THREE CENTRAL KENTUCKY COMPANIES GRANTED FUNDING FROM CABINET’S HIGH-TECH INVESTMENT POOL

Recently at a meeting, the Kentucky Economic Development Finance Authority granted three Jefferson County companies a combined total of up to $891,000 in funding from the High-Tech Investment Pool administered by the Cabinet for Economic Development.

The projects will create a combined 43 full-time, high-tech jobs. "These three companies received grants for a wide range of new technologies, from biotech to content management software to Internet services, which demonstrates the tremendous diversity of innovation and entrepreneurship that exists within Kentucky’s high-tech community," said Economic Development Cabinet Secretary John Hindman. "The Cabinet is pleased to invest in such innovative and promising Kentucky companies."

Projects receiving funding, which are all clients of the Louisville Innovation and Commercialization Center, include:

• Advanced Genomic Technology, LLC – Louisville; Founded in 2005, Advance Genomic Technology is a biotechnology company that has developed a line of microRNA microarrays (MMChips) for the research and, ultimately, the medical diagnostic markets. MicroRNAs are genetic “dimmer switches” capable of suppressing gene expressions, serving to dim or shut down groups of target genes. MMChips will allow researchers to identify which microRNAs are present or absent in cells or tissues and to quantitatively assess the relative level of expression of their target genes without a large up-front investment in specialized detection equipment. Additionally, Advanced Genomic Technology will provide access to its microRNA target identification database as well as e-MMChip and e-microRNA analysis services on a fee-for-service basis.
  
  The funds, awarded in the amount of up to $153,000, will be used to purchase equipment necessary for further development and commercialization of MMChips, as well as for regulatory and certification costs associated with the production of a medical device.
  
  Advanced Genomic Technology anticipates creating 9 full-time, high-tech Kentucky-based jobs by December 31, 2010. Average annual salaries for these positions will be approximately $60,000, exclusive of benefits.
• Conexxus, LLC – Louisville; Founded in 2006, Conexxus is a software development company that provides information management and technology solutions for both public and private companies. Best classified in the Compliance Content Management marketplace, Conexxus’ patent pending solutions are unlike any other in the market. The initial software product is Conexxus One, an interactive, computer-based financial workflow automation and monitoring platform. The program allows users to define internal policies and eliminate paper from the finance department. Its second product offering, Conexxus OneX, adds an auditor’s documentation tool to the Conexxus One platform, enabling continuous auditing for manual processes and allowing auditors expedited access to evidence without interrupting operations. It is this continuous monitoring and auditing capability for manual internal controls and compliance processes that makes the Conexxus solution stand-out in the marketplace.
  
  The funds, awarded in the amount of up to $238,000, will be used to purchase hardware, software and other technology needed for further development and commercialization of Conexxus’ software solution as well as for costs related to securing i