1 Million Invested Into QuaDPharma, LLC by Rand Capital andAdvantage Capital Partners
BUFFALO, NY, Nov 20, 2012 (Menafn - MARKETWIRE via COMTEX) --QuaDPharma, LLC (Clarence, NY) (www.qdpharma.com) has completed a 1million financing investment from Rand Capital SBIC, Inc. (Buffalo,NY) (www.randcapital.com) RAND and Advantage CapitalPartners (Glens Falls, NY) (www.advantagecap.com). QuaDPharmamanufactures and tests small-batch pharmaceuticals; prescriptionointments, creams and tablets that researchers or drug companies needin small-scale (generally less than 1,000 liters) pre-commercial andcommercial manufacturing. The funds will be used to expand and marketthe commercial capabilities of the business.
Chris Harris, Vice President of Advantage Capital Partners, stated,"We are pleased to participate in growing the health care industry inWestern New York through our investment, and are especiallyinterested in the potential economic impact that a company likeQuaDPharma will have as it expands to serve new customers and createsgood jobs in the region."
QuaDPharma was founded by three colleagues of a long-time Buffalopharmaceutical manufacturer, CPL (formerly Westwood Squibb),following its plant shutdown. The founders include Stephen Panaro,Ryan Downey and Leanne Kisicki. Allen F. Grum, Rand's Presidentstated, "The QuaDPharma team saw an opportunity to take their manyyears of pharmaceutical manufacturing experience and exploit abusiness opportunity to service this niche marketplace, followingtheir former employers relocation to Southern Ontario."
"QuaDPharma is now poised to grow at an accelerated rate. Havingobtained two strategic investors, we are able to increase ourservices as well as our flexibility for small/mid-scale productionneeds of our customers," said Stephen A. Panaro, Ph.D., President andCEO of QuaDPharma, LLC. "These funds will allow QuaDPharma toincrease its marketing and awareness within the Bio-Pharmaceuticaland Pharmaceutical fields." Dr. Panaro continued, "The support fromthe staff of the Buffalo medical campus, and its University atBuffalo-affiliated entities, helped make the initial introduction toour new investors, as well as assisting our young business indeveloping strong industry relationships. This reveals what canhappen when good ideas, good people and good execution come together,as we demonstrate Buffalo's strengthening medical technology sectorbusiness growth."
Safe Harbor Statement
Information contained in this release should be consideredforward-looking, and may be subject to inherent uncertainties inpredicting future results and conditions. Please see theCorporation's Form 10-Q, Item 1A, previously filed with theSecurities and Exchange Commission for a detailed discussion of therisks and uncertainties associated with the Corporation's business.
ABOUT RAND CAPITAL
Rand Capital is a publicly held Business Development Company (BDC),and its wholly owned subsidiary is licensed by the Small BusinessAdministration (SBA) as a Small Business Investment Company (SBIC).Rand provides capital and managerial expertise to small and mediumsized private companies primarily located in the Northeast U.S. Randis traded on the NASDAQ under the symbol "RAND" and is headquarteredin Buffalo, NY. www.randcapital.com
Investor Contact:
Allen F. Grum
Executive Vice President
716-853-0802
Email Contact
2200 Rand Building
Buffalo, New York 14203
SOURCE: Rand Capital
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