NEW YORK, May 22, 2015 (GLOBE NEWSWIRE) -- Mid Atlantic Bio Angels (MABA) announces today that Ultravision, LLC (http://www.ultra-vision.com) was chosen as "Best in Show" at MABA's New Jersey 1st Pitch Life Science event, which took place at the Institute for Life Science Entrepreneurship on the campus of Kean University in Union, New Jersey on May 6, 2015. Ultravision is a medical device company that has developed a unique ultrasound needle that allows physicians to perform peripheral nerve blocks for pain management while using color to identify their location,
Physicians are increasingly using ultrasound to identify appropriate locations to perform peripheral nerve blocks for pain control. Patients who have recently undergone surgery or experienced an injury often have lower stress hormone levels when these blocks are performed. Physicians using currently available ultrasound devices only see these images for nerve blocks in black and white. In contrast Ultravision's color technology allows more accurate placement and better localization of the block needle.
"We are grateful for the opportunity to participate in the 1st Pitch Life Science event and recognize its value as a way to gauge our message, and business model with a group of real investors," said Allen Maizes, MD, CEO of Ultravision. "We believe we are filling an important need in the market and to have the validation from these experienced entrepreneurs will help us to continue to drive forward."
"With a good business partner, Dr. Maizes' clever approach to improving Echnogenic nerve block needles has a good shot at becoming a product that will reduce complications, save anesthesiologists' time, and make some good money," said Bruce Toman, 1st Pitch Steering Committee Member, Technology Licensing Officer at Cornell University and panel member at the event. "Good luck and congratulations on Best in Show!"
"Ultravision has a classic startup story: a subject-matter expert who created a tool to improve his own work by thinking differently than the market. Building a business isn't easy, but expertise is a solid foundation to build on," added Rick Colosimo, startup and corporate attorney at Olender Feldman, LLP, who also served on the panel.
About 1st Pitch Life Science Events
At a 1st Pitch event (http://www.1stpitchlifescience.com), early stage life sciences and healthcare companies make a 15-minute presentation to a panel of experienced life science investors and consultants, followed by a 15-minute audience Q&A. However, where actual investors would then ask the presenting company to leave the room during their subsequent discussion, presenting companies at 1st Pitch are invited to hear the panel constructively critique the company's presentation, business model and perceived viability in the market.
About MABA
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.