Florida Governor Jeb Bush visits XL TechGroup
15 August 2005
Governor Jeb Bush today visited XL TechGroup, Inc. (AIM:XLT), a unique Florida company whose mission is to identify unmet market needs in the Biotech, Ecotech and Medtech sectors and then systematically create and develop successful disruptive technology businesses to exploit these needs. The Company has developed a unique proven method to rapidly bring companies from inception to liquidity, matching unexploited IP from a group of technology partners to the identified unmet market need.
Speaking at the event Governor Bush said: “Congratulations to The XL TechGroup team and its recent creation of new innovative businesses such as TyraTech and DxTech. XLTech's exciting business model is a great example of ways in which the private sector, academic R&D communities, and foundation-based scientific research can come together to develop and transfer successful biotech/life sciences products and businesses to the commercial marketplace. An operation like this one is in line with Florida's goal of fostering emerging technologies as we work to ensure our role as a world leader in improving the human condition.”
As part of his ongoing effort to promote and support Life Science and Biotech industries in Florida, Governor Bush toured the XL TechGroup facility, met with CEO Dr. John Scott, and spoke with XL TechGroup employees. XL TechGroup offers a proven methodology for commercialising new “disruptive” technologies, and has a long track record of matching Intellectual Property with unmet market needs, with a focus on technologies that can revolutionise healthcare.
In a show of support for future collaboration, also in attendance for today's visit were scientific research and development representatives from many of Florida's universities. XL TechGroup develops strategic relationships with corporate and technology partners, and has successfully concluded negotiations for a variety of technologies that originate from leading universities and Fortune 500 companies.
Governor Bush encourages close interaction between cutting edge companies like XL TechGroup and Florida universities, which are developing many exciting new technologies. Likewise, XL TechGroup hopes to expand existing partnerships with Florida's burgeoning life sciences sector, including collaboration with Scripps Florida. XL Tech's model focuses on inventing and growing new businesses, and creating jobs in Florida rather than having to attract employers from other States.
Recently XL TechGroup announced the new formation of a strategic relationship with The Procter & Gamble Company, as well as the creation of XL TechGroup's third company, DxTech. DxTech is developing a unique micro-fluidic platform to initiate a transition from centralised to distributed diagnostics. The technology addresses the need in the medical diagnostics market for real-time results at point-of-care for a comprehensive array of tests typically required by clinicians. The diagnostic platform is fully-automated, requiring only a drop of blood applied directly to a credit card-sized disposable cartridge to provide a diagnosis within minutes that equals or exceeds the ‘gold standard' achievable by a reference laboratory. Test and quality control data is transmitted via a small electronic reader to a centralised management system where results are processed and stored.
John Scott, Chief Executive Officer of XL TechGroup, said: “ We were delighted to welcome Governor Jeb Bush to XL TechGroup. The opportunity to work more closely with Florida-based researchers is very exciting for us. We develop companies that strive to have a dramatic impact on the quality of healthcare. Through his efforts, Governor Bush is facilitating the conversion of important new research being conducted in Florida into products that can improve the quality of life for millions of people.”
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