[news 2001-2002]

PARTEQ, Cardiomics receive KTC Awards of Excellence

Feb. 4, 2002

KINGSTON -- PARTEQ Innovations, the technology transfer arm of Queen's University, and Cardiomics Inc., a PARTEQ spinoff company, were honoured for their contributions to the growth of the technology sector in Kingston at the second annual Kingston Technology Council Awards of Excellence on Saturday, Feb. 2.

PARTEQ received the Partner Award, a new KTC award this year, in recognition of its significant contributions to the growth of its Kingston spinoff company, Molecular Mining Corporation. "As a founder and continuing supporter of Molecular Mining, PARTEQ has exemplified the ideals of partnership celebrated by this award," said Dr. Evan Steeg, President and CEO of Molecular Mining.

Molecular Mining recently completed $13 M in second-round financing, and last month launched an updated version of its data mining software, GeneLinker Gold™.

Cardiomics, a newly established PARTEQ spinoff company based on award-winning research by Queen's University biochemist Dr. Jennifer Van Eyk, received the Nova Award as a well-managed, early-stage company that is poised for exponential growth. Cardiomics uses a functional proteomics approach to identify and characterize the proteins involved in heart disease. These proteins are expected to lead to the development of diagnostic and therapeutic products for the treatment of ischemic heart disease.

"Proteomics is the next wave of technology that will improve our lives, said John Molloy, President and CEO of PARTEQ, which nominated the company. "Cardiomics has a very good opportunity to be a major player in the functional proteomics arena."

Fuel Cell Technologies, also nominated for a KTC award by PARTEQ, received the Technika Award for its development of solid fuel-cell technology, which is poised for global commercialization and job creation. "From the launch of a working prototype to major endorsements by the Canadian and U.S. governments, Fuel Cell Technologies is a company well positioned for leadership in its field," Mr. Molloy said. "Indeed, the company has just won an international competition to install three of its fuel cell power systems in a progressive residential development project in Stockholm, Sweden."

Accepting the Partner Award on behalf of PARTEQ, Mr. Molloy said, "PARTEQ is an acronym for Partners in Technology at Queen's, and we create and develop partnerships with all of our clients. It is extremely gratifying that our partnership efforts are recognized in this way."

This year marked the second trip to the winners' podium for PARTEQ. Last year Mr. Molloy received the KTC Champion Award for his leadership in promoting knowledge-based enterprises in Kingston.

The Kingston Technology Council Awards of Excellence were established by the Kingston Technology Council in 2001 to celebrate outstanding individuals, companies and institutions who, through the development and application of technology, have made significant contributions to the prosperity and social/cultural well-being of the Kingston community.

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Contact:
John Molloy
President & CEO, PARTEQ Innovations
(613) 533-2342
www.parteq.queensu.ca

Dr. Geoff Flynn,
President & CEO, Cardiomics, Inc.
(613) 533-6548
www.parteq.queensu.ca/company/cardiomics.htm

Dr. John H. Stannard,
President & CEO, Fuel Cell Technologies
(613) 544-8222
http://www.fct.ca/

Bob Pritchard, Chair
Kingston Technology Council
(613) 546-9387
http://www.kingstontechnology.net/