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STARTUP SCOUT A monthly newsletter for Startup.Directory subscribers January 2015 Featured Startup University Spinout: NovoBiotic Pharmaceuticals and Researchers Make News with New Antibiotic Discovery Platform Scientific researchers from Northeastern University in Boston, Massachusetts and Bonn, Germany claim to have discovered a new antibiotic that can kill the bacteria associated with medical issues including pneumonia, blood infections, and staph. The newly discovered antibiotic is called teixobactin. Although it has not been tested among the human population, the teixobactin has been tested with mice and has cured the mice from different types of infections including skin infections, thigh infections, and lung infections. The research has also shown that the antibiotic is not like any other in that infectious germs may not be able to develop a resistance to it. Like many other antibiotics, including streptomycin, vancomycin, and tetracycline, teixobactin was found while researchers were using a new and advanced technology testing the bacteria in soil. Slava Epstein, a researcher and biologist Startup Scout: The Latest Intelligence on Research Spinouts Each month, Startup Scout will give you information on promising new research institution startups. You’ll also get dozens of updates on startups we are tracking, as well as interviews with startup founders and industry leaders. If you have questions about this newsletter or your subscription to Startup.Directory, email us at [email protected]. See NovoBiotic on page 2 In this Issue Watch List High-potential startups added to Startup.Directory in last 30 days Accion Systems (MIT) is printing propulsion systems for satellites based on a proprietary ion beam technology. The revolutionary new approach ... Immuno-Matrix (Stony Brook University) is a needleless vaccination that is as simple as putting on a Band-Aid®. The first of its kind … Feature Startup: NovoBiotic .......................... 1 Watch List ............................ 1 Executive Interview: TiFiber .................................. 3 Iron Focus Medical (University of Maryland) is creating a new treatment technique that capitalizes on the transient behavior of ferromagnetic s … Neurala (Boston University) creates software that enables robots to move, work and learn among people. Its patent-pending Neurala Intelligence … TKAone (Columbia Universtiy ) is the first orthopedic implant that can de- tect infections and immediately alert patients to the need ... See complete High-Tech Scouting Report on page 4 High-Tech Scouting Report .................. 4 Startup Updates .................. 4 Startup Scout / January 2015 NovoBiotic continued from page 1 from Northeastern University, constructed ichip technology, a microfluidic chip about two inches long, and used it as a diffusion chamber to dilute the soil. There, the bacteria were able to grow in its home environment and when enough had grown, the bacteria were moved to a petri dish to be closely tested for the ability to create an antibiotic. During the testing period, the antibiotic seemed to have destroyed the bacteria that are the cause of debilitating staph infections, strep bacteria, and tuberculosis. The new antibiotic appears to be able to kill infectious bacteria by connecting to the cell’s fat molecule. Because of this, it may be impossible for bacteria to ever develop a resistance to the antibiotic. Although research has shown no known antibiotic that has not been resistant to infectious bacteria, teixobactin could prove to be that miracle antibiotic to form a strong barrier against bacteria and provide a new weapon against infectious bacteria in the body. Since its discovery, teixobactin has been licensed to the NovoBiotic Pharmaceutical in Cambridge, Massachusetts which is also is startup from Northeastern University. Although the research has proven that a new antibiotic has come, there are still a few economic and regulatory matters that must be handled before bringing the antibiotic to the general market. It is expected that the new antibiotic will take approximately two years to be refined and safe enough to be tested in human subjects. Researchers and the assisting spinout company are hoping that the antibiotic will become available for human use soon. High-Tech Scouting Report The following startups were added to the Startup.Directory database in the last 30 days. “WATCH LIST” companies have been identified by the editorial staff as high-potential startups that will be of particular interest to subscribers. Accion Systems (WATCHLIST) is printing propulsion systems for satellites based on a proprietary ion beam technology. The revolutionary new approach to in-space electric propulsion uses simple, modular thruster chips