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02.10.05
COLUMBIA, SC - Ometric Corporation (www.ometric.com) announced today that it has received an initial investment of $250,000 from The Trelys Funds to pursue feasibility studies with several industry-leading customers and intends to raise additional capital as required to support further growth.
Founded in August of 2004, Ometric is commercializing the optical spectroscopy research of Michael Myrick, an Associate Professor of the University of South Carolina and the Associate Director of the USC Nanocenter. Ometric has obtained the exclusive, worldwide rights from the USC Research Foundation for multiple patents authored by Professor Myrick and his colleagues. The patents are the result of more than ten years of study and $5 million in government-sponsored research conducted at the university. Ometric is the first venture-backed company to have ever secured a patent license from the University of South Carolina.
According to Ometric CEO Jason Williamson, "More and more companies are realizing that optical spectroscopy can solve real-world problems, from monitoring an individual's glucose level to controlling chemical manufacturing processes. Until now, these applications have been limited by the cost, size and complexity of the measurement devices. Our patented Multivariate Optical Element technology enables application-specific measurements using sensors that are small, rugged, and as accurate as optical spectrometers used in the lab today."
Robert Fletcher, a principal of The Trelys Funds, led the investment effort for the firm and joined the board of Ometric. He says, "We were impressed by the comprehensiveness of Ometric's patent portfolio and by the number of industry-leading companies expressing interest in Professor Myrick's research. Trelys is pleased to help transfer this unique technology out of the labs at USC and look forward to working with Ometric's talented team."
About Ometric Corporation
Ometric Corporation designs and fabricates optical computing components. Leveraging the world-wide patent rights acquired from the University of South Carolina Research Foundation, Ometric is helping companies bring the power of optical spectroscopy out of the lab to solve real-world problems. Ometric is a portfolio company of The Trelys Funds. For more information, see www.ometric.com.
About The Trelys Funds
The Trelys Funds is South Carolina's largest and most active early-stage venture capital firm. Providing both risk capital and experienced counsel, Trelys invests in emerging-growth companies in South Carolina and the surrounding region. The founding investors in Trelys include BlueCross BlueShield of South Carolina, BB&T Corporation, Carolina First Bank, First Citizens Bank, the Clemson University Foundation, and the Medical University of South Carolina Foundation. The current portfolio companies of Trelys include Biolex, Champion Communications, iOnosphere, Metabolon, Ometric, Stemco Biomedical, TriVirix, and Unitrends Software. For more information, see www.trelys.com.
© the trelys funds
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