LOS ANGELES--(BUSINESS WIRE)--BioTools Innovator, a new program focused on accelerating life science tools and diagnostics, today announced Machine Bio as the grand prize winner of the first BioTools Innovator program final competition. The winning company was determined by a live audience vote on Oct. 14 at the BioTools Innovator Capstone Event in Carlsbad, Calif.
Machine Bio, a life science startup based in Claremont, Calif., is developing the Transmembrane Protein Synthesis Platform, a technology that can produce pure protein in hours.
“Machine Bio’s mission is to develop and commercialize a transformative protein expression platform that drastically minimizes the process of making pure protein to a single step," said David Marash, founder, and CEO of Machine Bio. "This award represents a recognition of the need and opportunity for radical innovation in the foundational workflows of our industry and a major milestone for Machine Bio in the earliest stages of our growth. We are extremely grateful to the BioTools Innovator community for supporting the development of our company and facilitating our integration into the broader biotech tools community as we work towards our vision of a streamlined biotech industry in which the value of engineered protein is delivered to society on a grander scale.”
BioTools Innovator received over 160 applications in this year’s cycle. 23 companies were invited to pitch during the BioTools Innovator Road Tour, with 10 companies ultimately receiving a slot in the 2021 Cohort. Machine Bio is the recipient of the $200,000 grand prize which will be used to advance its business goals and objectives. Celldom, Clara Biotech, EpiCypher, and Glyphic Biotechnologies were runners-up and received a prize of $10,000 as finalists selected from this year’s BioTools Innovator Accelerator program. Clara Biotech was also voted the winner of the $10,000 Best Video Award for their one-minute pitch video.
“It is exciting to name Machine Bio as the first winner of our BioTools Accelerator program,” said Kathryn Zavala, managing director of BioTools Innovator. “Machine Bio is developing a product with the potential to dramatically speed up protein synthesis which may have many downstream benefits in such areas as drug development and therapeutic manufacturing. I am thrilled to see their hard work recognized. The goal of the BioTools Innovator program is to advance life science tools innovation and this award will make a significant impact in helping this early stage company reach their next milestone.”
Machine Bio participated in the BioTools Innovator 2021 Accelerator program, which provides early stage companies with in-depth, customized mentorship from key leaders in the life science and diagnostics industries, exclusive virtual networking opportunities and workshops, and high profile visibility to investors, strategic corporates, and potential customers.
Judges of the 2021 final competition included: Shaun Kirkpatrick, president, Biotechnologies, Research Corporation Technologies (RCT); Chad Souvignier, vice president, Research Corporation Technologies (RCT); Bill Snider, partner, BroadOak Capital Partners; Bryan Poltilove, managing director, BroadOak Capital Partners.
“Congratulations to Machine Bio for being named the first winner of the BioTools Innovator Accelerator program," said Shaun Kirkpatrick, president, RCT. “Machine Bio’s technology has the potential to make a significant impact on protein synthesis in the biotech industry and their win is well deserved. All the finalist companies in this year’s cohort are developing life science tools worthy of attention, and I look forward to tracking their future successes.”
“It was an honor to judge the first BioTools Innovator grand prize competition, and I am thrilled to recognize Machine Bio as the program’s winner,” said Bill Snider, partner, BroadOak Capital Partners. “Today’s competition was a reminder of the consistent flow of breakthrough life science innovation out there and we look forward to watching Machine Bio advance their product towards commercialization and adoption. BroadOak is a proud supporter of the BioTools program, and we are excited to continue to support this program that helps accelerate early stage life science companies who are developing products that advance biomedical research.”
About BioTools Innovator
Based in Los Angeles, Calif., BioTools Innovator was established to improve human health by accelerating the growth of a broad spectrum of life science tools and diagnostics. BioTools Innovator matches industry leaders with innovative early stage and emerging growth biotechnology-focused companies for mentorship and support.
About MedTech Innovator
Based in Los Angeles, Calif., MedTech Innovator is the largest accelerator of medical device companies in the world and the premier nonprofit startup accelerator in the medical technology industry.i Its mission is to improve the lives of patients by accelerating the growth of companies that are transforming the health care system. MedTech Innovator matches health care industry leaders with innovative early stage and emerging-growth medtech companies for mentorship and support.
For more information about MedTech Innovator, visit https://medtechinnovator.org/ and follow @MedTechAwards on Twitter and on LinkedIn. To receive industry insights and highlights about MedTech Innovator’s current and alumni participant companies, subscribe to its monthly newsletter.
i Gibbs, M., Johnson, B., Silva, B. A., & Berube, K. (2020, July 10). Q2 2020 Life Science Accelerators Insights Cipher Bio. Retrieved September 15, 2020, from https://www.cipherbio.com/blog/life-science-accelerators-insights/