that can go anywhere on a satellite, in any number. Startup Scout Insights: January 2015 the company received $2 million in a seed round. Accion was part of MIT's Global Founders' Skills Accelerator. Their first product is in development and will launch in 2015. The management team has both academic and business experience. This is a startup from MIT in 2014. Codagenix utilizes breakthrough platform technology termed SAVE (Synthetic Attenuated Virus Engineering) to construct live-attenuated viral vaccines against multiple targets. Codagenix presents a breakthrough approach to live-attenuated vaccine design. The SAVE platform relies on synthetic biology and the rational "re-design" of a target virus' entire genome to yield a vaccine strain. Startup Scout Insights: The Company’s technology is very intriguing, but the current management team has very limited business experience. Codagenix is housed at the Long Island High Technology Incubator in Stony Brook. The company has raised $1.7 million from the National Institutes of Health to help develop a group of vaccines for diseases like influenza, dengue virus, respiratory syncytial virus, and E. coli. 2 Startup Scout / January 2015 Executive Interview: TiFiber This month we interviewed Miriam Hudson-Courtney who is the Communications Manager at VIC Technology Venture Development . TiFiber was formed in 2010 to commercialize a patented titanium dioxide based nanofiber membrane technology exclusively licensed from the University of Arkansas. TiFiber initially focused on photocatalytic membranes for water and air filtration where there is great need for filtration improvement, especially in cases where high temperature sterilization is required or where biofouling occurs rapidly. In 2013 the company expanded its intellectual property foundation by licensing an additional technology, a family of synthetic antimicrobial polymers, originally developed at the University of Auckland (New Zealand). Initial applications being developed are for personal care products, wound care dressings, medical devices and textiles. Products are currently in the research and development stage and discussions are underway with large, multi-national companies for co-development of products. Your website indicates that you have been in the R&D phase for a number of years. What is the first product you plan to bring to market? When do you plan to release this? TiFiber's antimicrobial polymer product is presently being scaled-up for pilot-scale product in support of FDA approval process. First application is for soap products as a replacement for triclosan and triclocarban which have safety and antimicrobial resistance concerns. First product sales following FDA approval expected by mid-2017. Can you tell us in laymen’s terms how antimicrobial polymers work? What advantages do they have over existing technology? A key feature of the TiFiber’s antimicrobial polymer (AMP) family of antimicrobial polymers is that they exhibit a multifaceted mode of kill consisting of both metabolic and physical modes of attack which separates it from other antimicrobial agents. Many antimicrobial agents focus on metabolic or DNA disruption as the mechanism of action, which not only limits the broadness of the antimicrobial effect, but is also known to allow for the development of resistant strains over time. AMP's combination of (i) physical disruption of the cell membrane and (ii) inhibition of metabolic pathways significantly reduces the potential of resistance formation and allows for bactericidal activity towards current drug resistant strains, such as Methicillin resistant Staphylococcus aureus (MRSA). In additional to personal care products, medical applications are being pursued. AMP has numerous potential medical applications. For wound care, AMP has the potential to be a safer and more effective antimicrobial agent than currently used nanosilver. In addition, AMP can be blended with other thermopolymers to create medical products ranging from catheters to medical trays to dental cements with built-in antimicrobial functionality. Your site states that discussions are underway with large, multi-national companies for co-development of products. What industries are these companies in? And do you expect the product to be released in the US or overseas? The two main areas are personal care and medical. We have partners in both of these. Products will be released internationally. Can you describe the status of the funding for TiFiber? How much capital have you raised? Are you in the process raising capital now? We have raised close to $1m in investment and are presently raising additional capital. 