State of Texas ETF Award Announcement

Gov. Perry Announces Emerging Tech Fund Investments In Cormedics and Others

Friday, October 03, 2008 • Press Release

AUSTIN – Gov. Rick Perry today announced the state will invest $250,000 each through the Texas Emerging Technology Fund (TETF) in BetaBatt Inc., Cormedics Corp. and Sunrise Ridge Algae Inc. for the research, development and commercialization of their innovative technologies.

“Continued investment in emerging technologies is essential to maintaining a strong position in an increasingly competitive economy,” Gov. Perry said. “These investments will help push Texas to the forefront of energy innovation and biomedical science.”

Cormedics’ novel whole-heart therapies range from emergency access to delivery of electrophysiology and echocardiography devices and delivery of medications to the heart. The company developed a minimally-invasive instrument that provides safe access to the pericardial space which surrounds the heart while avoiding injury to the heart. The company’s technology partners include the Texas Heart Institute and Fairway Medical Technologies.

For more information on the TETF, please visit http://www.emergingtechfund.com

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