Adimab is changing the discovery, maturation and production of therapeutic human antibodies. The Company's proprietary library design and presentation technology allows it to discover full-length human antibodies with broad epitope coverage, high affinity and therapeutic relevance faster than any current technology. Adimab is led by Dartmouth professor Tillman Gerngross, a co- founder of prior Borealis portfolio company, GlycoFi (acquired by Merck & Co.). Adimab is based in Lebanon, NH at the Dartmouth Regional Technology Center.

FetchDog is a Portland, Maine based catalog, e-commerce, media and information company dedicated to serving the comprehensive needs of passionate dog owners. Launched less than two years ago, the Company has grown revenues quickly and gained recognition for offering quality products, state-of-the-art catalogs and e- commerce platform, extensive on-line resources and blogs, and initiatives to support animal shelters and other non-profit organizations. FetchDog's team of seasoned company-builders includes co-founders David Shaw (IDEXX) and William End (Eddie Bauer, Lands' End, L.L. Bean) and CEO Claude Sheer (Ziff-Davis and Beliefnet). Borealis led the Company's first institutional round and Borealis partner Phil Ferneau joined the board.

Foodbuzz focuses on the innovative use of technology to deliver highly engaging community experiences to publishers and micro-publishers that target the audience of consumers interested in food, cooking and dining. Foodbuzz aggregates the attractive advertising inventory that these publishers have created into a vertical ad network that it then delivers to premium advertisers (e.g. Quaker, American Express) hungry to reach the young, urban, well-off audience that comprises this demographic group. Foodbuzz has grown dramatically since its stealth launch at the beginning of 2008, attracting more than 1600 publishing partners and delivering 30 million adviews to 5 million unique users monthly. Borealis is Foodbuzz's first institutional investor and Matt Rightmire joined the board.

Avedro is rapidly advancing its proprietary Keraflex technology, an incision-less vision correction procedure that was originally developed at Dartmouth. Avedro is scheduled to commence clinical trials shortly, to be followed within the year by product launch in Europe.

Bar Harbor Biotechnology (BHB) has signed a sales partnership agreement with Lonza, one of the world's leading suppliers to the pharmaceutical, healthcare and life science industries, making Lonza the sole global distributor of BHB's StellARray Gene Expression System products.

Envista, the exclusive provider of web-based software for infrastructure project coordination, recently announced its first milestone of maintaining information on more than 50,000 built infrastructure projects since its launch in May 2008. The company is currently working with over 38 towns, utilities, and transportation agencies from the US and Canada in pilot programs or as subscribers.

Experienced online executive Simon Khalaf has joined the team at Flurry as CEO and is leading the company in a new direction. During the second half of 2008, the team developed the first analytics platform for mobile applications, a critical component of the value chain required to develop the mobile media business.

Founder Dan Smith has taken the reins of go2 Media and is leading a more focused team to build the most valuable local entertainment experience for mobile customers. Early results from this strategic redirection look promising.

Handmark has firmly established itself as the leading source of consumer-friendly access to news, reference and "infotainment" content in the exploding smartphone market. The company nearly doubled revenue in 2008, achieved profitability, and grew the active user count for its flagship Pocket Express product and its games and other applications by more than five times to nearly 2 million.

Makeover Solutions continued to experience rapid growth throughout 2008 as the leader in the digital beauty category. The company serves more than 4 million users each month at its own website and millions more in partnership with leading publishers and cosmetic brands.

Following a successful completion of an early release program with nine customers, Newforma announced a mid-February general release of Newforma Project Center Sixth Edition. Sixth Edition advances Newforma's support for the multi-step, multi-party, highly interactive and highly involved processes of Integrated Project Delivery (IPD) and now supports the complex process of LEED certification administration and the emerging digital workflows required for BIM-based design.

Chris Randles has joined SpaceClaim as President and CEO. Chris was most recently an Entrepreneur-in-Residence with Borealis Ventures and a key member of our Prouty Ultimate team (see below). SpaceClaim just announced new versions of its software, designed to give engineers and industrial designers the flexibility to capture ideas quickly, edit solid models from other CAD packages, and prepare designs for analysis, prototyping, and manufacturing.

Vico Software, who recently announced an integration plan with Autodesk products for the commercial construction market, is now shipping this new software platform, dubbed Vico Office. With Vico Office, users of Revit, Tekla, and ArchiCAD BIM software can now publish to the Vico environment for robust estimating and scheduling capabilities. The first review of the solution is out, as well. According to the reporter, "Vico Office will be the most comprehensive BIM estimating and scheduling program available."

Borealis moved our Concord office to the vibrant community of Portsmouth, NH. The move has given us an opportunity to enrich our local network and strengthen our ties to institutions such as the Whittemore School of Business at UNH. Since the move we have hosted events both large and small including a dinner with local historian Dennis Robinson, who walked guests through the entrepreneurial history of Portsmouth, an evening with Boston Globe columnist and author Scott Kirsner, and this spring Jesse Devitte will continue his work matching seasoned business leaders with students as part of the mentorship program for the Meaning of Entrepreneurship course at UNH.

Registration is open for the Annual Prouty Century Bike Ride & Challenge Walk and we hope you can join Team Borealis for this fun event. The 2009 Prouty will take place on Saturday, July 11, 2009. Biking and walking through VT and NH is a great way to spend a summer day, but by participating in the Prouty you have the added benefit of raising funding for vital research work at Dartmouth Hitchcock Medical Center's renown Norris Cotton Cancer Center. All team members and supporters are invited to join us for an informal dinner the night before to make sure all are well fueled for the effort.

We hope that you will join us in this important endeavor. To register for our team please email meagan @borealisventures.com for more information.