SCRA Technology Venture's South Carolina Launch Board recently completed investments for Charleston Pharma and FirstString Research.
Both companies will use funding from SCRA to expand their operations.
“It is through the continued support and development of innovative companies like these that we are seeing the high-tech economy in South Carolina continue to grow,” SCRA CEO Bill Mahoney said. “We are delighted to support these companies and the great work they are doing in South Carolina.”
Charleston Pharma received SCRA board approval for investment in May. The company develops therapeutic antibodies as well as related diagnostic tests for cancer patients and health care providers. The company conducts research at the SCRA MUSC Innovation Center.
Charleston Pharma as been involved with the SC Launch program since October 2010.
FirstString Research, which received SCRA board approval for investment in March, has been an SC Launch company since 2006. It is a clinical-stage biotechnology company specializing in scar prevention, inflammation reduction, wound healing and complex tissue regeneration.
Studies have indicated SCRA has added about $18.1 billion to the South Carolina economy through job creation.
For more information on SCRA Technology Ventures, go to www.scra.org.