NEW YORK, Oct. 28, 2016 (GLOBE NEWSWIRE) -- Mid Atlantic Bio Angels (MABA) announces today that its previously announced, closed-end investment pool (Pool) funded solely by current, active MABA members, has made its second investment of the year. The investment, which was joined by several MABA members, was made in Genome Profiling LLC (GenPro), a Delaware-based company focused on epigenetic biomarker discovery.
“This second investment for our closed-end pool, which occurs within fewer than six months of its inception, re-affirms our expectation that the Pool increases the likelihood of a presenting company receiving an initial investment from our members. The goal is to provide the company with early validation of its efforts while encouraging the achievement of some milestone which could justify a larger funding commitment by the group in the future,” said Yaniv Sneor, a MABA co-founder and president of Blue Cactus Consulting.
Added Stephen Goodman, another co-founder and partner at the law firm of Pryor Cashman LLP, “Not only are we thrilled to be making our second Pool investment so close on the heels of our first, but, in the process, the GenPro investment broke an internal MABA record. The time it took from presentation, through due diligence to funding was less than a month.”
GenPro (www.genprollc.com) is an epigenetic biomarker discovery company that is opening the door to a new class of clinically and commercially valuable biomarkers, called GenProEpiMarkers™. GenPro’s proprietary and disruptive quantitative analytics rapidly transform next generation sequencing (NGS) data into novel, highly sensitive and specific epigenetic biomarkers that the company translates into low-cost/high-throughput precision assays for breakthrough improvements in clinical trial responder vs. non-responder patient selection, companion diagnostics, and early disease diagnosis. Their approach is applicable across many diseases and also elucidates new molecular insights into pathways and mechanisms of action valued by translational medicine operations.
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.