HOUSTON – September 3, 2010
America Stem Cell Inc, was named the ‘Most Promising’ Life Science company at the 9th Annual Rice Alliance for Technology & Entrepreneurship Life Science Venture Forum in Houston last week. Life Science companies showcased their new ventures for an audience of more than 400 attendees, including investors, venture capitalists, industry representatives, business leaders, advisors/mentors, service providers, and entrepreneurs.
Cynthia A. Doerr, M.D., partner, Essex Woodlands Health Ventures said of the presenters, “This is one of the most mature groups of healthcare-related company presentations that I have reviewed in Houston, and I intend to follow their progress closely.”
America Stem Cell Inc (ASC) is developing and commercializing breakthrough patented products to enable successful stem cell therapy outcomes, initially for transforming survival and quality of life of patients undergoing stem cell transplantation for cancer. Its lead clinical candidate, ASC-101, is a patented enzymatic, ex vivo treatment of stem cells that accelerates the rate and extent of stem cell homing to and engraftment within targeted diseased organs. Preclinical proof of principle data show a 4-5 times (400 – 500%) improvement in the rate and extent of stem cell homing and engraftment.
America Stem Cell expects to file an IND for ASC-101 this year. The Company plans to begin a Phase I/II trial at University of Texas MD Anderson Cancer Center in early 2011 and is initiating a $10M Series B round to fund the clinical program through human proof-of-concept, a milestone that it believes will significantly increase shareholder value. America Stem Cell is also developing ASC-201, a small molecule that improves engraftment by another mechanism that is expected to be additive to ASC-101.
Lynnet Koh-LeMaire, CEO/Founder said ‘America Stem Cell Inc is poised to transform the survival and quality of life of cancer patients undergoing stem cell transplantation for treatment of blood-related cancers. We are also well positioned to transform clinical outcomes for patients undergoing stem cell therapy to treat various other diseases such as diabetes, cardiovascular and neural diseases as well as wound healing, cartilage, muscle and bone regeneration. We are honored to be selected as the‘Most Promising’ Life Science company by the Rice University Venture Forum’.
The one-day event culminated in an announcement of the Most Promising Life Science Companies chosen from nearly 40 competitors and judged by the Rice Alliance Information Technology Advisory Board, based on the companies’ elevator pitch presentations. The exercise simulates meeting an investor on an elevator and having only 90 seconds to convince them to invest in your company.
In addition, five other new life science technology companies were pre-selected to present their 10-minute business plan presentation at the forum, and as one of the chosen five, were also named a Most Promising Life Science Technology Company.
Rice Alliance Director Brad Burke, announced the winners of the Most Promising Life Science Company awards at the event. “Every year the quality of companies improves. Many of the companies at this year’s event have developed prototypes, obtained proven results and are on their second round of funding. This makes them more appealing to investors, who have also expressed appreciation for the quality of the companies.”
The Forum was supported by Baker Botts, LLP, Essex Woodlands Health Ventures, Winstead Attorneys and Santé Venture with supporting sponsors Greater Houston Partnership and Houston Technology Center and media sponsors Houston Business Journal and the BusinessMakers Radio Show. Elevator pitches from the competition can be seen at www.alliance.rice.edu beginning July 6, 2010.