(release from the Research Valley Partnership)

May 31, 2006

For Immediate Release

Media Contact:

Todd E. McDaniel, President and CEO, The Research Valley Partnership

(979) 260-1755 or tmcdaniel@researchvalley.org

Grant Will Help Business Get Innovations to Marketplace, Keep Research Valley Competitive

RESEARCH VALLEY – Gov. Rick Perry today announced nearly $6 million in awards to four emerging technology companies to help these early stage businesses get their emerging technology innovations to the marketplace.  CorInnova, Inc. of College Station, will receive $500,000 for the commercialization of its Heart Therapy Device, a life-saving technology that reduces by 60 percent or more the instances of congestive heart failure in patients who have suffered a severe heart attack.

“I am very pleased to be part of the Texas Emerging Technology Fund program for accelerating the growth of small, high-tech businesses.  It appears to me that economic development tends to go to large, established companies; yet big companies start small,” Dr. John Criscione, CEO and founder of CorInnova Inc. said.  “If successful, we will be a big biomedical device company, producing products that lead to heart recovery.  Our grant will accelerate our growth and help meet some of the challenges faced by startup biomedical device companies like CorInnova.”

Research Valley economic development officials believe that the Texas Emerging Technology Fund will continue to be a valuable tool to help new venture companies get off the ground faster to commercialize high-tech products.

 “The Research Valley Partnership is proud to support CorInnova.  We congratulate CorInnova for their efforts on receiving one of the state’s first emerging technology grant awards.

The Partnership and its Alliance members are working diligently to create the economic development support structure to foster the growth of companies like CorInnova and keep them in The Research Valley,” Mitch Morehead, Chairman of The Research Valley Partnership, Inc. said.

Over the next decade, emerging technologies will generate $3 trillion in revenue worldwide. Research and development carried out at Texas A&M University helps ensure that Texas has the competitive edge to provide future opportunity and prosperity for its citizens.

 "The Texas A&M University System Office of Technology Commercialization is pleased to have CorInnova receive one of the first investments from the Texas Emerging Technology Fund.  CorInnova is commercializing one of the many outstanding innovations created by A&M researchers,” Guy Diedrich, Vice Chancellor for Technology Commercialization System Offices, said.

-30-