CalbaTech hopes to give the green light to new life sciences research technology. Formerly known as Traffic Technology, it once developed traffic light systems. However, in 2003 the firm changed its name and focus. CalbaTech now looks to build a portfolio by buying companies that develop new technologies to sell or license; it also targets universities that are planning to license technology developed in academic labs. The firm is interested in products that will generate sales or licensing revenue within two years and need less than $1 million. Among its acquisitions are MolecularWare and iStem Technologies.