OneThree Biotech Wins “Best in Show” at 1st Pitch Life Science Competition
Company’s Unique Process of Drug Targeting May Significantly Decrease Time to Development
Source: Mid Atlantic Bio Angels
NEW YORK, March 23, 2017 (GLOBE NEWSWIRE) — Mid Atlantic Bio Angels (MABA) announces today that OneThree Biotech (OneThree), a New York-based company developing artificial intelligence technology to more rapidly identify drug targets and side effects, was named “Best in Show” at MABA’s 1st Pitch Life Science event on March 13, 2017 at Weill Cornell Medical Center in New York City.
“Presenting at 1st Pitch was an amazing opportunity to obtain candid investor feedback, which will dramatically shape our business development going forward,” said Neel Madhukar, CEO of OneThree Biotech.“We left even more determined to use artificial intelligence to change the way drugs are discovered and developed. We were honored to have been selected as the ‘Best in Show.’”
“OneThree’s unique technology has the potential to streamline the new drug approval process through early identification of potential delivery targets and side effects,” said David Broderick, partner at the law firm of McCarter & English, LLP.
OneThree Biotech is developing an artificial intelligence platform to more rapidly identify drug targets. Unlike other approaches, OneThree’s platform uses its novel algorithms to combine diverse data types beyond the molecular structure of the drug in question. This allows the platform to more accurately identify targets and side effects (up to 90 percent accuracy) with greater flexibility and speed.
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.