2024-04-08T13:29:16-05:00 2023-06-30 871353108 EISNER ADVISORY GROUP LLC 130 NORTH 18TH STREET SUITE 3000 PHILADELPHIA PA 191032757 990 2022-07-01 460481876 BIOADVANCE DBA THE BIOTECHNOLOGY GREENHOUSE OF SOUTHEASTERN PENNSYLVANIA BIOA 6102300536 170 N RADNOR-CHESTER ROAD 350 RADNOR PA 19087 SHAHRAM HEJAZI CEO & MANAGING DIRECTOR 6102300536 2024-03-19 1 SHAHRAM HEJAZI 999009999 1 HELEN M MARTIN P01330899 2158818800 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z THE BIOTECHNOLOGY GREENHOUSE OF SOUTHEASTERN PENNSYLVANIA SHAHRAM HEJAZI 170 N RADNOR-CHESTER ROAD 350 RADNOR PA 19087 9022404 0 X WWW.BIOADVANCE.COM X 2002 PA BIOADVANCE WAS ESTABLISHED IN 2001 AS ONE OF THREE LIFE SCIENCES GREENHOUSES FUNDED WITH A SHARE OF PENNSYLVANIA'S NATIONAL TOBACCO SETTLEMENT REVENUES, TO PROMOTE HUMAN HEALTH BY SUPPORTING BIOMEDICAL INNOVATION IN THE SOUTHEASTERN PA REGION. BIOADVANCE DEDICATED $25 MILLION OF THE ORIGINAL GRANT FUNDING FOR PRE-SEED AND EARLY-STAGE FUNDING TO HELP MOVE TECHNOLOGIES TO THE NEXT STAGE OF DEVELOPMENT AND TO SUPPORT THE INITIATIVES INTENDED TO INCREASE THE REGION'S STRENGTH IN BIOMEDICAL INFORMATICS AND CLINICAL TRIALS. SINCE THE ORIGINAL GRANT FUNDING WAS EXPENDED, BIOADVANCE CONTINUES TO SUPPORT EMERGING LIFE SCIENCES COMPANIES IN SOUTHEASTERN PA AND THE SURROUNDING MID-ATLANTIC REGION THAT ARE FOCUSED ON TECHNOLOGIES TO IMPROVE HUMAN HEALTH. AS OF JUNE 30, 2023, A TOTAL OF $67.0 MILLION HAS BEEN INVESTED BY BIOADVANCE IN 106 COMPANIES AND ACADEMIC TECHNOLOGIES. 8 7 6 8 0 0 1000000 1352745 798023 -1090523 495605 1139187 229958 184883 2523586 1586292 0 0 0 0 1414703 1772776 0 0 0 863818 735743 2278521 2508519 245065 -922227 73104917 81948557 301566 4605680 72803351 77342877 X BIOADVANCE WAS ESTABLISHED IN 2001 AS ONE OF THREE LIFE SCIENCES GREENHOUSES FUNDED WITH A SHARE OF PENNSYLVANIA'S NATIONAL TOBACCO SETTLEMENT REVENUES, TO PROMOTE HUMAN HEALTH BY SUPPORTING BIOMEDICAL INNOVATION IN THE SOUTHEASTERN PA REGION. BIOADVANCE DEDICATED $25 MILLION OF THE ORIGINAL GRANT FUNDING FOR PRE-SEED AND EARLY-STAGE FUNDING TO HELP MOVE TECHNOLOGIES TO THE NEXT STAGE OF DEVELOPMENT AND TO SUPPORT THE INITIATIVES INTENDED TO INCREASE THE REGION'S STRENGTH IN BIOMEDICAL INFORMATICS AND CLINICAL TRIALS. SINCE THE ORIGINAL GRANT FUNDING WAS EXPENDED, BIOADVANCE CONTINUES TO SUPPORT EMERGING LIFE SCIENCES COMPANIES IN SOUTHEASTERN PA AND THE SURROUNDING MID-ATLANTIC REGION THAT ARE FOCUSED ON TECHNOLOGIES TO IMPROVE HUMAN HEALTH. 0 0 1570248 -905632 GREENHOUSE PROGRAM - THE CORNERSTONE OF BIOADVANCE INVESTMENT ACTIVITIES - WAS LAUNCHED TWO MONTHS AFTER RECEIVING THE DCED GRANT. THE PROGRAM FUNDS YOUNG COMPANIES FOR RESEARCH, DEVELOPMENT AND COMMERCIALIZATION ACTIVITIES THAT WILL PROVIDE ENOUGH PROGRESS TO ENABLE THEM TO ATTRACT VENTURE CAPITAL OR AN INDUSTRY PARTNER. INDIVIDUAL COMPANIES ARE ELIGIBLE TO RECEIVE UP TO $1,500,000 WHICH OFTEN IS DISBURSED AS MILESTONES ARE ACHIEVED, UNLESS THE CAP IS INCREASED BY THE BOARD. THE INVESTMENTS ARE IN THE FORM OF EQUITY OR A NOTE THAT CONVERTS INTO EQUITY UPON A SPECIFIED MINIMUM SIZE OF DOLLAR FUNDING. 1570248 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 14 0 1 6 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X ROBERT DRISCOLL DIRECTOR OF FINANCE 6102300536 170 N RADNOR-CHESTER ROAD SUITE 350 RADNOR PA 19087 SHAHRAM HEJAZI CEO & MANAGING DIRECTOR 32.00 X X 329086 0 57584 STEPHEN D'ETTORRE DIRECTOR (THRU 12/22) 0.50 X 0 0 0 PHILIP GERBINO PHARMD DIRECTOR 0.50 X 0 0 0 JOHN GILL DIRECTOR 0.50 X 0 0 0 J LARRY JAMESON MD PHD DIRECTOR 0.50 X 0 0 0 LAUREN LENFEST DIRECTOR 0.50 X 0 0 0 STEVEN NICHTBERGER MD DIRECTOR 0.50 X 0 0 0 NEIL FOWLER DIRECTOR 0.50 X 0 0 0 BARBARA S SCHILBERG DIRECTOR 0.50 X 0 0 0 FREDERICK JONES VP AND SECRETARY 40.00 X 331836 0 62513 GREG HARRIMAN VP AND ASST SECRETARY 24.00 X 194362 0 5831 ROBERT DRISCOLL DIRECTOR OF FINANCE 40.00 X 215197 0 