The results are in from the elevator pitch at Rice Alliance's 7th Annual Life Science Technology Venture Forum last week. Of the 50 startups that presented their business plans, the following were named the most promising life sciences technology companies: Andro Diagnostics, AuricX Pharmaceuticals, CytoViva, Lono Medical Systems, New Heart Devices, Nidus Laboratories, Opexa Therapeutics, Organ Transport Systems, PowerLung and Traumatec.
The two general themes among presenters were novel drug treatments and testing systems. Houston-based AuricX, which is in the process of raising $10.5 million, is developing new anti-infectives to treat staph infections. Galveston, Texas-based Andro, which is looking for $2.5 million (it already has $2.5 million from a previous investor), is developing an in-office and home zinc-based test for prostate cancer.
Most of the startups got high marks for their presentations, but the panel of venture capitalist judges asked for more information about the science and how their products were going to compete with what's already out there and in the pipeline.
The Houston event, which drew 400 attendees, kicked off with lot of exit talk from local boy-done-good George Cole, CEO of Encysive Pharmaceuticals Inc., a blood pressure drug maker that struck a deal in February to be acquired by Pfizer Inc. [PFE] for $195 million. But elevator pitch judge Shekar Rao, worldwide manager of medical electronics solutions at Texas Instruments Inc., which has just put together a $15 million fund for university research, warned that such a positive outcome isn't always in the cards.
"All of you want to be acquired," he told the competitors. "That doesn't always happen." - Claire Poole
See Feb. 21 story on Pfizer's Encysive acquisition from TheDeal.com
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