Applied Glycan Technologies, Inc. Wins “Best in Show” at 1st Pitch Life Science Competition

Scotch Plains, New Jersey, UNITED STATES


NEW YORK, June 21, 2019 (GLOBE NEWSWIRE) -- Mid-Atlantic Bio Angels (MABA) announces today that Applied Glycan Technologies, Inc. (http://www.appliedglycan.com), which is developing a topical analgesic for the treatment of severe pain caused by oral mucositis, was named “Best in Show” by the audience at MABA’s 1st Pitch Life Science event held on June 11, 2019 at the law offices of Wilson Sonsini Goodrich & Rosati in New York City.

"It's an honor which drives us to continue building a better venture and a better mucosal pain therapy, to which MABA's 1st Pitch coaching has been an invaluable contribution," stated Mark Slomiany, Ph.D., MBA, chief operations officer of Applied Glycan Technologies, Inc.

The treatment of the continuous significant pain experienced by patients with oral mucositis remains an unmet medical need, accounting for more than $25,000 per patient in additional care for cancer patients with limited options aside from “magic mouthwashes” and systemic pain medications.  Given the current opioid crisis, medical professionals are extra vigilant with how they manage pain in these cases, and so patients are either under-treated or at risk because they do receive these powerful drugs.  Applied Glycan Technologies, Inc. is developing a pen-delivered oral gel utilizing a known non-steroidal anti-inflammatory medication that coats the affected area and gradually releases medication to provide patients with longer-lasting, more effective pain management for this condition.

"First Pitch events provide a great opportunity for early entrepreneurs to engage with potential future investors in a way that is collegial, constructive and explicitly non-threatening. I look forward to watching as the leadership team at Applied Glycan Technologies works to build a viable company that can deliver novel, pain relieving therapy to patients suffering from oral mucositis," added Jon Popke, MABA investor and steering committee member.

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