SC Launch invests in 3 S.C. companies

Staff Report
Published May 9, 2011

Greenville-based Dannar, Columbia-based Senex Biotechnology and Charleston-based Madeira Therapeutics will each receive SC Launch funds after winning approval from the SC Launch board of directors.

Based in Greenville, and developed by Gary Dannar, Dannar’s technology offers hybrid/battery-electric systems to reduce emissions in transportation vehicles. The Dannar Mobile PowerStation is an original equipment manufacturer of purpose-built vehicles for the government roadside and right-of-way management market.

A company formed by Igor Roninson, recently named to an endowed chair at the University of South Carolina, and Lawrence Friedhoff, Senex Biotechnology develops therapies for the treatment of major diseases. Target technologies include the treatment of cancer, viral diseases and age-related diseases.

Madeira Therapeutics was founded to develop new pediatric drugs. Currently, the FDA does not run separate clinical trials for pediatric applications. Doctors simply apply adult-approved drugs at smaller doses for children. Madeira Therapeutics strives to ensure drug safety and efficiency for intended pediatric patients.

“These companies are the latest in a series of quality companies that are growing from the SC Launch program and furthering South Carolina’s knowledge economy,” said SCRA CEO Bill Mahoney.

Maderia will receive its funds in a ceremony this week at InnoVenture Southeast. The conference, in its fifth year, will showcase technology companies from the Southeast to a national audience of hundreds of private equity professionals and venture capitalists that represent more than $80 billion in private equity investment capital.

Since its creation by SCRA in 2006, and with initial funding of $12 million in SCRA earnings, SC Launch has supported and funded 188 companies in S.C., provided business services to 230 early stage companies in S.C. through a resource network and helped position emerging South Carolina companies to secure more than $104 million in follow-on funding from angel, venture and other private capital sources. SC Launch has been recognized regionally, nationally and internationally for leadership in entrepreneurial support and technology-based economic development.

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