By Karen Deyo, Investor Research Analyst, LSN
This past Monday, June 3rd, 35 companies representing 9 countries competed in the RESI Innovation Challenge. These companies showcased their exciting technologies, from therapeutics to diagnostics, medical devices to digital health. Taking place at the Convene Cityview in Philadelphia, RESI attendees ‘invested’ their RESI Cash in their favorite companies. We congratulate all finalists selected to participate, and we are delighted to announce the winners – the three companies that received the most RESI Cash. Check them out below!
First Place: Soundable Health Inc
Soundable Health is a digital health company with leading sound AI technology. Our mission is to help people to understand and manage their health and diseases easily to live with dignity. Our first product, PRIVY™, is a mobile app that records the sound of the urine stream on the smartphone at the bathroom and turns it into clinical-grade urine flow exam results for prostate and bladder patients and their physicians. Through alpha and beta test we launched the open-beta app in the US and Korea and have collected over 4000 actual measurement data and results from users and physicians. Especially, over 100 physicians we met in Korea and in the US notice the possibility of the platform for greatly improving clinical workflow and care process. Including Massachusetts General Hospital, Texas Children’s Hospital and Seoul National University Hospital, 6 clinics/hospitals have been participating in clinical researches since 2017. Also, health insurance companies and pharma companies are very much interested in the world’s first & largest real-world data in urology. We’re planning to start unpaid pilots in private practices and institutional settings from June and aim to expand partners for paid pilots with initial revenue by early 2020.
Catherine J Song, Founder & CEO, Soundable Health
Second Place: Drusolv Therapeutics
Drusolv Therapeutics is a clinical-stage drug company based in Philadelphia. We are developing a novel, high-dose statin for early intervention in a blinding eye disease called age-related macular degeneration (AMD). AMD is the leading cause of blindness in developed countries, affecting more people than glaucoma and diabetic retinopathy combined. Unfortunately, there are currently no drugs for intervention before the onset of late-stage vision loss. This is a $4B per year, completely unmet need. Our product, Ocustatin™, was developed at Harvard University. A very successful proof-of-concept clinical trial has shown that early intervention with Ocustatin substantially reduces progression to late-stage blindness. The founder and CEO of Drusolv is a successful serial entrepreneur with extensive experience in AMD.
John Edwards, CEO, Drusolv Therapeutics
Third Place: AIBIOS Co Ltd
AIBIOS, CO., Ltd. is a private pharmaceutical company and specializes in the development of novel small molecule drugs for inflammation related diseases. AIBIOS’s mission is to develop novel drugs modulating immune responses to satisfy highly unmet medical needs. AIBIOS is developing an oral drug for inflammatory bowel disease (IBD). The drug candidate, AIB301, has a novel mechanism of action exerting biological effects in modulating immune responses in intestinal mucus, not only the adaptive immune system but also the innate immune system, which distinguish itself from other drugs and drug candidates for IBD treatment. AIB301 is in IND enabling stage with GMP grade drug substance will be delivered in June 2019 and soon will be evaluated with GLP toxicity preclinical studies.
Chao Pin Lee, Chief Operating Officer, AiBIOS
Akio Sato, CEO, AIBIOS
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