Sean Connell, left, and Jianming Li deliver their winning presentation during the $100,000 Purdue University Life
Sciences Business Plan Competition in Discovery Park. (By Cindy Ream/Purdue)
'Nanobubbles' development helps company nab top award
Boasting technology that relies on "nanobubbles," a company that was launched last year at the
Purdue Research Park in West Lafayette has won the seventh Purdue University Life Sciences
Business Plan Competition.
Medtric Biotech LLC picked up the $50,000 top prize for its winning presentation, and added
$10,000 from BioCrossroads for being the top Indiana company in the competition and $5,000
worth of in-kind services from both Ernst & Young LLP and Baker & Daniels LLP.
"We will be using the funds and resources for intellectual property protection, to obtain first-run
samples with a third-party manufacturer and additional research," said Sean Connell, the
company's president. "Every dollar is precious to an early stage startup, and we are grateful for
the cash prizes and in-kind services provided by the competition sponsors."
Medtric Biotech has developed a wound-care dressing that uses nanobubbles in its
antimicrobial process to destroy bacteria and help prevent and treat infected wounds.
In April, the company won $1,000 for its first-place finish in the Purdue University Elevator Pitch
Competition. A month earlier, it finished in first place and won a $20,000 prize in the Wake
Forest University Schools of Business Elevator Competition.
Second place in last week's contest at Purdue was won by OneBreath, a Palo Alto, Calif.,
company that is developing a simpler platform to provide mechanical ventilation for people with
respiratory problems from flu or other trauma. OneBreath received $25,000 and in-kind services
valued at $3,000.
BioRegeneration Technologies, a West Lafayette company, took third place in the judging and
received $12,500 plus in-kind services valued at $2,000.
BioRegeneration Technologies is developing biomaterial therapies designed to catalyze healing,
restore function and regenerate damaged tissues.
Another West Lafayette company, Quantion Technologies Inc., finished fourth and won $5,000.
Quantion Technologies is developing an ambient ionization technique that enables direct
analysis of complex samples using mass spectrometry.
Other finalists received $2,500 each. They include:
• Cadence Biomedical of Seattle. The company is developing technology designed to enable
people with severe disabilities and confined to a wheelchair to walk independently.
• Confluence Pharmaceuticals LLC of Indianapolis. The company is the exclusive licensee of a
clinically discovered therapeutic treatment for core social and communication impairments faced
by individuals suffering from autism, spectrum disorders and Fragile X Syndrome.
• InChromatics LLC of Carmel. The company focuses on developing pressured planar
electrochromatography into a commercially viable analytic technique.
• NanoMed LLC of St. Louis. The company is developing a technological platform for fabricating
advanced biomaterials and synthetic surgical meshes for repairing the protective membrane
surrounding the brain and spinal cord during surgery.
Jianming Li, chief scientific officer with Medtric Biotech, described the competition as very
tough.
"There were some well-funded teams with highly qualified supporting casts," he said. "At the
end of the day, we believe that our experience with previous competitions and the cohesiveness
of the team edged out the competition. We are truly humbled to have received the honor."
Initially, 31 startup companies entered the competition, which was narrowed to the eight
finalists.
"Every year, the Purdue Life Sciences Business Plan Competition draws some of the most
exciting startup companies from across the nation, and this year was no exception," said
Richard Cosier, the Avrum and Joyce Gray Director of the Burton D. Morgan Center for
Entrepreneurship.
"All eight finalists hold promise, including several that are well-positioned for the next real step
with proof-of-concept and proven prototypes. But our panel of judges believed Medtric Biotech
stood above the rest, and the quality of their presentation was outstanding."
Written by
MAX SHOWALTER
Journal and Courier
Wednesday, November 16, 2011
www.jconline.com