Innova Fund II, LP
By Milt Capps Last Updated 6:06 p.m. Nov. 5, 2009
Innova Fund II, LP -- The fund is managed by Ken Woody, the general partner of Innova Memphis Inc., a for-profit subsidiary of Memphis Bioworks Foundation, which aims to make Memphis an international bioscience center. Woody is also a vice president of Bioworks. Innova's current Tennessee-based businesses include arGentis Pharmaceuticals; Vaxent (vaccine development); Extraorth Inc. (formerly, QFx Technologies); and, Cagenix Inc. (dental implants). Also, Qpass.com (Centiba) is based nearby in Mississippi. A former U.S. Army officer, Woody earned a bachelor's in zoology at North Carolina State University, in 1983. He previously worked in executive roles for GE Healthcare and Capital businesses; for DePuy Spine (Boston); and, as SVP for global sales for Smith and Nephew Orthopedics. He also served as an officer in the U.S. Army Reserves and National Guard. Prior to joining Innova, Woody maintained a business-coaching practice, operating under the ActionCOACH franchise, and sold that before joining Innova/Bioworks. Memphis Bioworks President and Executive Director Steve Bares previously spent a lengthy career with International Paper, in a series of management and technology development and commercialization roles. Bares holds bachelor's and Ph.D. in Chemistry, and a master's in business. Bioworks recently obtained $270,000 in Tennessee Technology Development Corporation funding to support bio entrepreneurs and technology commercialization.
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