NEW YORK, May 04, 2018 (GLOBE NEWSWIRE) -- Mid-Atlantic Bio Angels (MABA) announces today that EndObetes, which is developing an endoscopic treatment for obesity and associated type-2 diabetes, was named “Best in Show” by the audience at MABA’s 1st Pitch Life Science event held on April 26, 2018 at the Carson Auditorium at Rockefeller University in New York City.
For this event, three early-stage companies videotaped their presentations and then were offered one-on-one mentoring sessions with a MABA member to modify their initial pitch decks to meet the expectations of the angel investment community. At the event itself, each company’s videotape was played, followed by a live presentation of the modified pitch. After the presentations, there were audience questions of the presenters and mentors, and the audience then voted on the “Best in Show.”
“For the 24 million obese Americans who seek their doctors help each year, we want to show that the EndObetes device will be more effective than diet, medications and stomach balloons for weight loss and diabetes, yet safer, less invasive and less expensive than surgery,” said Marc Bessler, MD, CEO of EndObetes. “EndObetes is excited that the audience recognized the great potential and business opportunity of our technology. We were honored to have been named ‘best in show,’ and appreciate MABA’s efforts to help early stage Biotech startups up their ‘game’ and polish their pitch. It was certainly a valuable experience for us.”
New York-based EndObetes is currently developing an endoscopic approach to the treatment of obesity and associated type-2 diabetes. The safe, durable implant will mimic a gastric bypass surgical procedure, with a less invasive endoscopic approach. The company believes that this will fill the tremendous gap between pharmacological treatment and a full surgical approach, which comes with inherent risks.
“The format of this 1st Pitch event proved that mentoring prior to the event really made a difference in the content and flow of the final pitch decks,” said Carolyn Myers, Principal, BioEnsemble, Ltd., and one of the MABA coaches. “Each presenter is to be congratulated on their efforts. However, EndObetes demonstrated to the voting audience the strongest final presentation, hitting all the key areas of an early-stage investor pitch.”
About 1st Pitch Life Science
1st Pitch Life Science (http://www.1stpitchlifescience.com) is a program initiated by Mid Atlantic Bio Angels to educate early stage life science and healthcare companies and an audience consisting of life science ecosystem participants about how angel investing works. Although specific formats vary, at each event at least two early stage companies present a pitch deck and experienced investors provide either one-on-one coaching or direct constructive feedback intended to help the companies improve their chances of getting investment. The audience members vote on “Best in Show”. In all cases, the companies receive constructive criticism of 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.
JQA Partners, Inc.