Phytoption wins 2015 BioCrossroads New Venture Competition
October 15, 2015
WEST LAFAYETTE, Ind. - A firm based at the Purdue Research Park of West Lafayette on Oct. 14 was named the top company among six finalists in the 2015 BioCrossroads New Venture Competition during the Indiana Life Sciences Summit.
Phytoption LLC transforms high-value, insoluble ingredients into soluble solutions for food, supplement, cosmetics and pharmaceutical uses. The company's formulations effectively deliver poorly water-soluble actives, such as antioxidants and anticancer drugs, in cold water soluble formats.
In addition to a cash prize of $25,000, Phytoption will have access to the Indiana Seed Fund II staff and the fund's network of resources to provide business planning and early stage strategic support. The company also will have the opportunity to make a presentation to the ISFII investment committee for added exposure.
Animated Dynamics Inc. was awarded third place and a cash prize of $10,000. The company is developing clinical laboratory services for personalized cancer therapy selection. AniDyn's biodynamic imaging technology measures the efficacy of cancer drugs inside living 3-D tissue and provides predictors, within 48 hours of a cancer biopsy, that indicate how a patient might respond to a prescribed therapy. Animated Dynamics is a tenant in the Purdue Research Park of West Lafayette and licenses technology through the Purdue Research Foundation Office of Technology Commercialization. A video about Animated Dynamics is available at https://www.youtube.com/watch?v=sWGv7h54mLE
Another finalist in the BioCrossroads New Venture Competition was SPEAK MODalities, which provides evidence-based speech and language training applications to improve the quality of communication for individuals with autism and those impacted by language disabilities or delayed speech development. Their work has integrated leading science with tablet technology to provide individuals a program with demonstrated outcomes. SPEAK MODalities licenses technology through the Purdue Research Foundation Office of Technology Commercialization. A video about SPEAK MODalities is available at https://www.youtube.com/watch?v=AabR3FV9roY
Spensa Technologies Inc., which specializes in pest management technologies, won the second annual New Venture Competition in 2013. The company is based in the Purdue Research Park of West Lafayette and commercializes technology through the Purdue Research Foundation Office of Technology Commercialization.
About Purdue Research Foundation
The Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. Established in 1930, the foundation accepts gifts; administers trusts; funds scholarships and grants; acquires property; protects Purdue's intellectual property; and promotes entrepreneurial activities on behalf of Purdue. The foundation manages the Purdue Foundry, Purdue Office of Technology Commercialization, Purdue Research Park and Purdue Technology Centers. The foundation received the 2014 Incubator Network of the Year from the National Business Incubation Association for its work in entrepreneurship. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at foundry@prf.org
Purdue Research Foundation contact: Steve Martin, 765-588-3342, sgmartin@prf.org
