News Item

Life Science Greenhouse of Central PA (LSGPA) invests in QuantumBio for accelerating drug discovery efforts using unique molecular modeling tools

June 23, 2005

State College, PA -- June 23, 2003 -- The Life Sciences Greenhouse of Central Pennsylvania (LSGPA) has invested close to $1 million in two promising biotechnology startup companies headquartered in State College, PA. NanoHorizons, Inc., a developer and producer of state-of-the-art nanotechnology products and processes, receive $500,000. QuantumBio, Inc., a software company that seeks to accelerate drug discovery efforts using unique molecular modeling tools, received $425,000. These represent the first of LSGPA's pre-seed stage investments, which are expected to total roughly $10 million over five years. Additionally, the companies received matching fund commitments exceeding $4 million.

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From left to right: Mel Billingsley, President & CEO of the Life Sciences Greenhouse of Central PA; Dennis Yablonsky, Secretary PA Department of Community and Economic Development; Lance Westerhoff, Chief Software Engineer of QuantumBio, Inc.; Kenneth Merz, CEO of QuantumBio; Walter Greenblatt, CFO of QunatumBio; and Kevin Harter, Senior V.P. Business Development of the Life Sciences Greenhouse of Central PA

About QuantumBio, Inc.
QuantumBio's software suite of quantum mechanically-based molecular modeling tools and unique database of protein structures critical to drug discovery are based on technology developed between 1995 and the present at Penn State University (PSU) in the labs of Dr. Kenneth Merz, an international leader in the field of computational chemistry for drug discovery. These proprietary tools will enable scientists engaged in drug discovery to leverage the precision of quantum mechanical approaches to model interactions between proteins and small molecules far better than the classical mechanics-based software models currently available on the market. In addition, the company is expected to benefit from an expanding list of technology emerging from PSU in the form of provisional patents and invention disclosures.