[March 29, 2011]

Intelliject Receives VA Healthcare Innovator Medical Device Award

Nearly 250 community leaders from across the state participated in the first Virginia Healthcare Innovators Awards event today at the Lewis Ginter Botanical Gardens in Richmond, Virginia. The awards honor Virginia organizations that have developed innovative ways to improve healthcare quality and efficiency. The Virginia Biotechnology Association (VaBIO), along with many other prominent organizations, sponsored the awards. Mark A. Herzog, executive director of VaBIO, presented the award for the Medical Product or Device category to honor companies involved in the development, manufacture or distribution of medical products or devices (e.g., pharmaceuticals, biologicals, implantable devices, medical equipment, etc.).

Intelliject, a Richmond-based specialty pharmaceutical company that has developed a credit card-sized, novel epinephrine auto-injector, won top honors for the Medical Product or Device category.

"Intelliject is honored to receive the Medical Product Virginia Healthcare Innovators Award," said Intelliject's CEO Spencer Williamson. "Our vision is to empower patients with drug/device combination products providing greater control and freedom from their medical conditions. By placing the patient at the center of all our product pipeline development, we strive to bring forward combo products that are demonstrably superior for patients, providers and payers. Intelliject's lead product for severe allergy patients is currently under FDA review."

"The program committee included an award for the biotechnology and medical device industry because it is one of the fastest growing segments of the economy," said Mr. Herzog. "Employment in the life sciences grew in Virginia by 23% from 2001-2008, compared to 6% for the economy as a whole during that same period. The average bioscience salary is about $77,000 per year which is morethan $30,000 more than the average salary nationwide."

Lisa Schaffner, Director of Public Relations and Marketing for the United Network for Organ Sharing (UNOS), served as the master of ceremonies and Dr. William A. Hazel, Virginia's Secretary of Health & Human Resources delivered the keynote address.

The other finalists for the Medical Product or Device Award category included:

Empirical Technologies is a Charlottesville-based bioscience company that produces their CareTaker product that records, beat by beat, central blood pressure, heart rate and respiration rate in a magnetic imager. The novel technology detects aortic aneurisms and occult bleeding or hemorrhage.

Global Cell Solutions is a Charlottesville-based biotech company that has developed a platform for expanding and delivering living cells for the purposes of drug discovery, toxicology screening and regenerative medicine. GCS's (News - Alert) technology provides innovative solutions for three-dimensional cell culturing to researchers in biotechnology, drug discovery and therapeutics.

ivWatch, LLC is a Hampton Roads-based bioscience company that has developed a small, non-invasive, low cost, disposable skin sensor using infra-red light to detect IV fluid infiltration. The patented technology has won numerous research grants and awards for its innovative technique.

Soluble Systems is a Newport News-based manufacturer and distributor of a line of advanced wound care products under the brand names of TheraSkin and TheraGauze. The company operates an ISO 8 Clean Room manufacturing facility in Hampton, Virginia. The technologies behind the products are biologically based human skin allografts and a proprietary polymer dressing that differentially regulates moisture across a wound to provide an optimally moist environment for healing.

The program also included award is other categories such as Employee Health; Health Information Technology; and Patient Care for large and small organizations. In addition to the Virginia Biotechnology Association, other event sponsors included McGuireWoods LLP; Virginia Capital Partners; Mercer; Deloitte (News - Alert) & Touche LLP; Central Virginia Healthcare Executive Group; Healthcare Financial Management Association; Healthcare Information & Management Systems Society; Medical Society of Virginia; VCU Department of Health Administration; Virginia Association of Health Plans; Virginia Council of CEOs; Virginia Nurses Association and the Virginia Telehealth Network.

About VABIO: The Virginia Biotechnology Association, formed in 1992, is the premier statewide non-profit trade association representing the life sciences industry in the Commonwealth of Virginia. Nearly 200 member organizations have joined forces to make VABIO an effective advocate for the biopharmaceutical and device industries before federal, state and local policy-makers. VABIO is the official state affiliate of the Biotechnology Industry Organization (BIO), in Washington, D.C.

In the last three years, VABIO successfully lobbied for the passage of Virginia's Refundable R&D Tax Credit, state matching funds for SBIR awards, a 100% capital gains tax exclusion on investments in bioscience companies in Virginia, as well as an overhaul of the state's "Angel Investor Tax Credit" that provides a 50% credit on a bioscience investment up to $50,000. In addition to numerous networking and business match-making events for member organizations, the Association also provides discount programs and exclusive incentives to help members reduce costs and meet the expert connections they need to thrive.

For more information, please visit www.vabio.org.

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