UCSF hosted the Second Annual Global Life Science Innovation Competition on April 20, when the top three winning teams received $15,000 in prize money for their inventions.
The winner of the first-place Merck Research Laboratories Grand Prize of $10,000 was Vasotech, a San Francisco-based biotechnology company that produces tissue-engineered, small-diameter vascular grafts designed to address important, unmet clinical needs in vascular surgery. The grafts, measuring 0.7 mm, have the quality of natural, healthy vessels, including high patency rates, low risk of thrombosis and stenosis, and immunocompatibility, all of which current synthetic grafts lack. Vasotech plans to focus initially on the needs of patients with peripheral vascular disease.
The second-place team was Parada Imaging, a UC Berkeley group developing an innovative technology to deliver low-cost, high-resolution magnetic resonance imaging (MRI) with the ability to image metal implants for the masses. Parada Imaging tied for first place in the ninth annual UC Berkeley Business Plan Competition earlier this year.
The third place team was CellThera, a UCSF-born biotechnology company developing cell-based transplants for the treatment of chronic stroke patients.
Life science innovators from around the world were invited to submit executive summaries of their technologies prior to the event. In the initial round, the submissions were reviewed and ranked by a panel of experts, who then selected the top eight finalists to participate in the live competition.
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Enjoying the reception following the life sciences competition are, from left, Katherine Filaski, Craig Hashi and Cory Nicholas. |
The event was organized by Innovation Accelerator, a student and postdoc organization, and co-hosted by the UCSF Center for BioEntrepreneurship, which provides educational opportunities and industry links for aspiring entrepreneurs.
"Today we celebrate the achievements of life science innovators and witness the birth of companies that promise to redefine the biotechnology industry," said Geoff Benton, director of Innovation Accelerator, at the start of the competition.
During the competition, each team presented its pitch describing novel technologies to a distinguished panel of 18 judges representing venture capitalists, angel investors, law firms, and pharmaceutical and biotech companies while an attentive audience of more than 200 interested individuals eagerly awaited the final results.
Throughout the day, the anticipation escalated as the eight teams presented their polished pitches and the judges evaluated their innovation, feasibility, impact, and presentation quality.
The Vasotech team leader, Craig Hashi, is a fourth-year PhD candidate in the UCSF/UC Berkeley Joint Graduate Group in Bioengineering. His research advisor is Song Lie, PhD, at UC Berkeley. Other UCSF and UC Berkeley competition team members included Katie Filaski, Kyle Kurpinski, Rebecca Botelho, Randall Janeiro, and Liam Holt.
"The competition has been great exposure, and I was able to meet a lot of the leading venture capitalists in the area. I obviously had a great time," Hashi said upon winning the first-place prize.
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The Vasotech team accepts the first-place prize in the Second Annual Global Life Science Innovation Competition at UCSF on April 20. |
The event would not be possible without generous corporate sponsorship from many organizations interested in the life sciences, including venture capital groups, law firms and biopharmaceutical companies.
"Introducing early-stage technologies to life science venture capitalists is an essential step and a win-win for both sides," pointed out Gail Schechter, PhD, director of the Center for BioEntrepreneurship.
To kick off the day, San Francisco Mayor Gavin Newsom sent a proclamation declaring the day "Global Life Science Competition Day" at UCSF.
Other program highlights included keynote speakers: Karen Bernstein, PhD, chair and editor-in-chief of BioCentury Publications; Fred Cohen, PhD, UCSF faculty member and venture capitalist; and Michael Schwartz, PhD, who told the Fluxion Biosciences success story of transitioning from academia to industry.
The day ended with a reception hosted by Alexandria Real Estate Equities, Inc., in its brand-new Life Science and Translational Research Building near the UCSF Mission Bay campus, again emphasizing the importance of linking academia and industry.
Gail Schechter contributed to this report.
Related Links:
UCSF Center for BioEntrepreneurship
