PHILADELPHIA, April 17, 2019 (GLOBE NEWSWIRE) -- Mid-Atlantic Bio Angels (MABA) announces today that BrachyThermix, which has developed a medical device to improve outcomes of cancer surgery utilizing the simultaneous application of heat and radiation, was named “Best in Show” by the audience at MABA’s 1st Pitch Life Science event held on April 8, 2019 at Baker Hostetler, Cira Center in Philadelphia.
“1st Pitch provides a unique forum to present our company to investors without the pressure of having funding on the line. While the investor panel provided important insights that we can incorporate into future presentations, the feedback from the audience was equally important,” said Richard Woodward, Ph.D., president and CEO of BrachyThermix. “Many of the audience members were experienced entrepreneurs and provided insight into issues that we might face in the development process.”
BrachyThermix (www.brachythermix.com) is developing a novel medical device to eliminate residual cancer cells at the margins of the surgical cavity following removal of a tumor, thus reducing the potential for reemergence of the cancer. The company’s initial target is glioblastoma, a deadly brain tumor.
The device has been developed in part in response to a randomized clinical trial in humans, where non-uniform heating followed by non-uniform radiation doubled the 2-year survival rate in glioblastoma. Animal studies have shown that simultaneous application of heat and radiation maximizes the synergy between the two therapies. The company’s device is a balloon placed in the cavity left after resection. This balloon contains magnetic nanoparticles heated by an external magnetic field. Radiation comes from a seed delivered into the balloon by an afterloader, a device commonly found in cancer centers. The company anticipates, at a minimum, that its technology will match the results shown in the previous trial.
Bernie Rudnick, a panelist, investor and MABA co-founder said, “It is rare to find an early licensed technology which has had previous human testing. That mitigates some of the typical early stage risk.”
According to Stephen Goodman, another MABA co-founder and a partner at the New York law firm of Pryor Cashman LLP, “It would mark a significant improvement if surgeons could ensure that all cancer at a surgical site has been removed. The technology offered by BrachyThermix may offer an important step in that direction.”
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.
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 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. MABA recently launched a sidecar fund (https://sidecarfund.bioangels.net/) to enable co-investment by accredited non-members.
Contact:
Jules Abraham
JQA Partners, Inc.
917-885-7378
jabraham@jqapartners.com