Connecticut Innovations has made a $475,000 investment in tech-based FMP Products Inc. of New Milford.
The investment was made through CI”™s Eli Whitney Fund, its third investment in FMP and its thirteenth in early-stage Connecticut technology companies since last July. Connecticut Innovations is the state”™s quasi-public authority responsible for technology investing and innovation development.?FMP is developing laboratory automation equipment and software to help improve the productivity of researchers in the pharmaceutical, industrial, educational and governmental arenas.
“CI”™s involvement has been vital to our company”™s progress to date, and their continued support offers us the opportunity to move our new technology platforms forward,” said Tom Friedlander, president and co-founder of FMP ?The company”™s harvesting and 3D video imaging line of products is used by researchers to analyze and document samples and specimens. Its newest line enables researchers to harvest protein crystals as small as 3 microns to 5 microns (less than one-twentieth the width of a human hair). Friedlander said the advance will speed up the drug discovery engine. He said FMP products will also enable entomologists to study and catalogue insect specimens via a new real-time 3D specimen manipulator and enhanced visualization process.
“The company”™s innovative sample preparation and imaging technologies address many of the challenges faced by scientists, researchers and technicians around the globe,” said Peter Longo, president and executive director of CI.
Gov. M. Jodi Rell said by supporting emerging companies like FMP, Connecticut Innovations is continuing its longstanding mission of helping to grow the entrepreneurial, technology-based economy in state.
“CI”™s investment in FMP supports an exciting venture whose research tools will positively impact numerous industries, including drug development, forensics, entomology and gemology, just to name a few, ” said Rell. ?The company also has a new line of automated liquid handlers under development for “high throughput screening” and “enzyme-linked immunosorbent assay” for diagnostic markets.
FMP”™s systems offer a number of advantages including speed of sampling, ease of sample manipulation, precise control and high resolution, according to the company. The company”™s products have attracted interest from major pharmaceutical companies, government agencies and museums, which are now either customers of FMP or are testing the company”™s systems.
Pauline Murphy, CI managing director for investments, will continue to represent CI on FMP”™s board of directors.
