CHICAGO--(BUSINESS WIRE)--The PROPEL Center of the iBIO Institute, dedicated to increasing the number and success rate of early-stage life sciences companies in Illinois, announced on April 24 at the 2017 iBIO IndEx that EDGe Surgical is the winner of the 2017 PROPEL Business Plan Competition. Over 250 community members watched Christopher Wilson give the winning presentation to life sciences financial investor and corporate venture judges. PROPEL awarded the company a $15,000 cash prize at the end of Monday's event. Congratulations to Christopher and the entire EDGe Surgical team!
EDGe Surgical is a medical device start-up with the first single-use Electronic Depth Gauge used to more accurately and safely place orthopedic and spinal surgical screws. Invented by a Northwestern Memorial Hospital surgeon, its patent-protected devices will set a new standard of care in the orthopedic surgical setting.
“It’s truly an honor to win this prestigious competition among some very interesting and innovative companies. It not only further validates our path to success, it also further solidifies the importance in addressing important clinical and cost needs for orthopedic surgeries,” said Christopher Wilson, President & CEO of EDGe Surgical. “PROPEL has been a great partner for us, providing support and insights on how to best get our valuable products to the masses. I’m excited for our continued collaboration with PROPEL going forward.”
“The EDGe Surgical team recognized a very important unmet need in the market and with very focused efforts, have made tremendous progress in advancing their technology,” said Martha Shadan, CEO of Rotation Medical, former President of Zimmer – Trauma and a member of EDGe Surgical’s Business Advisory Board. “I am very proud of what they have accomplished and pleased to see they are recognized by PROPEL as the winner of the 2017 PROPEL Business Plan Competition.”
In addition, Third Coast Therapeutics, a spinout of Northwestern University, won Second Place and $2,500 at the competition. Third Coast Therapeutics is developing orally administered small molecule drugs intended to transform traditional cancer therapies. Acting in a highly specific and novel way, its drug candidates change the activity of the co-Chaperone Complex and prevent the motility of cancer cells.
Funds for the competition winners come from the Searle Funds at The Chicago Community Trust’s 2017 grant to PROPEL.
Following the Finals of the PROPEL Business Plan Competition were ten fast pitches from ventures commercializing life sciences technologies representing Argonne National Laboratory, CIM@MATTER, Illinois Institute of Technology, Northwestern University, PROPEL, University of Chicago, University of Illinois at Chicago and University of Illinois at Urbana Champaign.
It was an exciting day to celebrate all of the science-based innovation occurring across Illinois.
For more information on PROPEL or the iBIO Institute, visit www.ibiopropel.org.
PROPEL is a group of programs aimed at increasing the number and success rate of early-stage life sciences companies in Illinois. PROPEL helps guide the development of formation-stage and early-stage life sciences companies by providing entrepreneurs with access to specialized resources and expertise to prepare them for early-stage funding. PROPEL is a Center of the iBIO Institute. To learn more about PROPEL and its programs, visit www.ibiopropel.org.
About iBIO Institute
The mission of the iBIO Institute is to orchestrate business leadership in delivery of world-class educational programs and job-creating new technology ventures. The Institute’s EDUCATE Center delivers science and math programs for teachers and students, thereby inspiring the next generation of innovators and helping restore America’s leadership in technology education. The Institute’s PROPEL Center increases the number and success rate of early-stage life sciences companies in Illinois. To learn more about iBIO Institute and its programs, visit www.ibioinstitute.org.