Asulon Therapeutics, Inc. Wins “Best in Show” at Baltimore 1st Pitch Life Science Competition
ET | Source: Mid Atlantic Bio Angels
NEW YORK, Nov. 07, 2017 (GLOBE NEWSWIRE) — Mid-Atlantic Bio Angels (MABA) announces today that Asulon Therapeutics, Inc., which develops novel small molecules for the treatment of mental health disorders, was named “Best in Show” by the audience at MABA’s 1st Pitch Life Science event held on October 24, 2017 at the Columbus Center in Baltimore.
“As a first time entrepreneur, it was great to have feedback from the experts at Mid Atlantic Bio Angels. Asulon Therapeutics is committed to developing small molecules for the rapid treatment of mood disorders, said Adam Van Dyke, Ph.D., CEO of Asulon Therapeutics. “We believe we can make a meaningful difference in the lives of millions of people suffering from debilitating mental illness. Understanding how to get our message across clearly and succinctly is what participating in 1st Pitch is all about.”
Baltimore-based Asulon Therapeutics, Inc. is currently developing a proprietary small molecule for treatment-resistant depression and suicidal ideation. The company’s current molecule has been designed to allow for more rapid uptake and more selective binding in the brain than ketamine, the current standard of treatment for these conditions. Asulon’s molecule thus emulates the rapid action of ketamine with significantly improved safety profile.
“If additional tests confirm the Company’s preliminary data, Asulon has identified a novel compound with different biochemical effects, which potentially could treat people suffering from severe depression more effectively and with potentially fewer side effects,” said Stephen Goodman, co-founder of MABA and co-head of the Life Science Group at Pryor Cashman LLP in New York City.
“The kinds of therapies that Asulon is developing are sorely needed in the market, and their presentation demonstrated progress towards commercialization. The promise of a rapid acting antidepressant is very compelling,” said R. Jacob Vogelstein, Managing Partner of the Camden Partners Nexus venture fund, and a panelist at the event.
About 1st Pitch Life Science
At a 1stPitch event (http://www.1stpitchlifescience.com), early stage life sciences and healthcare companies make a 15-minute presentation to a panel of experienced life science investors and consultants, followed by a 15-minute audience Q&A. However, where actual investors would then ask the presenting company to leave the room during their subsequent discussion, presenting companies at 1stPitch are invited to hear the panel constructively critique the company’s presentation, business model and perceived viability in the market.
Mid Atlantic Bio Angels (http://bioangels.net) is a group of active angel investors, which meets in New York City monthly (except July and August) solely to hear from pre-screened early-stage life science companies. MABA members consist of individuals from Delaware to Massachusetts with significant expertise and experience in the biotechnology, pharmaceutical and healthcare industries, including former and current corporate executives, doctors and Ph.D. scientists with product development backgrounds, successful medical entrepreneurs and analyst/investors focused on life sciences. MABA’s goal is to create an environment where the depth of investors’ knowledge coupled with the pre-screening of presenting companies enhances the potential for meaningful investment.