12 High-Potential Companies Selected for ABCT Annual Program
BRANFORD, Conn., Jan. 6, 2020 /PRNewswire-PRWeb/ -- ABCT, the Accelerator for Biosciences in Connecticut, today announced the second cohort of emerging biosciences ventures invited to participate in the annual program. Twelve ventures will participate in the 6.5-month-long program that features business education to develop fundable business plans and a professional network. All startups will receive an entrepreneur coach, access to active business professionals and support with preparation to pitch to investors.
The selected startups were chosen following an extensive screening process. Expert scientists, active investors and business strategists rated the ventures based on metrics such as the strength of the team, uniqueness of insights into the problems they are solving and their capacity to revolutionize the life sciences industry.
The 2020 ABCT cohort participants and ventures include:
- Abhijit Patel (Yale): Binary Genomics aims to develop and commercialize a blood test to enable early cancer detection via tumor- derived DNA signatures in the circulation.
- Chad Bouton (Independent): Neuvotion technology treats those living with paralysis and movement disorders through AI-driven neurostimulation that modulates specific nerve and muscle targets to restore functional movement.
- David Rowe (UConn): Cloud based generation and analysis of biologically meaningful fluorescent histological signals from mineralized tissue to assess regenerative, therapeutic and genetic challenges affecting the skeletal system.
- Elizabeth Cusack (Independent): RBK Biotech has developed a nutritional product optimized for cancer care aimed at preventing and alleviating cancer related nutritional crisis and metabolically rooted treatment side effects.
- Henry Smilowitz (UConn): Iodine nanoparticles that enhance radiotherapy useful in better treating brain tumors and other cancers.
- Jayme Coates (Independent): Lactation Innovations Manoula is a non- invasive medical grade sensor that accurately detects the quantity of breast milk during breastfeeding to reduce prevalence of hypernatremic dehydration.
- Lawrence Silbart (Independent): Bandage Products LLC Therapeutic produces advanced wound care products using non-toxic biodegradable microneedles to 'heal skin wounds and infections from the inside out.
- Mark Roser (Independent): Results Group has developed a passive ankle-foot exoskeleton that inserts a spring in parallel to the Achilles tendon to improve propulsion and plantar off-loading.
- Mrinal Kumar (Independent): OnTrack Rehabilitation stimulates patient balance and vision to drive faster, safer, concussion recovery.
- Triantafyllos Tafas (Independent): QCDx develops a novel liquid biopsy to deliver precision cancer diagnosis via early cancer detection, monitoring of treatment efficacy, and surveillance for disease recurrence.
- Thomas Wilson (Independent): Interact Medical delivering the clinical benefits of patient-matched implants and innovative 3D- printable materials to more patients through a focused, expedited service.
- Yaw Ofuso Ansong Jr. (University of New Haven): Kova is building an AI-backed medical diagnostic platform that makes the diagnosis of sickle cell and other blood diseases cheaper, on-demand and more efficient.
Members of last year's cohort have since accomplished a number of important milestones. Choukri Ben Mamoun of ELIV5 was awarded 2nd place in the Yale Innovation Summit pitch competition, won the Yale Pitchfest and was awarded an Small Business Innovation Research grant (SBIR). Qi Zhao of Enrich Therapeutics won an SBIR and moved into BioCT's Innovation Commons incubator in Groton. Tom Wenchell of RevMedica closed the company's seed round. Jeremy Wiygul of Pelex won 2nd place at the Weill Cornell Pitch Competition and closed his company's seed round. Ludmila Kvochina of MIDA/Vanessa Research advanced her diagnostic and started clinical trials.
For more information on these ventures and their successes, read the Impact Report for ABCT 2019 found at ABCT.co.
ABCT also announced the addition of Tom Gerson, resident of Old Saybrook to its team. Tom serves as Head of Coaching.
ABCT is initiated by CTNext and supported by Marcum LLP, Wilson Sonsini Goodrich & Rosati PC, Kaneka, Pfizer, Shipman and Goodwin, Wiggin and Dana, and AON.
ABCT is a competitive-entry, six-month-long program that helps emerging bioscience ventures grow by providing entrepreneurship education and business networking to access global funders and prospective team members. ABCT supports the development of Connecticut as a hub of bioscience invention and commercialization by harnessing the creativity and ambition present in the state's academic institutions, spinouts from established institutions and serial entrepreneurs. Through its Pitch to Build Your Venture events, it connects talent to start-ups. Through ABCT CE events it supports entrepreneurs with education and networks critical to start successful bioscience-based businesses. For more information, visit http://www.ABCT.co.
About Design Technologies
Design Technologies helps build emergent intellectual property (IP)–focused ventures and founded ELabNYC, the successful biosciences pre-accelerator program in New York City for research institution spinouts. ELabNYC ventures have raised over $400M, including Yiviva, a Yale spinout from Yung-Chi Cheng's lab, Landos Therapeutics, Cresilon, Histowiz and Carespeak (OptimizeRx).