Program Fact Sheet

Emerging Technology Fund Leveraging private financing for new technology facilities. Matching grants to universities and companies to leverage federal funds for research and development in new and emerging technologies. (Redeveloped under the 2003 Economic Stimulus Bill, c.141 of the Acts of 2003, s.5 and 71. Recapitalized under the 2006 Economic Stimulus Bill, c. 123 of the Acts of 2006, s. 94.) Total appropriated under 2003 Economic Stimulus Bill- $25,000,000 Total appropriated under 2006 Economic Stimulus Bill- $10,000,000 MassDevelopment

Fiscal year of loan approval	Recipient	Region	Industry Type	Loan amount(s) approved	Loan amount(s) disbursed	Amount of funds matched or leveraged	Purpose of loan(s)	Jobs existing	New jobs projected
Totals				$26,659,615	$21,746,247	$124,412,555		759	1,442
2004	Acusphere, Inc., Tewksbury	Northeast	Bio-technology	$2,000,000	$2,000,000	$15,000,748	Leasehold improvements for new R&D & Manuf. facility in Tewksbury. Specialty pharm firm with micro-particle drug tech.	50	120
2004	Avant Immuno-therapeutics, Inc., Fall River	Southeast	Medical/ bio-technology	$903,657	$903,657	$1,517,143	Loan for specialized equipement. Biopharma-ceutical firm that uses new immunology for disease treatment.	66	5
2005	Aspen Aerogels, Inc., Northboro	Central	Materials/ insulation	$1,500,000	$1,500,000	$14,000,000	Equipment purchases, leasehold improvements and lab facilities. Co has developed advanced materials for insulation.	100	50
2005	Workshop Live, LLC, Pittsfield	West	Software	$146,158	$146,158	$49,032	Equipment loan. Firm plans to develop online music instruction program.	0	11
2005	Workshop Live, LLC, Pittsfield	West	Software	$92,960	$92,960	See box above	Loan for leasehold improvements	See box above	See box above
2005	Cytonome, Inc., Boston	Greater Boston	Medical devices	$600,000	$600,000	$2,034,210	Leasehold improvements loan for new cell-sorting medical device facility.	13	48
2005	Micro Test Laboratories, Inc., Agawam	West	Medical/ bio-technology/ contract manufac- turing	$799,340	$799,340	$5,860,782	Equipment loan for "fill-finish" drug process for research and development.	89	49
2005	Micro Test Properties, Inc., Agawam	West	Medical/ bio-technology/ contract manufac- turing	$367,500	$367,500	*	Mortgage guaranty to expand facility.	See box above	See box above
2005	Spherics, Inc., Mansfield	Southeast	Bio-technology	$500,000	$499,756	$15,786,000	Equipment loan for bio adhesive drug delivery systems.	0	60
2005	Spherics, Inc., Mansfield	Southeast	Bio-technology	$2,000,000	$2,000,000	See box above	Leasehold improvements loan for new plant.	See box above	See box above
2006	Blue Sky Bio Tech, Inc., Worcester	Central	Bio-technology	$150,000	$150,000	$100,000	Lab testing equipment	6	4
2006	BioVex, Inc., Woburn	Northeast	Bio-technology/ contract manufact- uring	$2,500,000	$1,261,090	$9,347,763	Leasehold improvement loan for pilot manuf plant for cancer and therapeutic vaccines	2	105
2006	Hyaluron, Inc.	Northeast	Medical bio-technology/ contract manufac- turing	$1,000,000	$1,000,000	$0	Equipment loan for automated filling and freeze-drying of bio-polymers and other solutions	40	23
2006	RenaMed Biologics, Inc., Westborough (1)	Central	Medical devices	$2,200,000	$22,411	$6,600,000	Leasehold financing for new leased facility to manufacture medical devices to treat kidney function	25	275
2006	Middleton Aerospace Corp., Haverhill	Northeast	Defense	$2,000,000	$2,000,000	$6,915,502	Leasehold improvements for new facility to manufacture alloys for military and commercial aircraft	120	45
2006	Nuvera Fuel Cells, Inc., Billerica	Northeast	Energy	$2,500,000	$2,180,229	$13,290,375	Leasehold improvements and equipment for new facility to develop fuel cells	100	250
2007	Valeritas, LLC, Shrewsbury	Central	Medical devices	$2,500,000	$2,500,000	$12,531,000	Equipment purchases for new medical company manufacturing disposable insulin delivery systems	28	147
2007	E Ink, Boston	Greater Boston	Technology	$1,000,000	$999,770	$3,500,000	Leasehold improvements for company that manufactures electronic ink for electronic paper displays	71	40
2007	Luminus Devices, Woburn	Northeast	Technology	$2,500,000	$2,394,952	$7,720,000	Leasehold improvements for company that manufactures lighting for high definition television and projector products.	26	150
2007	BioEnergy International, Norwell	Southeast	Energy	$1,000,000	$0	$7,180,000	Equipment purchases for R&D of cellulosic ethanol and specialty chemicals.	8	25
2007	ECI Biotech, Worcester	Central	Biotechnology	$400,000	$328,424	$2,980,000	Equipment purchases for development of sensors used to detect spoilage/bacteria in poultry and meats as well as wound care products.	15	35
Totals				$26,659,615	$21,746,247	$124,412,555		759	1,442
Fiscal year of loan approval	Recipient	Region	Industry Type	Loan amount(s) approved	Loan amount(s) disbursed	Amount of funds matched or leveraged	Purpose of loan(s)	Jobs existing	New jobs projected
Additional disbursements
2005	Small Business Adm. of New England	*	*	*	$250,000	*	Required by 2003 Economic Stimulus Bill	**	**

Note: Data involve transactions conducted from January 2004, following enactment of the 2003 Economic Stimulus Bill, to March 2008. Data are updated when provided by the administering agency.   * Not applicable     ** Not yet available      *** Not disclosed Note (1): MassDevelopment officials stated that RenaMed Biologics has been removed from the ETF loan portfolio and has signed a nondisclosure agreement with MassDevelopment.