PITTSBURGH, June 3, 2021 /PRNewswire/ -- LifeX Labs and Pittsburgh Life Sciences Greenhouse (PLSG) have co-sponsored a Life Sciences Accelerator. By bringing together the strengths of each organization, this new venture is yet another way both LifeX and PLSG can actively support life sciences entrepreneurs in the region. The Spring 2021 Life Sciences Accelerator program has just been completed and was an overwhelming success.
MindTrace, the first place winner, pairs 3D brain maps with measures of a neurosurgery patient's behavioral performance to simulate surgical resection plans and predict cognitive outcomes prior to the first incision. They received a package of services valued at over $50K, including legal and advisory services from Troutman Pepper, consulting services from 4th River Solutions, access to the research platform Pitchbook, and domain expert-mentoring time.
The second place winner, Vanish, a nerve stimulator with biodegradable electrodes for mitigation of chronic neuropathic pain, was awarded a package valued at $35K. Chemia.ai, a software system aimed at discovering new bioactive molecules produced from bacteria and other microbes using metagenomics and metabolomics data, received a package valued at $10K and an honorable mention for their efforts.
The Life Sciences Accelerator is a 13-week intensive program that includes mentoring and educational components, culminating in a judged pitch event. The program is designed to literally "accelerate" a company's progress toward commercialization. Acceptance into the Life Sciences Accelerator is by application only, and just eight to 10 companies are selected to participate in each group.
"We are excited that the Life Sciences Accelerator session was such an overwhelming success due to all those involved. We had a very strong group of companies, mentors, sponsors, and partners that continue to demonstrate how strong and committed our Life Sciences sector is in Pittsburgh. We are looking forward to collaborating with PLSG on the next session and other programs," said Gerald Vardzel Jr., President and CEO of LifeX.
"We continue to see significant growth in the life sciences across western Pennsylvania and are well positioned to help start-ups navigate the path through the commercialization process," said Diana Cugliari, President and CEO, PLSG. "The Life Sciences Accelerator really gives a start-up company the push forward they need to meet with success. We are thrilled to be teaming up with LifeX to support this effort, along with other programs to assist the community."
The Life Sciences Accelerator is supported in part by a grant from the U.S. Economic Development Authority and Danforth Advisors.
To find out more information on the Life Sciences Accelerator program, or any of the programs offered, please contact: Max Fedor, Director of LifeX Labs, at [email protected] or visit www.lifex-labs.com or www.PLSG.com.
LifeX is a capital growth company that de-risks early-stage life sciences companies in terms of time, resources, and investment. We focus on the strategic pillars of commercialization, capital, infrastructure, and resources to create alignment and achieve the highest probability of success for every company in our portfolio. Our success is simply defined by the success of our portfolio companies. For more information, please visit www.lifex-labs.com.
The Pittsburgh Life Sciences Greenhouse (PLSG) is a comprehensive life sciences economic development organization. We are dedicated to advancing life sciences in western Pennsylvania by building on the region's strengths in research, clinical care and life sciences entrepreneurship. We serve our community by providing knowledge, connection and capital to help companies grow, create jobs and improve the health of all humanity. For more information, please visit www.plsg.com.
SOURCE Pittsburgh Life Sciences Greenhouse