Bioharmony Therapeutics Wins Mid-Atlantic Bio Angels 1st Pitch Life Science Competition
Developer of a Topical Lysin Treatment That May Heal Skin and Soft Tissue Infections due to Multi-Drug Resistant Bacteria Named “Best in Show” at New York-Based Event
| Source: Mid Atlantic Bio Angels
NEW YORK, Oct. 18, 2016 (GLOBE NEWSWIRE) — Mid-Atlantic Bio Angels (MABA) announces today that Bioharmony Therapeutics (Bioharmony), a New York-based company developing a topical treatment against Acinetobacter baumannii (A. baumannii) infection, was named“ Best in Show” at MABA’s 1st Pitch Life Science event on October 6, 2016 at Medidata Solutions in New York City.
“We are very grateful to the audience as well as the panel members of MABA for choosing our pitch as ‘Best in Show,’” commented Chandrabali Ghose, Ph.D, founder and CEO of Bioharmony Therapeutics. “Antibiotic resistance poses a significant global health challenge that needs to be addressed urgently. Development of novel and nontraditional antimicrobials such as bacteriophage lysins is one part of the solution. We hope that our novel approach will add to the precious arsenal of antimicrobials that have had a huge impact on human health since the discovery of penicillin by Alexander Fleming.”
The company is focused on developing lysin-based therapeutics especially for multidrug resistant gram-negative bacteria such as Acinetobacter, Klebsiella and E.coli that have high rates of mortality. Instead of targeting such infections when the patients become septic, Bioharmony’s technology is designed to control the infection locally either on the skin, in the lungs or in the bladder.
“A therapeutic advance in anti-microbials that is not a small molecule could create new value in a market where small molecules have not created big value in a long time,” said Craig Kenesky, Ph.D., Esq., Wilson Sonsini Goodrich & Rosati, PC, one of the panelists at the event.
“In a short time, 1st Pitch has become a vital part of NYC’s biotech ecosystem by giving a practice stage to budding entrepreneurs. Case in point, Bioharmony’s bacteriophage lysins show real promise in treating hospital-acquired, gram-negative bacterial infections, and their leadership is poised to hit-the-ground-running on a fundraising road show,” added Loren A. Busby, CFA, MABA Steering Committee Member and Managing Member at Cresco Advisors LLC. “We look forward to hearing more about this company as they advance their science and business initiatives.”
About 1st Pitch Life Science
At a 1st Pitch 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.