PolyAurum, Inc. Wins Mid Atlantic Bio Angels 1st Pitch Life Science Philadelphia Competition
Developer of Biodegradable Gold Nanoparticles for Cancer Treatment Named as “Best in Show”
September 28, 2016 08:30 ET | Source: Mid Atlantic Bio Angels
PHILADELPHIA, Sept. 28, 2016 (GLOBE NEWSWIRE) — Mid Atlantic Bio Angels (MABA) announces today that PolyAurum, Inc. (http://www.polyaurum.com) was chosen as “Best in Show” at MABA’s Philadelphia 1st Pitch Life Science event, which took place at the Cira Center on September 15, 2016. PolyAurum is a preclinical stage biotechnology company focused on the development and commercialization of biodegradable gold nanoparticles (BGNPs) for the treatment of cancer.
PolyAurum was spun out of the University of Pennsylvania as an UPstart company through the Penn Center for Innovation. The technology is a result of a collaboration between the university’s Schools of Medicine and Engineering. PolyAurum’s BGNPs accumulate selectively in the tumor and not in the healthy tissue surrounding the tumor. When radiation therapy is applied, the gold amplifies the effect, giving a better kill of tumor cells without increasing damage to healthy tissue. The company has already seen impressive results in an animal model of glioblastoma – a very difficult-to-treat brain cancer with average survival of about one year post diagnosis. Weekly injections of the company’s BGNPs given with radiation therapy has the potential to increase cancer-free survival, shorten duration of therapy and improve patient quality of life for cancer patients.
“The recognition we have received from Mid Atlantic Bio Angels validates our business approach as well as confirming the potential value of the data we have generated to date,” said Debra S. Travers, president and CEO of PolyAurum, Inc. “Until we can prevent cancer, we have to do everything we can to cure it. This technology adds another weapon in the fight against this horrible disease that affects one in three people in the United States, and we are pleased to have had the opportunity to demonstrate our dedication and technology in the 1st Pitch Life Sciences event.”
Bernard Rudnick, co-founder of MABA and principal at CapGenic Advisors LLC: “We found the company and its management to be more seasoned than typical start-ups and we generally felt that PolyAurum was poised on the cusp of being investment-ready.”
“The company had an experienced manager give a thoroughly professional pitch which clearly showed the nature of the medical issue, the relative simplicity of the proposed solution and the likelihood of uptake by the market,” added Stephen Goodman, co-founder of MABA and a partner at Pryor Cashman LLP. “They hit all the marks that an early-stage pitch should try for.”
About 1st Pitch Life Science Events
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.
View the full press release at GlobeNewswire.