46514 MARNIE MCCOY PROGRAM DIRECTOR 40.00 X 135506 0 16648 1205987 0 189090 5 0 1 0 0 1352745 1352745 NET LOSS ON PROGRAM-RELATED INVES 525990 -1090523 -1090523 -1090523 1226804 10508 1216296 174383 174383 10500 0 10500 10500 10500 7348495 7436112 -87617 -87617 -87617 1586292 -905632 0 1139179 999049 920273 78776 632130 335800 296330 10872 4573 6299 53939 28943 24996 76786 59125 17661 62418 50151 12267 48000 48000 148497 103943 44554 11286 11286 31126 31126 244154 244154 2690 2690 300 300 2861 2861 76975 76975 DATABASE 66906 66906 MEMBERSHIPS 11215 11215 SPONSORSHIPS 10840 10840 EVENT COSTS 7896 7896 10579 534 10045 2508519 1570248 938271 0 88966 6824 29824613 17037823 155063 366043 263177 256735 4702 6442 14861197 26908073 28170376 37436064 0 187288 73104917 81948557 301566 349090 4067595 0 188995 301566 4605680 X 72803351 77342877 72803351 77342877 73104917 81948557 X -922227 261920 5199833 X 0 1 X 1 0 X 1000000 1241666 1000765 1000000 1352745 5595176 1000000 1241666 1000765 1000000 1352745 5595176 5595176 1608758 2237090 879393 579600 1401187 6706028 12301204 125783 0.45480 0.47120 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 20017 0 0 20017 0 PART II-B, LINE 1: BIOADVANCE PAID GREENLEE PARTNERS LLC FOR ITS SHARE OF FEES TO MEET WITH STATE LEGISLATORS TO ADVOCATE ON BEHALF OF BIOADVANCE AND TWO OTHER LIFE SCIENCE GREENHOUSES. 165927 165927 0 97250 90808 6442 6442 COMMON & PREFERRED INVESTMENTS 31437034 F INVESTMENT IN PLSG ACCELERATOR 25000 F NOTES RECEIVABLE 5974030 F 37436064 LEASE LIABILITY 188995 188995 X 2764432 0 2764432 -1178140 -1178140 1586292 2508519 0 2508519 0 2508519 PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS CLASSIFIED BIOADVANCE AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY, IF BIOADVANCE HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY A GOVERNMENT AUTHORITY. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY BIOADVANCE AND HAS CONCLUDED THAT AS OF JUNE 30, 2023 AND 2022, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. BIOADVANCE RECOGNIZES INTEREST AND PENALTIES ASSOCIATED WITH INCOME TAXES, IF ANY, AS PART OF INTEREST AND ADMINISTRATIVE EXPENSES. NO INCOME TAX-RELATED INTEREST AND PENALTIES WERE RECORDED FOR EITHER OF THE YEARS ENDED JUNE 30, 2023 OR 2022. PART XI, LINE 4B - OTHER ADJUSTMENTS: REALIZED GAIN/LOSS ON CASH INVESTMENTS -87,617. REALIZED GAIN/LOSS ON PORTFOLIO INVESTMENTS -1,090,523. X X X 0 0 0 0 0 0 0 0 0 FREDERICK JONES VP AND SECRETARY 288911 0 42925 0 0 0 9150 0 53363 0 394349 0 0 0 SHAHRAM HEJAZI CEO & MANAGING DIRECTOR 286486 0 42600 0 0 0 9150 0 48434 0 386670 0 0 0 ROBERT DRISCOLL DIRECTOR OF FINANCE 195897 0 19300 0 0 0 6510 0 40004 0 261711 0 0 0 GREG HARRIMAN VP AND ASST SECRETARY 179010 0 15352 0 0 0 5831 0 0 0 200193 0 0 0 MARNIE MCCOY PROGRAM DIRECTOR 123406 0 12100 0 0 0 4091 0 12557 0 152154 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B BEFORE THE FORM 990 IS FILED WITH THE IRS, THE FORM IS DISTRIBUTED TO THE ORGANIZATION'S BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENTS. FORM 990, PART VI, SECTION B, LINE 12C PERIODICALLY, THE ORGANIZATION HAS ITS EMPLOYEES AND BOARD OF DIRECTORS SIGN A CONFLICT OF INTEREST STATEMENT. FORM 990, PART VI, SECTION B, LINE 15 BIOADVANCE RECOMMENDED TO THE ORGANIZATION'S COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS THE SALARY INCREASE FOR ITS CEO AND OFFICERS FOR THE YEAR. AFTER REVIEW AND DISCUSSION, THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS DETERMINED THE APPROPRIATE SALARY INCREASES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON PORTFOLIO INVESTMENTS 5,199,833. BIOADVANCE LIMPAR INC 3711 MARKET STREET 8TH FLOOR PHILADELPHIA PA 19104 201241653 INACTIVE PA 501(C)(2) N/A BIOADVANCE 1 BIOADVANCE GP II INC 3711 MARKET STREET 8TH FLOOR PHILADELPHIA PA 19104 201226546 INACTIVE PA BIOADVANCE C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0