News Article

The Pittsburgh Life Sciences Greenhouse Invests $150,000 in Celsense, Inc.
Date: May 24, 2007
Author: press release
Source: PR Newswire ( click here to go to the source)

Featured firm in this article: Celsense Inc of Pittsburgh, PA

PITTSBURGH, May 24 /PRNewswire/ -- Celsense Inc. and the Pittsburgh
Life Sciences Greenhouse (PLSG), the private/public partnership putting the
region's life sciences industry on a fast track for growth, announced that
PLSG has committed a $150,000 investment to Celsense Inc.
The investment will be used to help the company further the
commercialization of Cell Sense, its flagship product. Cell Sense is an MRI
tracer agent that labels cells in culture. When labeled cells are
transferred to a living subject, the transplanted cell can be imaged in
their anatomical context using MRI. Cell Sense is used to track, in
real-time, the delivery, migration, duration and quantity of transplanted
cells in vivo.
"Cell Sense is a powerful tool that will accelerate the development of
new therapeutics for a large number of diseases and conditions," said
Charlie O'Hanlon, President and Chief Executive Officer of Celsense. "We
are delighted to have the PLSG as an investor, and have benefited greatly
from the other support services offered by the PLSG."
"The Cell Sense technology shows a great deal of promise in the
facilitation of therapies for many diseases," said John W. Manzetti, PLSG's
President & Chief Executive Officer. "The investment that the PLSG is
committing today will help accelerate and improve the work of many
researchers so that they in turn, can more effectively work to support
doctors' efforts to improve the lives of patients."
About the Pittsburgh Life Sciences Greenhouse (PLSG)
The PLSG invests in and supports the growth of biosciences companies in
Southwestern Pennsylvania. PLSG has investment and business growth programs
to increase the linkage between research, technology and commercialization;
nurture and develop entrepreneurial biosciences enterprises; grow the
region's talent pool in the life sciences; and help biosciences firms
locate, expand or start-up in the Greater Pittsburgh region.
About Celsense
Celsense was founded in 2005 to commercialize imaging platforms
licensed exclusively from Carnegie Mellon University. Located in
Pittsburgh, Celsense offers products and services that allow scientists and
clinicians to monitor the position and quantity of transplanted cells
non-invasively using MRI. The company's mission is to establish Celsense as
the imaging standard for transplanted cells in human health. The company's
products and services have application in regenerative medicine,
immunotherapy, monitoring inflammation, and gene expression.

SOURCE Pittsburgh Life Sciences Greenhouse