Memphis Bioworks Foundation Contributes To Local Research

MEMPHIS, Tennessee, June 23, 2005 - The Memphis Bioworks Foundation presents Dr. Yunzhi Yang, researcher for the University of Tennessee, with a $66,000 grant to foster local research.

The grant award is in response to a project as described in Yang's grant proposal: Calcium Phosphate as a Tissue-Engineered Aided material (TEAM) to aid bone formation in Avascular Necrosis, Segmental defects and around Dental Implants. The award is granted for TEAM applications to Avascular Necrosis only and will be paid in four increments from the initial signing through September 15, 2006.

The grant was issued from a $200,000 reward presented to the Memphis Bioworks Foundation by the Assisi Foundation of Memphis, an organization dedicated to awarding donations to not-for-profit organizations serving local Memphians and Mid Southerners.

"We are extremely energized about supporting local researchers in an effort to advance Memphis' health and bio science industries," said Dr. Steven J. Bares, Executive Director and President of the Memphis Bioworks Foundation. "We will continue to proudly support promising research by industry professionals in the Memphis region."

The grant marks Memphis Bioworks Foundation's first donation awarded to research studies. The foundation's board will soon review opportunities for additional local researchers to earn the remainder of Assisi's donation and continue working for the benefit of the community.

Memphis Bioworks Foundation, a not-for-profit organization, was formed in early 2001 to establish the Memphis region as an internationally recognized center for biomedical technology through education, research, job training and commercialization. Baptist Memorial Health Care donated its property in the Medical Center to the Foundation for the site of its research park, the focal point of the biomedical and economic development. The research park, which will include an incubation program to develop new business in biotechnology, will be the centerpiece of a larger biomedical research and development center.