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Indianapolis-based FAST Diagnostics gets funding from BioCrossroads' seed fund

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Indianapolis-based FAST Diagnostics has received a second round of funding from BioCrossroads’ Indiana Seed Fund.

The $150,000 will help FAST refine its tool to treat acute kidney injury and to prepare for large, preclinical studies.

Previously, the $6 million BioCrossroads fund invested $380,000 toward initial commercialization efforts.

“The lackluster capital market has proven to be a challenge,” said Joe Muldoon, FAST’s CEO.

BioCrossroads CEO David Johnson said FAST has continued to meet key milestones and has successfully built partnerships with other companies and with colleges, including Rose-Hulman Institute of Technology, Indiana University and Purdue University.

FAST has been buoyed by additional funding, including $200,000 from the Purdue Research Foundation and a $1.1 million grant from the National Institutes of Health.

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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

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  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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