Group K Diagnostics was named“Best in Show”at MABA’s 1st Pitch Life Science Philadelphia competition
Source: Mid Atlantic Bio Angels
NEW YORK, April 3, 2017 (GLOBE NEWSWIRE) — Mid-Atlantic Bio Angels (MABA) announces today that Group K Diagnostics (Group K), a diagnostics company developing a multi-test modular point of care diagnostic platform, was named“Best in Show”at MABA’s 1st Pitch Life Science Philadelphia event held on March 20, 2017 at the Cira Center in Philadelphia.
“We were very excited to be chosen as winner of ‘Best in Show’ and ‘Most Fundable,’” said Brianna Wronko, CEO of Group K Diagnostics. “We believe we fulfill a vital need for a rapid, cost-effective diagnostics for today’s patients, providers, and payers, and we appreciate the feedback from MABA as we continue to develop our business and platform in an effort to bring actionable diagnostics directly to the point of care.”
Group K is developing a low-cost, paper-based diagnostic system, providing multiple results from one patient sample within 30 minutes or less. The modular system can currently combine up to three different tests and can be read via a smartphone app, desktop app, or comparison paper guide, allowing the test to be conducted in any setting. The company strives to solve healthcare practitioners’ need for a versatile diagnostic device while striving for creativity, integrity, patient-centric focus, and continual improvement.
“This is a remarkable project, and it is great to see such entrepreneurism by young women in engineering,” said Martin D. Phillips, MD, CEO, Opsidio, LLC, one of the panelists at the 1stPitch Life Science event. “Ms. Wronko is using state-of-the-art techniques to develop an inexpensive, portable medical laboratory.”
“This is a really interesting company. The technology is ultraportable and easy to use,” added Ira Wallace, MD, an angel investor and panel member. “This technology could be the future of diagnostic testing.”
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 1st Pitch 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.