NEWS: Wrap-Up of OCTANe’s MTIF 2019 Conference in Newport Beach. Theme Was “Get Personal” and LaunchPad Winner is IntelliStem….
The theme of OCTANe’s annual Medical Technology Innovation Forum, which took place in Newport Beach this week, was “Get Personal.”
Part of that was the announcement of OCTANe’s new accelerator specifically for local nonprofits. See article here.
OCTANe is a multi-faceted organization in Aliso Viejo (with plans to move to the Great Park in Irvine), which currently includes a lifesciences and tech accelerator, among several other things.
OCTANe’ CEO Bill Carpou highlighted the diverse demographics of MTIF attendees including entrepreneurs, investors, physicians, industry executives and scientists.
In addition, close to 20 attendees came from the U.K., where delegates from OCTANe and the Greater Irvine Chamber of Commerce take an annual outreach trip each year to encourage cross-pollination among the UK and Irvine in terms of innovation.
At MTIF, Carpou articulated five themes underpinning the conference:
– OCTANe will present its inaugural Aesthetics Technology Summit in January at the Balboa Bay Resort
– OCTANe’s past successes, like its annual TIF and MTIF conferences, are the best predictors of its future efforts
– its growth services division, known as OES, is fully operational
– it still intends to move all its operations to the Great Park, in conjunction with FivePoint, in Q1 2020
– its six imperatives that Carpou recently outlined (see article about that here)
– and its new branding will debut in early January
MTIF LaunchPad Accelerator Winner
At each of its conferences, companies that have gone through OCTANe’s LaunchPad SBDC accelerator pitch to investor judges.
This year, the winner was IntelliStem Technologies, a biotech startup, (with HQ in Toronto), which created a next-gen suite of cell therapy.
Its platform is based on engineering stem cells to target invasive diseases, like cancer and infectious diseases.
Its first product is “Super Sentinel Cells,” an off-the-shelf cell therapy targeting cancer cells. CEO Riam Shammaa said during his pitch that these cells showed an 80% success rate in vivo, compared to 20% of incumbents such as dendritic cells.
Dendritic cells are antigen-presenting cells (also known as accessory cells) of the mammalian immune system. They act as messengers between the innate and the adaptive immune systems.
As the winner of the LaunchPad pitches, IntelliStem received $175,000 in in-kind services from the forum sponsors.
The startup has opened a Series A round of $30 million.
Some of the things the funds would be used for include:
– clinical trial protocol and regulatory filings and approval, at an approximate cost of $500,000
-generating revenue through the company’s “IntelliPeptidome Platform,” at a cost of approximately $6 million
– and IND submission and kickstarting the trials, at a cost of $18 million
(The FDA’s Investigational New Drug (IND) program is the means by which a pharma company obtains permission to start human clinical trials and to ship an experimental drug across state lines – usually to clinical investigators – before a marketing application for the drug has been approved.)