WEST LAFAYETTE, Ind. — En’Urga, Kylin Therapeutics and Passageways, three Purdue Research Park-based firms, were named by the Indiana Economic Development Corp. in its second annual list of 50 Companies to Watch.

“These three companies represent some of the key economic sectors – life sciences, information technology and engineering – that will diversify and strengthen Indiana’s economy,” said Joseph B. Hornett, senior vice president, treasurer and COO of the Purdue Research Foundation, which manages the Purdue Research Park. “Recognition in the Companies to Watch program is a great honor for an entrepreneur, especially when you consider that nearly 450 companies were nominated for the award.”

The program is sponsored by the Indiana Economic Development Corp. and its Small Business Development Center network; Barnes & Thorburg LLP; KeyBank; Premier Capital Corporation; Katz, Sapper & Miller; Purdue University; and the Edward Lowe Foundation. An awards ceremony will be held Aug. 27 at the Indiana Roof Ballroom in Indianapolis.

The Purdue Research Park-based firms included in the 2009 list include:

En’Urga Inc., which helps some of the world’s largest manufacturers, utility companies and government agencies maintain quality and efficiency while protecting the environment through its products and contract services in combustion diagnostics and combustion systems analysis.

Kylin Therapeutics Inc., a biotechnology company that employs an RNA nanoparticle technology platform called pRNA to exploit the enormous potential of RNA interference (RNAi) for treatment of many common diseases. This platform has enormous potential to meet the huge market opportunity for treating cancer and other diseases with RNA-based therapeutics. The unique capabilities of the platform have enabled Kylin to overcome the most significant challenges in the development of RNA-based therapies.

Passageways LLC, a leading portal provider to the community bank and credit union industry. Passageways’ mission is to provide an affordable portal strategy for financial institutions of all sizes, helping employees, directors and partners become more efficient in collaboration and communications.

Last year, Purdue Research Park-based companies named as Companies to Watch were Cook Biotech Inc., Endocyte Inc., Next Wave Systems LLC, Quadraspec Inc. and Simulex Inc.

WEST LAFAYETTE, Ind. — Purdue University’s Student-Managed Venture Fund, administered by the Burton D. Morgan Center for Entrepreneurship and the Krannert School of Management, is investing $100,000 in Kylin Therapeutics Inc.

The funding is part of a $2 million round of financing led by In-vivo Ventures and Golden Pine Ventures. The funds will help advance Kylin Therapeutics’ lead cancer therapy to the marketplace.

Kylin Therapeutics, located at Purdue Research Park, is in the preclinical stage of commercializing a technology called pRNAi. Based on a Purdue discovery, the technology uses RNA and a natural process called RNA interference (RNAi) to target and “turn off” disease-causing genes.

“We believe the pRNAi platform has superior functionality and will be able to be delivered systematically,” said Eric Davis, Kylin’s president and CEO.

The $100,000 investment stems from a degree program for Krannert MBA students. They analyzed Kylin’s business plan and decided to invest in the Indiana company. Stephanie Williams is a first-year MBA student in Krannert who participated in the due-diligence process on Kylin.

“Our team had the opportunity to meet with the Kylin management team while they assisted with our process of data collection,” Williams said.

Davis said the Student-Managed Venture Fund and Burton D. Morgan Center for Entrepreneurship are assets in economic development not only for Purdue and West Lafayette, but also for the entire state.

“Indiana entrepreneurs and startup company executives seek resources to strengthen their own network and to develop financial support,” Davis said. “These resources and others make the city and state very attractive to high-tech and life sciences entrepreneurs and business executives.”

Kylin was awarded the funding in the 2008-2009 academic year. Davis said the company will use the funding to develop its lead cancer treatment.

“Research in this area shows promise in treating prostate cancer, ovarian cancer and other diseases,” he said.

With current assets of $130,000, the Student-Managed Venture Fund has $25,000 for its next planned investment in fall 2009, said Purdue professor Kenneth Kahn, the Avrum and Joyce Gray Director of the Burton Morgan Center.

“The Student-Managed Venture Fund serves as an investment vehicle to spur commercialization of Purdue research,” Kahn said. “Just as importantly, the fund is an educational vehicle to provide hands-on understanding of venture capital and investment for the university’s entrepreneurially minded students.”

About Burton D. Morgan Center for Entrepreneurship

The Burton D. Morgan Center for Entrepreneurship is Purdue’s interdisciplinary hub for entrepreneurship. Through its sponsored initiatives, including the Certificate in Entrepreneurship and Innovation, Technology Realization Program, Entrepreneurial Leadership Academy and Business Plan Competitions, the center aims to stimulate entrepreneurship at Purdue and serves as a state, regional and national resource. Located in Discovery Park, the Burton Morgan Center leads Purdue’s Kauffman Campuses Initiative and plays a key role in facilitating business development for emerging concepts and technologies stemming from Discovery Park research.

About Kylin Therapeutics

Kylin Therapeutics Inc. is a biotechnology company that employs an RNA nanoparticle technology platform called “pRNA” to exploit the enormous potential of RNA interference (RNAi) for treatment of many common diseases. This platform has potential to meet the huge market opportunity for treating cancer and other diseases with RNA-based therapeutics. The unique capabilities of the platform have enabled Kylin to overcome the most significant challenges in the development of RNA-based therapies.