1st Pitch, run by Mid Atlantic Bio Angels (MABA) based out of New York City, is a life sciences pitching contest held at various venues in the Mid Atlantic region. Its most recent gathering on May 5th was hosted by the Institute for Life Science Entrepreneurship (ILSE) on the Kean University campus in New Jersey. It gave three life science entrepreneurs the opportunity to pitch to a panel of highly accomplished life science investors, receiving advice from them as they embark on their journey to find funding.
The judges for the evening were: Keith Bostian, host and CEO of ILSE and angel investors, Anjan Aralihalli, Ken Kashkin, and MABA founder Yaniv Sneor.
“It’s not to pitch to a room full of investors, it is more a learning opportunity,” explained Yaniv Sneor, founder of MABA. Participating entrepreneurs are given feedback by the panel’s judges who know they are early in their funding search and would benefit from an “insiders” critique of their fifteen minute presentation, as well as hearing feedback as part of the ten minute audience Q&A.
Pitching is free. Those interested in honing their presentations are directed to send their executive summary directly to MABA where a steering committee selects the three presenters for the next meeting.
“We have an ecosystem where we try to provide people with opportunities to meet with each other,” said Sneor, referring the audience to the MABA web site for additional information about the ecosystem that MABA promotes for the benefit of life science entrepreneurs.
Also, organizers help attendees make valuable connections by asking them about their particular needs at the time of registration. That information is put on their event badge to facilitate networking among those in attendance. Needs range from finding a potential co-founder, a research specialists, and investors, according to Sneor.
Prevnos, Inc. was the winner of “Best in Show” based on an audience participation vote that yields them a press release, a polo shirt and accolades from the judges and audience. Prevnos is a Union, New Jersey based diagnostic company noted for their development of the Hybrid Fusion FISHTM, which are assays that aid in the diagnosis of certain forms of cancer. Prevnos’ Hybrid Fusion FISHTM simplifies cancer diagnosis by using colored dots to indicate cancer in samples from blood, saliva and urine.
“We were honored to have been chosen as ‘Best in Show’ as it confirms that our approach to science and business are viable and investment-ready,” stated CEO of Prevnos, Mohammed Harris.
