatchey, CEO of AppCompTech, was asked to represent the many companies seeking financing for start-up and early stage ventures in Pennsylvania. AppCompTech has been very successful at raising capital through various state funded organizations and is very familiar with the programs from a company perspective.

The panel moderator was Jeffrey Libson, Partner – Pepper Hamilton LLP
Panelists were:

     Dean E. Miller, Partner – PA Early Stage
     Jay McClatchey, CEO – Applied Computational Technologies
     Alan West, Executive in Residence – Pittsburgh Life Sciences Greenhouse
     John Sider, Director of Venture Investment – Government of Pennsylvania