By Natasha Eldridge, Director of RESI Conference Series, LSN
On Tuesday September 26th, RESI Boston was host to the largest RESI Innovation Challenge yet, with 40 companies competing for the “investment” votes of their fellow attendees. These innovative startups came from across the life science spectrum – develop ing novel products in biotech, medtech, diagnostics and healthcare IT, with the aim of addressing a wide range of different diseases. We hope that all will succeed in bringing their products to patients, but there could only be 3 prize winners. Without further ado, LSN would like to present the top three competitors:
First Place: Wellesley Pharmaceuticals
Nocturia, the frequent need to urinate at night, afflicts 2.3B people, causing insomnia, fatigue, depression, and lower quality of life. It leads to higher rates of heart disease, stroke, brain damage, and deadly falls, killing thousands daily. Wellesley’s Phase 2 trial ended 9/8/17. Results will be unblinded 10/2, but 50% of patients reported >25% nocturia reduction and 27% reported 40-96% benefits, with no side effects. 25% took placebo and 25% reported results averaging 0%. OAB drugs offer 10-15% benefits, bad side effects, and sell $2B/year! Licensing dozens of worldwide patents to big pharma comes next. We expect $10M upfront and 15% of revenue, while they take over all future costs, before launching our drug worldwide. Net margins should approach 95%.
Michael Quigley, VP of Investor Research, Life Science Nation | David Dill, CEO, Wellesley Pharmaceuticals | Dennis Ford, CEO, Life Science Nation
Second Place: Molecular Targeting Technologies
Molecular Targeting Technologies, Inc.’s (MTTI) TDURA is an imaging agent with a unique mechanism to “see” cell death. It is fast, sensitive and enables actionable tracking of cell damage, reducing toxicity,improving survival and minimizing healthcare costs. MTTI has demonstrated proof of efficacy in cardiotoxicity and oncology models. TDURA detected chemotherapy related cardiac dysfunction prior to existing technologies, detected tumor response to therapy as early as 1 day and distinguished responders from non-responders. TDURA is ready for clinical development. Phase II approval for the first indication is projected in 2022. Exit prior to phase III should deliver ≥$100 million value. MTTI has an experienced team, a strong IP and an innovative platform with multiple indications targeted to several unmet medical needs.
Michael Quigley, VP of Investor Research, Life Science Nation | Koon Yan “Chris” Pak, Co-Founder & CEO, Molecular Targeting Technologies, Inc. | Michael Silvon, Senior Vice President of Business Development, Molecular Targeting Technologies, Inc. | Dennis Ford, CEO, Life Science Nation
Third Place: RPS Diagnostics
RPS DIAGNOSTICS is developing FebriDx® for launch outside the USA in 2018. FebriDx is the first and only rapid, in-office test that uses a fingerstick blood sample to help differentiate viral from bacterial acute febrile respiratory infection. The FebriDx® test can be used to help triage infectious patients at the point of care, providing clinicians with a clear path to diagnosis and treatment, leading to more efficacious healthcare decisions. Test results are available in 15 minutes, allowing for an effective treatment plan to be established during the patient’s initial office visit.
Michael Quigley, VP of Investor Research, Life Science Nation | Dennis Ford, CEO, Life Science Nation | Doug Lawrence, CEO, RPS Diagnostics
Thank you to all who competed in the RESI Boston Innovation Challenge, and to all the RESI attendees who took part by investing their votes in their favorite competing companies.
Tags: announcement, application, Boston, Innovator's Pitch Challenge, NYC, RESI, Winner
On January 9th, 2018, the Redefining Early Stage Investments (RESI) Conference will join the JPM fray again for our largest event yet in San Francisco.
It’s 5 days to go until RESI Boston, and LSN would like to present the RESI Program Guide. If you’d like to check out RESI Boston’s full lineup of speakers, sponsors, exhibitors, and innovators, you can read the program guide online now. With nineteen panel discussions, five entrepreneur workshops, dozens of vendors and the largest RESI Innovation Challenge ever, RESI will offer an overwhelming amount of content for early stage life science startups and the investors and strategic partners that want to meet them. You can check out the details below.
Next Phase Newsletter 