ST. PAUL, Minn.--(BUSINESS WIRE)--Securian Financial has awarded $10,000 to Phenomix Sciences, a Rochester, Minn.-based biomedical startup company, as the 2019 winner of a Securian Financial-sponsored award for innovation that shapes the future of financial services or life insurance through technology. The award, launched in 2016, is part of MN Cup, an annual statewide startup competition.
Phenomix Sciences’ first product is a blood test used to help select the most effective weight loss intervention. Using phenotypes—an organism’s observable characteristics that result from the composite of genes and environment—the test predicts responses to current FDA approved obesity treatments to help guide the appropriate selection of therapy or medical intervention. Initial data from two randomized trials demonstrates that phenotype-guided treatment selection may more than double weight loss with an overall lower incidence of side effects and adverse events.
“The MN Cup is an amazing gift to our entire community, and Securian Financial is proud to help nurture and promote Minnesota as a thriving hub for insurtech and fintech for the fourth consecutive year,” said Sid Gandhi, Securian Financial’s chief strategy and enterprise technology officer. “This year we congratulate Phenomix Sciences for their unique use of phenotypes to increase the success of obesity treatment. We feel their product has the potential to improve overall mortality and longevity while at the same time enhancing the health and well-being of our customers.”
Phenomix Sciences and the other MN Cup winners were honored Monday, October 14, at a reception held at the University of Minnesota’s McNamara Alumni Center.
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ABOUT PHENOMIX SCIENCES
Phenomix Sciences is a biomedical startup company whose inaugural product is a phenotype-driven multi-omix blood test used to predict responses to FDA approved obesity interventions. Mayo Clinic physicians, scientists and professors, Andres Acosta and Michael Camilleri, founded the company.
ABOUT MN CUP
MN Cup is the largest statewide startup competition in the world and a hub to connect Minnesota’s entrepreneurial ecosystem. Organized by the Carlson School of Management at the University of Minnesota, MN Cup aims to create jobs and grow Minnesota’s innovation footprint.
Securian Financial is the marketing name for Securian Financial Group, Inc. and its affiliates. Insurance products are issued by its affiliated insurance companies, including Minnesota Life Insurance Company and Securian Life Insurance Company, a New York authorized insurer. Securities and investment advisory services offered through Securian Financial Services, Inc., registered investment advisor, member FINRA/SIPC.