NEW YORK, March 07, 2016 (GLOBE NEWSWIRE) -- Mid-Atlantic Bio Angels (MABA) announces today that NangioTx, Inc. (http://www.nangiotx.com) was voted as “Best in Show” at the first of MABA's 1st Pitch Life Science events for 2016, which took place on February 23, 2016 at Civic Hall in New York City, at the invitation of Bloomberg LLP. NangioTx is a Houston-based drug development company developing a novel drug promoting growth of new blood vessels in the muscles of patients with peripheral artery disease, which causes muscle atrophy and cell death.
“Having been chosen as ‘Best in Show’ is an honor for our young company, and it demonstrates that our approach, both in terms of our science and our business plan, is plausible,” said Vivek Kumar, Ph.D., co-founder and CEO of NangioTx. “We are grateful for the opportunity to receive the feedback of the panel and believe that we may be able to provide an extremely underserved population – more than 8 million Americans – with a potential treatment to preserve their muscle tissue usually lost in peripheral artery disease.”
1st Pitch Life Science (http://www.1stpitchlifescience.com) has been organized by MABA, a life science investor group, to encourage and educate aspiring life science entrepreneurs who know they may be too early to seek investment but want the opportunity to practice their pitch and to receive constructive criticism from experienced and knowledgeable professionals.
"As evidenced by the generally positive comments from the panel, NangioTx co-founder Vivek Kumar concisely articulated the medical issue and the proposed solution, provided enough data to give substance to the company's hypothesis and set out a reasonable path to market, without minimizing potential issues. A well-deserved win," said panelist Stephen Goodman, co-founder of Mid Atlantic Bio Angels and a partner at Pryor Cashman LLP in New York City.
About NangioTx
NangioTx is a Houston-based company developing a platform regenerative technology to engineer tissue by returning blood flow to dying organs. Reduced blood flow (ischemia) to the legs in peripheral artery disease results in tissue damage and ultimately limb amputation or death. NangioTx’s flagship technology, V-10, is an injectable material that helps create new blood vessels. V-10 promotes growth and maturity of new vessels through proprietary, patent pending technology.
About Mid Atlantic Bio Angels
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.