2004 Headlines
Johnson School Student-Managed Fund Invests $42K in New BusinessThird Investment of BR Ventures Fund Will Help Alzheimer's Diagnostic Company Grow July 14, 2004, Ithaca, New York The Johnson Graduate School of Management's student-managed investment fund, BR Ventures (BRV), is pleased to announce that it has invested $42,000 in Medical Care Corporation (MCC), a company that develops and markets software to facilitate the early detection, accurate diagnosis, and effective treatment of Alzheimer's disease and related disorders. In addition to yielding shares of Medical Care Corporation (MCC), the investment will provide the Johnson School with an observer seat on the MCC Board and a ten-week student internship at MCC's corporate headquarters. "BRV is pleased to be able to make this investment," said Michael E. Lee, one of the fund's student-managers. "After a lengthy period of due diligence and research, our team has decided to move forward and make this substantial investment. We are enthusiastic and have a great deal of faith in the company's management as well as its products." MCC produces early detection tools for Alzheimer's that are highly sensitive, non-invasive, inexpensive, and easy to administer. Treatment options are limited in their effectiveness in the later stages of the disease, so early detection is vital. Such early detection widens a physician's options for treating the disease, thereby prolonging patient independence and reducing care costs. Markets for MCC's products include aging individuals and their families, pharmaceutical manufacturers, healthcare insurers and providers, and assisted-living facilities. MCC offers two product lines-assessment tools (for use by physicians and the general public) and care modules. "The BRV investment is not only financial," adds Zachary Shulman, faculty advisor and general council to BRV. "The investment gives us a presence in the corporate boardroom and offices so we can ensure that decisions are being made to grow the company and the product line-actions that will lead to increased share and investment value." BRV infuses venture capital and business expertise into promising startups by providing seed capital, typically ranging between $40,000 and $200,000, to selected businesses. BRV's dynamic team of nine-student fund managers provides an integrated, cross-functional skill set that realizes startups' commercial potential and creative vision. BRV's unique structure, which grants principal responsibilities to each manager, gives the team control over every aspect of the fund. Fund managers execute each step of the venture capital process including searching for and selecting investment opportunities; performing due diligence; negotiating term sheets; making investment decisions; and guiding transactions through closing. Two prior BRV investments include SightSpeed, an internet-based video conferencing company started by a Johnson School MBA and Cornell professor (http://www.sightspeed.com), and Gene Network Systems, a systems biology company (http://www.gnsbiotech.com). The Johnson School at Cornell University, founded in 1946, is Cornell's graduate school of management. The Johnson School combines leading edge intellectual capital with "real time, real world" business practice and is among the top business schools in the world. Opportunities for experiential learning, such as immersion programs and student-run venture capital and mutual funds, distinguish the Johnson School's curricula. Programs include MBA and doctoral degrees, a twelve-month MBA option for students with advanced degrees in science or engineering and an executive MBA. The Johnson School is located at the center of Cornell University-the largest of the Ivy League schools and one of the world's top research institutions. For more about the Johnson School please visit: www.johnson.cornell.edu. To learn more about BRV visit: http://brv.cornell.edu. For More Information |
