New Orleans BioInnovation Center announces winners for BioChallenge pitch competition
NEW ORLEANS (Nov 1, 2024) - The New Orleans BioInnovation Center (NOBIC) is excited to announce Informuta as the grand prize winner of the 2024 BioChallenge pitch competition. The competition, presented by Silicon Valley Bank, highlighted six trailblazing biotech startups with solutions poised to transform health security and advance biomedical innovation.
Informuta earned the top spot for their novel, proprietary technology which allows users to leverage DNA sequencing to predict if bacteria will respond to different antibiotics or develop future resistance. Informuta’s mission is to revolutionize infectious disease detection and enable precision medicine through AI/ML-driven analytics of next-generation sequencing data. The BioChallenge victory will help accelerate their journey towards commercialization and global impact. In addition to winning the grand prize the local, Tulane University spinout was also awarded “Audience Favorite.”
“We are incredibly proud of Informuta and all the finalists, who truly embody the spirit of innovation that drives Louisiana’s biotech ecosystem,” said Kris Khalil, executive director of NOBIC. “This year’s focus on access and equity in health security is more important than ever, and each of the companies that participated is developing solutions that have the potential to transform healthcare. From novel early disease detection to breakthrough drug delivery systems, these startups are not only pushing the boundaries of science, but also making healthcare more accessible and equitable for people across the globe. The BioChallenge is about identifying and nurturing the entrepreneurs who will solve some of the world’s most urgent health challenges, and we are honored to be a part of their journeys.”
Prizes were awarded for second place to Vaxess and third place to SiVec Biotechnologies, both for their flexible vaccine and therapeutic platforms. Vaxess' flagship product is the MIMIX platform, a revolutionary drug delivery system utilizing a shelf-stable, self-applied microarray patch (MAP). This innovative platform is designed for the efficient and consistent delivery of a wide range of vaccines and therapeutics, including live viruses, peptides, proteins, mRNA, inactivated viruses and adjuvanted vaccines. SiVEC Biotechnologies presented BactPac, a biotherapeutic delivery platform, using a highly and carefully engineered bacterial strain that safely enables the production and delivery of next-generation nucleic acid and gene editing therapies.
The BioChallenge competition, held in conjunction with BIO on the BAYOU, the Gulf South region’s premier biotech conference, aligns with the mission of NOBIC’s partnership with Biomedical Advanced Research and Development Authority (BARDA DRIVe) Division of Research Innovation and Ventures to develop medical countermeasures addressing public health threats, including chemical, biological, radiological, and nuclear accidents, pandemics and emerging infectious diseases.
“The BioChallenge competition reflects the strength of our local biotech community and its commitment to solving global health issues,” said Patrick Norton, NOBIC Board Chair. “We are honored to provide a platform that supports the next generation of biotech innovators.”
The winners of the BioChallenge pitch competition received shares of a $100,000 prize pool with support from Silicon Valley Bank, the New Orleans BioFund and other key sponsors. Past BioChallenge winners include local biotech leaders such as AxoSim, Junum, Chosen Diagnostics, Obatala Sciences, Instapath, and BioAesthetics.
For more information about the BioChallenge and the New Orleans BioInnovation Center, visit https://neworleansbio.com/biochallenge-2024/
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About New Orleans BioInnovation Center: The New Orleans BioInnovation Center (“NOBIC”) is a nonprofit business incubator focused on advancing life science entrepreneurship and technology commercialization in Louisiana. The mission of NOBIC is to create a successful biotech ecosystem by providing emerging companies with customized commercialization services, premier facilities, and a comprehensive support network. Through relationships with research institutions, economic development organizations, and industry stakeholders, NOBIC helps its clients de-risk novel technologies, attract funding, and improve global health outcomes. For more information, visit neworleansbio.com/biochallenge.
About BIO on the BAYOU: BIO on the BAYOU, the premier biotechnology conference for the broader Gulf South region spotlights cutting-edge biotech advancements from universities and start-ups located in Louisiana, Mississippi, Kentucky, and Puerto Rico.
