The Wine Business Institute at California's Sonoma State University has received a $3 million donation to fund the construction of a new mixed-use facility. The new center will be named the Wine Spectator Learning Center after donor Marvin R. Shanken, editor and publisher of Wine Spectator magazine. The university aims to raise $10 million for construction of the building, set to begin next year.
CTS Printex and ADN Corp. will spend almost $3 million to complete the cleanup of a 5.5-acre Superfund site in Mountain View, Calif., under terms of a settlement reached with the Environmental Protection Agency. The agreement requires the companies to spend $2 million to treat groundwater tainted by trichloroethylene and other industrial solvents, to monitor the site for vapor intrusion, and to reimburse $850,000 to the EPA for its cleanup efforts. "This settlement requires the final cleanup of the groundwater, eliminating the potential for contaminants to enter homes and buildings," said Jared Blumenfeld of the EPA.
Avantis Medical Systems has obtained more than $3 million in Series D financing and targets about $4.95 million more for that round. The Sunnyvale, Calif.-based company will use part of the proceeds to commercialize and improve its flagship product, the Third Eye Retroscope, designed to add viewing capability to a colonoscope.
SunTrust Banks is investing an additional $3 million in Capitol City Bank in Atlanta, after a $1 million earlier investment. The infusion is expected to restore Capitol City, a minority-owned bank still struggling from the real estate downturn, to well-capitalized status. SunTrust's investment means it could receive Community Reinvestment Act credit.
Kinetic Concepts has agreed to commercialize Novadaq Technologies' Spy fluorescence imaging device, which enables real-time assessment of tissue perfusion, in Europe, North America and Japan over six to seven years. The Toronto-based company will receive from KCI $3 million in upfront cash, plus milestone payments.