Founded in 2002 by a group of internationally recognized spine surgeons and geneticists, Axial Biotech, Inc. is focused on the use of genetics and the development of minimally invasive fusionless devices to advance the diagnosis and treatment of diseases and deformities of the human spine. Axial is the first company to pursue DNA-based pre-symptomatic and prognostic tests for common spinal conditions which will augment current clinical and surgical practices. In its initial genetic product development initiative, Axial has made significant progress towards the discovery of a location in the human genome that is associated with adolescent idiopathic scoliosis. In addition, Axial's founders have developed five motion preserving, fusionless surgical devices (including the only such device currently being implanted in humans) that have the promise of expanding the current treatable scoliosis patient population by a factor of ten. Axial intends to use its proprietary genetic intellectual property in the development of bio-mechanical devices, and to apply its gene discovery/product development methodology to other spinal diseases. Axial (www.axialbiotech.com) is located in Salt Lake City, Utah.

Inflabloc Pharmaceuticals, Inc. (www.inflabloc.com) is engaged in the research and development of pharmaceutical treatments for inflammatory disorders. Inflabloc’s current product development is based on its discoveries of strong anti-inflammatory properties of dehydroepiandrosterone (DHEA), a steroid that is produced in the adrenal gland. The company’s lead product line is a proprietary DHEA combination treatment. The company has 4 products in development. IP-1001 is slated to enter Phase 2 clinical trials in Crohn’s disease later this year. IP-1002 has completed Phase 1. IP-1003 recently established proof-of-concept in an inflammatory bowel disease (IBD) animal model, while IP-1005 has just entered proof-of-concept testing in a C-reactive protein (CRP) mouse model.

Mirabilis Medica (www.mirabilismedica.com) develops non-invasive solutions for conditions that have traditionally required invasive surgery. The company's patented technology combines the application of therapeutic ultrasound (i.e. high intensity focused ultrasound) under the guidance of conventional imaging (or "diagnostic") ultrasound. Led by experts in therapeutic ultrasound and gynecology, the company's vision is to facilitate office-based therapy for a wide variety of conditions; however Mirabilis will initially address a common problem plaguing millions of women, i.e. uterine fibroids. Established in 2004, the company is based in Seattle and privately-held.

Protalex (www.protalex.com) is a biotechnology company engaged in the development of a new class of immunomodulatory drugs for treatment of rheumatoid arthritis and other autoimmune diseases. The company takes a unique approach towards autoimmune diseases as its drugs act upon cells at the primitive level of function. The company will enter Phase I clinical trials within the next year for its first drug that addresses Rheumatoid Arthritis. Pre-clinical studies in Lupus and Chron’s disease are set to begin in the fourth quarter of 2004.

Salus was acquired by Genta (NASDAQ:GNTA) in August 2003.

VeraLight, www.veralight.com a spinout of InLight Solutions, is a medical device company that is developing Scout, a non-invasive screening device that will detect diabetes and pre-diabetes more accurately and conveniently than current methods. Scout uses fluorescent light to detect changes in a patient's skin indicative of diabetes. The Scout test can be performed anywhere, any time and is simpler than taking blood pressure. VeraLight's non-invasive diabetes screening technology will assist healthcare providers and patients in the global battle against the type 2 diabetes epidemic.