3 Startup Scout / January 2015 High-Tech Scouting Report Flytenow helps people live the dream of flight. Flytenow connects aviation enthusiasts with local pilots and facilitates ride sharing, making it the easiest and most affordable way to explore the sky. Startup Scout Insights: March 2014 the company received a $10,000 grant. January 2014 the company received a $15,000 Convertible Note. The company website has limited information. No details on the management team are included. Licensed from Northeastern University in 2014. Grip Boost is a product that restores football gloves to their ‘like-new’ tackiness without leaving residue on the ball and enables players to make gamechanging plays. Grip Boost is a patent pending gel formula derived from crabshells that is squirted onto gloves and quickly dried into a tacky thin-film polymer coating in less than 15 seconds. Grip Boost is the only product that can restore old gloves to ‘like-new’ tack without leaving residue on the ball, which is crucial for legal usage in a game. Startup Scout Insights: The company has received seed grants from Maryland TEDCO, University of Maryland OTC and private investments. Spring 2014 the company was a finalist for UMD's Invention of the Year. Licensed from the University of Maryland in 2015. Immuno-Matrix (WATCHLIST) is a needleless vaccination that is as simple as putting on a Band-Aid®. The first of its kind, Immuno-Matrix is a non-invasive skin patch that uses nanofibers to hold and effectively deliver a vaccine through the skin; it’s painless, self-administered, and doesn't produce bio hazardous waste. Startup Scout Insights: The company took 1st place in the 2014 national Collegiate Investors Competition. The company does not yet have a website. We will continue to monitor the growth of this company. This is a student startup from Stony Brook University. Iron Focus Medical (WATCHLIST) is creating a new treatment technique that capitalizes on the transient behavior of ferromagnetic rods to focus therapies to a precise location. By applying quick magnetic pulses, the technology will both image and control magnetic particles. This technology will grant clinicians a tool capable of delivering therapy in real-time to exactly where it is needed. Startup Scout Insights: The company has limited information available. We will follow the development of this company. Licensed from the University of Maryland in 2014. Startup Updates Asklepios BioPharmaceutical is developing novel protein and cellular based therapies through the design of proprietary Biological Nano Particles. The company was awarded $50,000 grant from the One North Carolina Small Business Fund. BIoM, previously iwalk, is developing the FootPower BiOM robotic foot prosthetic and other products that will emulate or even augment physiological function through electromechanical replacement. BiOM received $6 million in debt and equity funding from 18 investors. BioMarck Pharmaceuticals is focusing on developing new medicine for treating pulmonary diseases or disorders linked to mucus and pulmonary inflammation. The company received $40,466 grant. Cell Microsystems is developing simple, affordable solutions for performing research cell separations and isolations based on their IsoRaft technology. The company received $50,000 grant from the One North Carolina Small Business Fund. Cerevast Therapeutics is developing technology in the field of SonoLysis for the treatment of acute ischemic stroke and other vascular disorders. The company received $10 million in venture funding. Meryx develops novel Mer tyrosine kinase inhibitor therapeutics for critically ill patients in areas of cancer and other major unmet diseases. Currently the company is developing a treatment for leukemia. Startup Scout Insights: The company does not have a website. January 2015 has received $1.5 million in funding. Earlier in 2014 the company raised $3.1 million in a separate round. Licensed from the University of North Carolina at Chapel Hill. Dato, formerly GraphLab, is the company behind the fastest and most complete platform for building predictive and intelligent applications. The company received $18.5 million in funding. Neurala (WATCHLIST) creates software that enables robots to move, work and learn among people. Its patent-pending Neurala Intelligence Engine (NIE) is based on the scientific research done by the founders on biological intelligence, fundamental computational principles of perception, motivation, decision making, navigation, and motor control, and bio-inspired robots and processors. Startup Scout Insights: The Company’s technology could be critical to the rapidly growing robotics and UAV market. Neurala was founded in 2006 but became active in 2013 when it was accepted into Techstars Boston's startup incubator program. December 2014 the company closed $750,000 in a seed round. The company has received funding from NASA and the US Air Force Research Labs. Licensed from Boston