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PROPEL Awards Grants to 8 Illinois MedTech Companies for AdvaMed 2015

Thursday, August 27, 2015   (0 Comments)
Posted by: PROPEL Center
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PROPEL Awards Grants to 8 Illinois MedTech Companies for AdvaMed 2015

PROPEL Companies Represent 15% of AdvaMed’s Innovation Showcase

August 27, 2015

The PROPEL Center of the iBIO Institute, dedicated to increasing the number and success rate of early-stage life sciences companies in Illinois, announced today that it has awarded 8 grants to help Illinois entrepreneurs attend AdvaMed 2015: The MedTech Conference in San Diego. AdvaMed 2015 is the leading MedTech conference in North America, bringing more than 1,000 companies together in a uniquely multifaceted environment for business development, capital formation, innovative technology showcasing, world-class educational opportunities and networking. The AdvaMed 2015 Innovation Showcase will feature the most promising, innovative, emerging growth MedTech companies.

“We attended our first AdvaMed conference last year and are thrilled to really participate this year as part of the Innovation Showcase. We are honored to be accepted to AdvaMed’s Innovation Showcase through a grant from PROPEL,” said John Hart, President of Preora Diagnostics. “We would not be in the position we are without the support of PROPEL and iBIO. They have provided opportunities to learn from experts and network with other startups who are working through the many issues that early stage companies all go through.”

PROPEL awarded grants to help Illinois early-stage medical device and medtech companies participate in the conference’s Innovation Showcase, as well as grants to attend the conference itself. In addition to Preora Diagnostics, PROPEL grant recipients selected for the Innovation Showcase include Advanced Cooling Therapy, Endotronix, Pax Neuroscience and 3PrimeDx. Additional companies receiving grants to attend the conference include Corvida Medical, QuiO Technologies and Sintact Medical Systems.

“Many early-stage life sciences companies can benefit from attending AdvaMed 2015, but often the cost of registration seems high to bootstrapping startups,” said Barbara Goodman, senior vice president of PROPEL. “We are thrilled that PROPEL companies represent 15% of the Innovation Showcase this year – highlighting Illinois’ thriving medical device / medtech startup community.”

“By sponsoring these eight Illinois-based companies, PROPEL is allowing them to showcase their life-changing technologies to the largest gathering of medtech professionals in North America – a truly exceptional opportunity to grow their early-stage businesses." said Ray Briscuso, managing partner and producer of AdvaMed 2015.

"The scholarships funded by PROPEL provide crucial opportunities for Illinois-based medtech startups to connect with potential investors and partners, including regulators and payers, industry leaders and peers,” said Ashley Wittorf, executive director of AdvaMed Accel. “As we celebrate AdvaMed's 40th year, AdvaMed Accel and the MedTech Conference will continue to work to meet the needs of emerging-growth medtech companies, such as Preora Diagnostics, by providing novel experiences such as the Innovation Showcase.”

PROPEL also congratulates Briteseed and PixelEXX Systems, PROPEL companies selected as MedTech Innovator Semi-Finalists and presenters in the Innovation Showcase.

For more information on PROPEL or the iBIO Institute, visit www.ibioinstitute.org.

For more information on AdvaMed 2015, visit www.advamed2015.com.

About PROPEL
PROPEL is a group of programs aimed at increasing the number and success rate of early-stage life sciences companies in Illinois. PROPEL helps guide the development of formation-stage and early-stage life sciences companies by providing entrepreneurs with access to specialized resources and expertise to prepare them for early-stage funding. PROPEL is a Center of the iBIO Institute. To learn more about PROPEL and its programs, visit www.ibiopropel.org.

About iBIO Institute
The mission of the iBIO Institute is to orchestrate business leadership in delivery of world-class educational programs and job-creating new technology ventures. The Institute’s EDUCATE Center delivers science and math programs for teachers and students, thereby inspiring the next generation of innovators and helping restore America’s leadership in technology education. The Institute’s PROPEL Center increases the number and success rate of early-stage life sciences companies in Illinois. To learn more about iBIO Institute and its programs, visit www.ibioinstitute.org.


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