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Bits&Bytes: Three tech startup leaders launch yet another firm
Saturday, September 09, 2006

Well-known on the local life sciences scene, Mary Del Brady, Peter DeComo and Raymond Vennare figure they have seen and been through just about everything while trying to get their tech companies -- 10 collectively -- off the ground.

Now they have linked up to launch another -- ThermalTherapeutics, a medical device firm developing a specialized pump for delivering chemotherapy more effectively.

Since Ms. Brady and Mr. DeComo also are busy leading their own firms -- Ms. Brady with RedPath Integrated Pathology and Mr. DeComo with Renal Solutions Inc. -- Mr. Vennare, formerly the chief executive officer of ImmunoSite, has taken the lead at ThermalTherapeutics.

As co-founders and "passive partners," Mr. DeComo and Ms. Brady have put their own money into the 6-month-old firm and used their connections and expertise in the life sciences industry to get ThermalTherapeutics up and running. Mr. Vennare has been actively raising money from outside investors.

Mr. DeComo said he and Ms. Brady will provide guidance and counseling. "I'll just be a sort of a co-founder that goes away as some do [eventually]."

The trio decided to join forces after a fourth co-founder, seasoned medical device engineer Michael Fausett, presented them with the opportunity more than six months ago. Currently based in Indiana, Dr. Fausett is serving as ThermalTherapeutics' chief technology officer -- and is busy perfecting a prototype for the company's maiden product.

"Raymond and Mary Del have strong backgrounds in cancer. I have a strong background in medical device development," Mr. DeComo said. "It seemed natural to put us together."

Yesterday marked the not-so-public debut of the new top-secret strategy for growing Pittsburgh's technology industry.

The road map was unveiled at a three-hour by-invitation-only session at the Concordia Club, hosted by the University of Pittsburgh's Institute of Politics.

University Partnership Chairman Donald Smith Jr. unveiled the plan, which has been nearly a year in the making and is based on findings and recommendations from a $425,000 study by the Battelle Institute, an Ohio-based research and development firm.

Thirty percent of the study's price tag was paid for with state dollars given to the Greater Oakland Keystone Innovation Zone, the economic development coalition Dr. Smith heads. The remaining 70 percent was funded by local foundations.

Dr. Smith and his coterie of "cardinals" -- a carefully chosen coalition of economic development and technology industry movers and shakers -- have been busy hashing out the details behind closed doors to determine which of the study's findings the region will tackle.

Dr. Smith hasn't disclosed when the public will get to take a peak of the findings -- and has asked those involved with the strategy to refrain from speaking about it publicly. "We were invited to address the Institute of Politics as part of their commitment to economic development," Dr. Smith said. "The institute has a long and exemplary history of bringing together elected officials with business and civic leaders, and these are important audiences to engage."

Robinson-based robotics firm Aethon is branching out from its Tug robots, which are used to deliver meals, medicines and supplies in hospitals.

To help hospitals keep track of equipment, the company has introduced Homer, which uses radio-frequency identification technology.

There are two versions of Homer -- as a standalone robot, similar to the suitcase-size Tug, or as a mobile antennae tacked onto Tug.

Aethon chief Aldo Zini said Homer can merge with existing hospital systems and requires minimal installation. Already six hospitals have signed on, including Armstrong County Memorial Hospital in Kittanning, Allegheny General Hospital, and Johns Hopkins Hospital in Baltimore.

TouchTown Inc., the Oakmont-based brainchild of former ServiceWare CEO Jeff Pepper, has been chosen as one of the 30-plus technology firms slated to pitch their worth to investors at the upcoming 3 Rivers Venture Fair.

The company is ready for investors, Mr. Pepper said, after more than five years of bootstrapping since its debut as an Internet service provider for the geriatric set. Today, TouchTown focuses on managing television channels, custom programming and Web-based information for the roughly 200 retirement communities it serves.

"Even though a relatively small number of people in that age group use computers -- everybody watches TV," Mr. Pepper said.

First published on September 9, 2006 at 12:00 am
Got tech buzz? Contact Corilyn Shropshire at cshropshire@post-gazette.com or 412-264-1413.
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