University. Imbio received clearance from the FDA to sell its Lung Density Analysis software platform to analyze images of the lungs of patients suffering with chronic obstructive pulmonary disease or COPD. Red Cloud Communication is an optical communication component company. Red Cloud was created to commercialize SiP (Silicon Photonics) 4 Juno Therapeutics had a $264 million IPO. Kalon Biotherapeutics was acquired by Fuji Diosynth Technologies. Startup Scout / January 2015 Startup Updates Knopp, a drug discovery company focused on developing treatments in neurological disorders raised $5 million in venture funding. Narrative Science offers an application that generates news stories, industry reports, headlines, at scale and without human authoring or editing has raised $10 million. Neurala creates software that enables robots to move, work and learn among people. The company closed $750,000 in a seed round. technology. The initial target for the SiP technology is to improve the cost and power consumption capabilities associated with existing 100Gb/s optical transceivers. Startup Scout Insights: December 2014 The Wall Street Journal published a story "Universities Push Harder Into Realm of Startups" that mentioned Red Cloud Communications. The company does not disclose any funding on their website. The management team appears to have academic backgrounds. Licensed from the University of Colorado in 2014. Sunn has developed a state-of-the-art connected platform to automatically mimic what’s going on outside – down to the minute – to help people tune in to rhythms found in nature. Sunn’s initial hardware solution, the Sunn Light, addresses an opportunity to offer dynamic interior lighting that not only saves energy but also promotes human well-being. Startup Scout Insights: November 2014 Sunn began a Kickstarter campaign. Their original goal was $50,000 and they have $117,106 pledged as of December 2014. This company began as a project at Cornell University in 2012. Qualtre is developing solid state silicon MEMS-based motion sensor solutions for use in portable consumer electronics based on its proprietary multiaxis bulk acoustic wave (BAW) MEMS gyroscope technology. The company received $9 million in venture funding. Talos X is specialized in advanced engineering consulting for industrial and commercial operations. They provide domain expertise in Robotics, Unmanned Vehicles, Hardware Design, Software Design, and Engineering Strategy. Startup Scout Insights: The company has a website and a presence on social media. There is no funding listed. The management team has business backgrounds. Licensed from Cornell University in 2014. RE2-Robotics Engineering Excellence produces advanced, intelligent robotic arms and end-effectors for unmanned ground vehicles y was awarded $150,000 NIH grant. TKAone (WATCHLIST) is the first orthopedic implant that can detect infections and immediately alert patients to the need for treatment. This early warning system will reduce failed surgeries, and have patients walking again sooner. Startup Scout Insights: This is a student startup from Columbia University in 2013. The company has a website and a student management team. They were a finalist at the 2014 Collegiate Inventors Competition. RFS Pharma merged with Cocrystal Pharma. Rebellion Photonics is commercializing the unique 'snap-shot' hyperspectral imaging technology. The company received $4.25 million from the DOE ARPA-E. WattGlass' coating is designed to make glass anti-reflective, self-cleaning and highly transparent. Startup Scout Insights: January 2015 the company received $150,000 Phase I SBIR grant from the NSF. WattGlass is based at the UA's Arkansas Research & Technology Park. The company has received seed capital from the Arkansas Science and Technology Authority's Technology Development Program and angel investors. The company does not have a website but has been mentioned in several news articles. We will monitor the company to see additional funding and the establishment of a website. Licensed from the University of Arkansas in 2014. Selecta Biosciences is synthetic nanoparticle vaccines using its proprietary targeted Synthetic Vaccine Particle technology. The company received $3.2 million grant from the Skolkovo Foundation. Contact Us Questions about Startup.Directory or any of our products? Email us at [email protected] Call us at (703) 880-6697 Visit us online at www.startup.directory Startup.Directory 620 Herndon Parkway, Suite 320 Herndon, VA 20170 The information contained in this newsletter is for general information purposes only. The information does not purport to be a description of any investment opportunity. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of profits arising out of, or in connection with, the use of this newsletter. 5