March 20, 2006
Foundation Venture Capital Group, LLC Founded as New Medical Discovery Private Equity Venture Fund

The Foundation Venture Capital Group, LLC, (FVCG) is proud to announce its incorporation to invest exclusively in research at the University of Medicine and Dentistry of New Jersey (UMDNJ) by helping to develop technologies that will change the face of healthcare in the future.

To enhance one of the existing missions of the New Jersey Health Foundation, which is to provide direct grants for University researchers, the Foundation Venture Capital Group provides equity investments for future technology. FVCG will collaborate with the Office of Patents and Licensing at UMDNJ to identify the most promising research and provide greater support and opportunities for newly formed start-up companies.

“The faculty at UMDNJ has been involved in breakthrough research projects for a number of years, many of them ready to successfully be considered for investment,” explained George F. Heinrich, M.D., vice chair and CEO of Foundation Venture Capital Group, LLC. “There are many opportunities to make early private equity investments with a range of promising medical breakthroughs and technologies at all five campuses of the University in order to help entrepreneurs develop their commercial potential.”

According to Dr. Heinrich, a venture capital corporation supporting University efforts provides a source of funding that fills a void by promoting the establishment of companies that would most likely not be formed otherwise. Once these companies are established with this seed funding, Foundation Venture Capital Group will seek to work with other traditional venture capital companies to partner in the effort to advance these technologies.

James M. Golubieski, president of Foundation Venture Capital Group, LLC, promoted the idea to complement his work as president of the New Jersey Health Foundation. Both the New Jersey Health Foundation and Foundation Venture Capital Group, LLC, were formed to support the growth and excellence at the University.

“We anticipate that early-stage businesses set up to advance University breakthroughs in research and technology will reap huge benefits, as will the University and the investors,” Mr. Golubieski explained.

Vince Smeraglia, director of the Office of Patents & Licensing, was enthusiastic about the idea.

“The Foundation Venture Capital Group, LLC, provides investment capital to fund entrepreneurial activity at the University,” explained Mr. Smeraglia. “The benefits of this extra early funding means that emerging medical breakthroughs in research and technology businesses can be sustained by sufficient venture capital to optimize their chances of success and ultimately provide revenue to UMDNJ and the groups that support these ventures.”

For more information about partnering with Foundation Venture Capital Group, LLC, contact Mr. Golubieski by phone at (732) 235-5400 or via e-mail at jgolubieski@foundationventure.com.