Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.

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Message: Patriot has also presented and accepted a term sheet to acquire

Patriot has also presented and accepted a term sheet to acquire

posted on Jul 21, 2008 01:39PM

Patriot has also presented and accepted a term sheet to acquire, in exchange for cash, nearly 20% of a networking provider of software to facilitate the transfer of video content to mobile devices. The term sheet outlined a small initial investment (which we have recently funded) and a second, larger, tranche that is subject to additional due diligence which we expect to complete by the end of August. Industry projections indicate that video-enabled handsets will increase from less than 5% today to more than 70% by 2011. We believe the company has differentiated technology and has recently contracted field trials with several major international carriers that will be launched before the end of 2008. I will provide more information on this opportunity in future updates as we move through the due diligence process. The companys technology is a direct hit in our target to pursue software, wireless and networking technology.

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