Harris & Harris Group Notes Announcements by Its Portfolio Companies During the Third Quarter of 2016
NEW YORK, Sept. 30, 2016 (GLOBE NEWSWIRE) -- Current and prospective shareholders of Harris & Harris Group, Inc. (NASDAQ:TINY) may be interested in a number of announcements by some of our portfolio companies during the third quarter of 2016. These announcements, as well as news from our other portfolio companies, can be found on our website at www.hhvc.com.
D-Wave Systems, Inc.
On September 27, 2016, D-Wave Systems announced details of its most advanced quantum computing system, featuring a new 2,000 qubit processor. The company made the announcement at its inaugural users group conference in Santa Fe, New Mexico. The company’s press release may be found at http://www.dwavesys.com/press-releases/d-wave-systems-previews-2000-qubit-quantum-system. This announcement was also covered in a number of press articles including:
- International Business Times - “D-Wave Systems Announces 2,000 Qubit Quantum Annealing Computers, Says It is 1,000 Times Faster Than Predecessor.” (http://www.ibtimes.com/d-wave-systems-announces-2000-qubit-quantum-annealing-computer-says-it-1000-times-2423682)
- Yahoo Finance - “In Quantum Computing Advance, D-Wave Announces 2,000 Qubit Processor” (https://www.yahoo.com/tech/d-wave-claims-latest-quantum-172219198.html?soc_src=mail&soc_trk=ma)
- PC World - “D-Wave Will Ship a 2,000-Qubit Quantum Computer Next Year” (http://www.pcworld.com/article/3122452/hardware/d-wave-will-ship-a-2000-qubit-quantum-computer-next-year.html)
HZO, Inc.
On August 17, 2016, HZO announced a collaboration with Rakuten Kobo to protect its latest eReader, the Kobo Aura ONE. The company’s press release may be found at http://www.hzo.com/rakuten-kobo-chooses-hzo-to-waterproof-its-next-generation-ereader-the-kobo-aura-one/.
Precision Health and Medicine
The following announcements were made by companies we are building that are focused on precision health and medicine.
Interome, Inc.
On August 15, 2016, Interome announced that it was a co-organizer of the UnDx Consortium™. This organization brings together five precision medicine technology providers and prominent experts from medical centers and universities across the country to collaborate in an effort to produce new hypotheses for a set of six patients struggling with undiagnosed diseases. The UnDx Consortium met to explore results of cutting-edge tests analyzing samples from these patients and their families. That meeting was the beginning of what is expected to evolve into an ongoing forum to explore the potential of combining precision medicine technologies to diagnose and treat disease. Interome’s press release may be viewed at https://globenewswire.com/news-release/2016/08/15/864246/0/en/Precision-Medicine-Put-to-the-Test-UnDx-Consortium-Gathers-to-Examine-New-Hypotheses-for-Undiagnosed-Patients.html. A number of Harris & Harris Group’s companies focused on precision health and medicine participated in the event including Muses Labs, Inc., Metabolon, Inc., and ORIG3N, Inc.
On September 26, 2016, Interome announced that collaborators and organizers of the UnDx Consortium would come together again at the 14th annual Future in Review (FiRe) conference. The conversation would include a summary of the UnDx Consortium, a discussion of hypotheses resulting from analyzation of data from the Consortium on August 16, 2016, and proposed next steps for the UnDx Consortium. The FiRe conference was held September 27 – 30, 2016 in Park City, Utah. Interome’s press release may be viewed at https://globenewswire.com/news-release/2016/09/26/874582/0/en/UnDx-Consortium-to-Present-at-14th-Annual-Future-in-Review-Conference.html.
On July 25, 2016, Doug Jamison, Chairman of Interome and Chairman and Chief Executive Officer of Harris & Harris Group, collaborated with Katia Moritz, a Board Certified physician, to author an article entitled, “Can the Gut Microbiome Be Used to Provide Valuable Information to Undiagnosed Patients?” This article was published on the website of the American Gut Project, a study co-founded by Dr. Rob Knight and Jeff Leach, that enables participants to learn about their own body’s microbes while also contributing to the greater scientific effort to learn how the human microbiome is associated with various aspects of our health--from associations with diet to the amount of alcohol someone drinks to whether or not someone has autism or IBD. The article may be viewed at http://americangut.org/can-the-gut-microbiome-be-used-to-provide-valuable-information-to-undiagnosed-patients/#.
Muses Labs, Inc.
On September 2, 2016, Muses Labs presented data from a pilot study of its MEND Protocol for the treatment of early Alzheimer’s disease at the Alzheimer’s Association International Conference 2016. MEND Protocol is a multi-step cognitive evaluation process that uses advanced data processing technology to first assess which risk factors are present in an individual. Muses Labs’ press release may be viewed at https://alzheimersnewstoday.com/2016/09/02/muses-labs-pilot-study-of-alzheimers-mend-protocol-shows-promise-in-at-risk-people/.
On July 13, 2016, Muses Labs and Metabolon, another portfolio company of Harris & Harris Group, announced a partnership to study and apply metabolomics in individuals with pre- and early-symptomatic cognitive decline and Alzheimer’s disease. The companies stated that they expect to bring new clinical trial services and updated care protocols to the market in 2016. The joint press release may be viewed at https://museslabs.com/metabolon-and-muses-labs-partner-to-apply-metabolomics-to-alzheimers-disease/.
Metabolon, Inc.
On August 11, 2016, Metabolon announced that it closed a round of financing of $15 million from a new investor, Essex Woodlands. The company’s press release may be viewed at http://www.metabolon.com/news-2016/metabolon-closes-$15-million-financing-to-support-precision-medicine-growth-opportunities.aspx.
On September 28, 2016, Metabolon announced that it launched its Meta IMDTM test for diagnosis of inherited metabolon disorders. The company’s press release may be viewed at http://www.metabolon.com/news-2016/metabolon-launches-meta-imd-test-to-speed-diagnosis-of-inherited-metabolic-disorders.aspx.
EchoPixel, Inc.
On July 21, 2016, EchoPixel announced that its medical virtual reality system is ready for clinical implementation. The system is being distributed to customers in collaboration with the HP Zvr Interactive Virtual Reality Display and workstation. The company’s press release may be viewed at http://www.marketwired.com/press-release/echopixel-medical-virtual-reality-system-ready-for-clinical-implementation-2144398.htm.
On September 28, 2016, EchoPixel’s 3D visualization technology was profiled in an article and video by ABC News. The article and video can be viewed at http://abc7news.com/health/ucsf-doctors-use-virtual-screenings-to-save-lives/1530980/.
Harris & Harris Group is a publicly traded, internally managed business development company that builds transformative companies from disruptive science. Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com, on Facebook at www.facebook.com/harrisharrisvc and by following on Twitter @harrisandharrisgroup.
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2015, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including, but not limited to, the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The references to the websites www.HHVC.com, www.dwavesys.com, www.hzo.com, www.metabolon.com, www.museslabs.com, www.americangut.org, www.alzheimersnewstoday.com, www.globenewswire.com, www.pcworld.com, www.yahoo.com, www.ibtimes.com, www.echopixel.com, www.marketwired.com, www.abc7news.com, www.museslabs.com and www.Facebook.com have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Harris & Harris Group is not responsible for the contents of third party websites.
Company Contact: Daniel B. Wolfe Harris & Harris Group, Inc. President (212) 582-0900
Released September 30, 2016