Safeguard Scientifics and Partner Company Avid Radiopharmaceuticals Honored with Life Sciences Awards

Posted by | September 29, 2010

Philadelphial Business Journal Venture Impact AwardToday, we were honored by the Philadelphia Business Journal with the Inaugural Life Sciences Venture Impact Award, which “goes to the venture capital firm from the Philadelphia region that has had the most impact upon companies in the Philadelphia region.” In addition, Safeguard Scientifics’ partner company Avid Radiopharmaceuticals won awards for Best Incubator Company and Best Local-Research-Based Company while Founder and CEO Daniel M. Skovronsky, MD, Ph.D was named Life Sciences CEO of the Year.

Best Incubator Company and Best Local-Research-Based Company Awards highlight those companies that currently operate out of an incubator in Philadelphia and those that are based on research originally conducted at a Philadelphia area academic or medical institution, respectively. Skovronsky’s selection as a Life Sciences CEO of the Year comes as the result of the significant contributions he and his team have made to the Philadelphia life sciences community. Avid Radiopharmaceuticals is a leader in the development of molecular imaging products with the potential for earlier and more effective detection, diagnosis and monitoring of major, chronic human disease, including Alzheimer’s disease.

Under the guidance of Safeguard’s seasoned entrepreneurs-turned-executives, entrepreneurs are finding success. Leveraging the strategic, operational and management support from Safeguard, these companies have built value and transformed their companies into true leaders in Philadelphia’s growing life sciences community. Seven out of Safeguard’s 17 partner companies are located in the greater-Philadelphia region, including Avid Radiopharmaceuticals,, Garnet BioTherapeutics, NuPathe (Nasdaq: PATH), Quinnova Pharmaceuticals, Portico Systems, and Tengion (NASDAQ: TNGN).

The Philadelphia Business Journal’s Life Sciences Award Banquet was held this morning at the Crystal Tea Room at the Wannamaker Building.

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