MINNEAPOLIS, Sept. 27, 2016 /PRNewswire/ -- StemoniX, a company developing breakthrough stem cell technologies, was recognized as one of today's most innovative and market changing businesses, earning the Grand Prize and title of Best Breakthrough Business Idea of 2016 at the 12th annual MN Cup awards.
The MN Cup is the largest statewide new business and entrepreneurial competition in the country. The 2016 competition included a record-breaking 1,500 entrepreneurs and companies competing across eight categories. This recognition adds to the award StemoniX received last month for winning the Life Science/ Health IT Division of this competition.
"Winning the MN Cup is an exhilarating yet humbling experience," said Ping Yeh, CEO and cofounder of StemoniX. "We see this recognition as both a testament to our unique product offering and the progress we have made as a company. This validates our ongoing efforts to challenge the status quo in healthcare. We have already developed a platform to scale stem cell technologies. This award will enable us to continue our efforts to help our customers economically and efficiently discover and test new medicines for the spectrum of diseases and pandemics, from Alzheimer's to Zika."
StemoniX is leading the development and manufacturing of human induced pluripotent stem cell platforms for pharmaceutical drug discovery applications, such as biologically accurate, miniaturized organ-like microtissues. Its biotechnology provides scientists with standardized, easy-to-use, cost-effective access to relevant human microtissue for toxicity and efficacy screening. Incorporated in Minnesota, the company is co-located in Minneapolis and San Diego, CA. For more information visit www.stemonix.com.