INDIANAPOLIS - Indiana's life sciences initiative has named the finalists for its sixth annual New Venture Competition. BioCrossroads says the five finalists will compete for a total of $50,000 in cash prizes next week during the 2017 Indiana Life Sciences Summit.

The winner of the competition will receive a cash prize of $25,000 as well as access to the Indiana Seed Fund staff and the fund's network of business planning and early-stage strategic support resources. Second and third place winners will receive $15,000 and $10,000, respectively.

The competition was open to health information technology companies as well as companies in other life sciences disciplines, including biotechnology, pharmaceutical, medical device, diagnostic and ag-biotech. The five finalists include:

  • Indiana Lysis Technologies: A product-based discovery company with core-competency in nanoparticle drug delivery seeking to initially commercialize a patent-pending clot dissolving technology.
  • Inscope Medical Solutions: A medical device company focused on developing low cost, disposable, connected medical devices.
  • LIGHTSPRITE: Specializing in design, manufacturing and sales of nanoparticle characterization systems using Light Transmission Spectroscopy (LTS).
  • LoDos Theranostics: A development stage oncology company developing a “first in class” UVA therapy for deep tumors.
  • The Bee Corp: A company whose mission is to mitigate beehive loss through data analytics and software development.

The winners will be announced at the Indiana Life Sciences Summit Networking Reception on October 9 in Indianapolis.

BioCrossroads says, since 2012, the New Venture Competition has awarded more than $300,000 to 20 startup companies, which have since secured more than $26.5 million in follow-up funding.