Biotechnology Business Plan Competition
May 2002

Sponsored by:

These are the entries to the May 2002, Biotechnology Business Plan Competition:

Acceleration Biopharmaceuticals - ! SECOND PLACE !

Product/Service: Drug Discovery and Development
Contact: Ralf Geiben Lynn
acceleration@rcn.com
Phone: (617) 924-8918

Acuta is founded on the basis of a targeted nanoparticle technology from which we can derive a stream of animal and human applications. The first product, the Acuta Pet Sterilization System (PSS) is intended to be a simple and quick injection that causes immediate, permanent sterilization
of a companion animal (a $960 MM market). The system aims to retain all the health and behavioral benefits of the surgical approach by acting at the source and preventing the release into the bloodstream of the hormones that enable sexual function. Therefore, our product offers both veterinarians and pet owners an easier, quicker, and significantly more pet-friendly option to surgery. The second product provides for a non-invasive drug delivery mechanism for all macromolecular therapeutics developed by pharmaceuticals, such as proteins, DNA, and cells, of which 140-160 are expected to gain FDA approval in the next year alone. Current mechanisms can only deliver small molecule drugs.

Biopsic is a biochip company that provides a revolutionary microarray/scanner system for the research and clinical community. Microarray systems are widely used nowadays and will continue to be the dominant technology for DNA analysis, new drug discovery and disease inspection. The world biochip market will reach 3.3 billion dollars in 2004. The existing microarray scanner systems, however, are bulky and expensive. Biopsic's patent-pending technologies provide a solution that combines the state-of-the-art optoelectronics technologies and silicon IC fabrication to achieve a highly integrated, high signal-to-noise ratio, compact and low-cost system. In the first two years, Biopsic will focus on prototyping the microarray/scanner system, which will target at academic research laboratories in U.S. After the first stage, our product development will focus on clinical applications for medical institutions, military units and general customers. We expect to break even by year three with 8.5 million of seed funding. Going to IPO at the fifth year will be our main exit strategy. Meanwhile, Biopsic will be a perfect target for acquisition because of our attractive patented technologies.
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Neurological disease is among the most devastating intrusions into the life of an individual, and the costs of treatment and lost productivity represent an astronomical burden to society. The body of knowledge pertaining to the functioning of the nervous system and the underlying biological processes is advancing at a breathtaking pace. Consequently, the potential arsenal of tools to intercede in disease progression and to modulate the function of aberrant structures has realized unprecedented expansion. Conditions amenable to neurological intervention not only include traditional neurodegenerative diseases, stroke, and neurotrauma; but many systemic conditions, including obesity and other metabolic derangements are potential applications. By embodying intimate familiarity and expertise in knowledge of disease processes, medical practice and surgical technique, available and emerging therapies, biological and engineering technologies, and the management of business and technology, Cortical Technologies embarks on a mission to creatively identify and develop novel technologies to produce effective and marketable solutions treat neurological and other diseases in a cost effective and safe manner.
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Photochemical Tissue Bonding (PTB) is the most spectacular of the latest developments in photo-activated therapy and the many possible applications of this technology provide an outstanding foundation for a startup company. Through the application of a photo-sensitive compound to two wound surfaces and its subsequent activation by visible light, collagen molecules will crosslink across the tissue surfaces and form strong covalent bonds. The resulting seal is both watertight and strong. Additionally, the bond itself is made up of the subject’s own tissue, therefore leading to a quicker recovery and an elimination of toxicity problems. The PTB technique has been developed at Massachusetts General Hospital’s Wellman Laboratory, where many light based therapies have been pioneered. Its impact will be widely felt in fields ranging from ophthalmology to orthopedics, and this breakthrough will position Crosslink’s products as the defining standard in a market projected to reach at least $2 billion by 2005.
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Platypus Technologies was founded in April 2000 in Madison, Wisconsin to commercialize nanotechnological products for life sciences. The company's patented technology will be utilized to detect and report the presence of proteins in drug discovery, specifically targeting cancer research, and will greatly expedite advancements in drug development. To date, the company has secured $1.9 million in government grants and $1 million in angel investment to develop an initial prototype of its commercial product. Platypus expects to have its assay products to market in quarter three of 2004 and projects revenues of $98 million and net income of $23 million in 2006.
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Pulmatrix - ! FIRST PLACE !

Product/Service: Inhalation Therapy

Contact: Jonathan Man

jman@fas.harvard.edu

Phone: (617) 216-9145
 

Pulmatrix's platform technology makes pulmonary drug delivery of proteins and macromolecules a viable alternative to injectable drugs. Inhalation drug therapy, while not a new idea, has not been able to realize its full potential largely due to the fact that large proteins absorb poorly into the bloodstream through lung tissue. Using an organic solvent, our drug formulations increase the sterility, stability and bioavailability of a therapeutic agent, while lowering the cost compared to current injectable drugs.

Septegen - ! Runner Up !
Product/Service: GPCR Drug Development

Contact: John Davey

JDavey@Septegen.fsnet.co.uk

Phone: +44 (0) 2476 524204
 

Sterling Pharmaceuticals, Inc. has discovered and developed a next-generation biocompatible, elastomeric resin for the treatment of Stage I through Stage III wounds, including first and second degree burns. WOUNDSTAR is a unique value proposition for healthcare providers and payers because the flexibility of its formulation allows the product to meet multiple therapeutic needs while reducing costly and time intensive processes such as debridement. The product represents an improvement for patients because it significantly reduces the pain and scarring typically associated with moderate to severe wounds. The WOUNDSTAR product is a platform technology because it is a compound that can be formulated to meet a number of very specific therapeutic needs. The ability to provide a wound dressing with variable adhesion, elasticity, moisture transfer, debridement and anti-infective properties allows the Company to pursue markets in multiple therapeutic areas. Significant cost and performance advantages differentiate WOUNDSTAR from currently available dressings for Stage I through Stage III wounds. WOUNDSTAR will have a measurable net cost advantage over other single and combination wound dressing products because the technology reduces both the demands placed on healthcare providers and general discomfort in patients. This is significant because direct labor and recovery time are two primary cost drivers in healthcare. WOUNDSTAR will also enjoy margin advantages over competing wound dressings with more complex manufacturing processes. This will be especially true in specific high cost markets, such as burns, where the product will first be introduced. The Company expects to gain FDA approval for additional indications to expand into the greater wound care market.