PLSG Announces Its First Incubator Graduate:

Crystalplex to Become First 'Alumnus' of PLSG Incubator

Jul 06, 2004, 01:00 ET from Pittsburgh Life Sciences Greenhouse

    PITTSBURGH, July 6 /PRNewswire/ -- The Pittsburgh Life Sciences Greenhouse
 (PLSG), a partnership to put the region's life sciences industry on a fast
 track for growth, today announced that Crystalplex Corporation has expanded
 and will move to larger facilities, serving as the first "alumnus" of the PLSG
     Crystalplex, which moved into the PLSG Incubator in June 2003 from
 Atlanta, has grown since then and is expanding into new space at the
 University of Pittsburgh Applied Research Center (UPARC), which is located in
 Harmarville, about 15 miles from Downtown Pittsburgh.  "We thank the PLSG for
 its support following our move from Atlanta to Pittsburgh and hope many more
 incubator companies will grow and graduate as we have," said Alan Seadler,
 Ph.D., Crystalplex CEO.
     "The graduation of Crystalplex reflects the meaningful work and
 significant progress we are witness to at the PLSG Incubator," said Doros
 Platika, M.D., President and Chief Executive Officer of the PLSG. "Crystalplex
 was one of our first tenants and has outgrown its space, serving as a positive
 case study for the Incubator and a model for other emerging life sciences
 companies in the region.  This growth marks the PLSG's continued progress
 developing critical mass in the regional life sciences industry cluster."
     Crystalplex is a leader in the commercialization of bead based nanosensors
 for use in drug discovery and medical diagnostics. With proprietary reagent
 technology based on nanocrystal-encoded microbeads, Crystalplex provides the
 means to collect vast amounts of information in very small samples like single
 drops of blood.  Crystalplex's first products, PlxBeads(TM), are already on
 the market. PlxBeads(TM) promise to become the next generation of
 nanotechnology based products designed to meet the requirements for
 sensitivity, accuracy, and ease of use in biomedical testing.
     About the PLSG Incubator
     The PLSG Incubator is co-located with the PLSG administrative and support
 infrastructure, which together occupy 15,000 square feet of space on the
 fourth floor of Bridgeside Point, better known as the Cellomics Building on
 Technology Drive in Pittsburgh.  PLSG Incubator facilities consist of 40
 percent lab and 60 percent office space and house 10 life sciences
 organizations, which also have convenient access to other professional
 services offered by the PLSG.
     About the PLSG
     The Pittsburgh Life Sciences Greenhouse is a public/private partnership,
 founded by the University of Pittsburgh, Carnegie Mellon University, UPMC
 Health System, the Commonwealth of Pennsylvania and our regional foundation
 community.  Together with private industry and advanced research and
 healthcare capabilities of our institutional partners, PLSG invests in and
 supports the growth of regional life sciences companies.  The PLSG is focused
 on developing a portfolio of companies in the following industry sectors: drug
 discovery tools and targets, medical devices and diagnostics, tissues
 engineering and regenerative medicine and therapeutic strategies for
 neurological and psychiatric disorders.

SOURCE Pittsburgh Life Sciences Greenhouse