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November 18, 2008

SEBIO Announces Four Finalists Selected in 2nd Annual BIO/Plan Competition; Finalists to Present at Upcoming Investor Forum

Filed under: SEBIO News — admin @ 8:42 am

Atlanta, GA- Southeast BIO (SEBIO), a regional nonprofit organization dedicated to fostering the growth of the Southeast’s life sciences industry, announced today the selection of four finalists in its second annual BIO/Plan Competition. The final four competitors are: Lestoni, Inc. (Virginia Commonwealth University); CardiacSolutions (Georgia Institute of Technology); ProNeurix (Emory University); and Cerene Biomedics, Inc. (Duke University).

The SE BIO/Plan Competition is a year-long program developed to promote the creation of new, fundable life science companies based in the Southeast. Working closely with technology transfer offices and entrepreneurs throughout the region, the competition brings forward opportunities from leading Southeastern research universities and research centers. The BIO/Plan competition received more than seventy total applications earlier this year. The applicant pool included applications from Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee and Virginia.

“BIO/Plan is supplying the region with a pipeline of well crafted emerging technologies which will become the future life sciences companies in the Southeast,” said Aaron Davidson, Managing Director, H.I.G. Ventures. “The program is of the highest value to each of its participants, regardless of the competition results.”

The final four competitors were selected from the ten semifinalists announced in May. The semifinalists completed a rigorous mentoring process to develop an executable business strategy and associated written plan. The mentoring teams included three or four experienced professionals from active venture funds or angel groups, biotech entrepreneurs and managers, and service providers with relevant start-up expertise. Each mentoring team worked together for six months. The resulting business plans were judged by a panel of experts who selected the four finalists.

“The second annual BIO/Plan competition has been incredibly successful and we thank all of the mentors for their time and effort to develop these plans,” said Phillip Street, Chairman of SEBIO. Frank Hunt, BIO/Plan competition Co-Chair adds “What is most obvious is that the ten semifinalists that were selected took advantage of the skills and expertise that their assigned mentors provided over the past six months and jointly they produced commercialization strategies that are well conceived. The end product of their individual efforts is ten business plans that reflect some of the best emerging opportunities in our region.”

The finalists will present at the Tenth Anniversary SEBIO Investor Forum, December 4-5, 2008 at the Breakers in Palm Beach, FL. They will present to the full conference audience, which includes more than 400 industry leaders from across the region, and hundreds of investors from the Southeast and around the world. One SE BIO/Plan Competition winner will be announced and recognized in a special ceremony at the Forum. The winner will be awarded a substantial, non-dilutive prize of $100,000.00 with which to implement its winning plan.

To learn more about the SEBIO Investor Forum and to register, please visit

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