INDIANAPOLIS - BioCrossroads has announced the finalists for its annual New Venture Competition and the inaugural digital health competition known as the Indiana Inject Tech Challenge. The state's life sciences initiative says the winners of both events will be announced at the 2018 Indiana Life Sciences Summit next month.

The finalists in the New Venture Competition are competing for a total of $50,000 in cash. The competition is open to life sciences and health information technology companies in Indiana. The winner will also have access to the Indiana Seed Fund staff and resource network that can provide business planning and early-stage strategic support.

The five finalists include:

  • Predictive Wear:  Creates an easy to use, smart compression sock to aid in the elimination of medical complications such as venous ulceration and deep vein thrombosis. Capable of monitoring the patient’s progress and detecting complications in real time, Predictive Wear incorporates data, analytics, and sensors to improve patient outcomes. (Purdue University)
  • SalvePeds:  An early-stage pharmaceutical company offering the novel drug ND-336 as a topical therapy for the treatment of diabetic foot ulcers. SalvePeds’ goal is to provide an effective, safe and convenient therapeutic treatment for DFUs to improve the quality of life for patients and ultimately decrease the number of ulcer related amputations. (University of Notre Dame)
  • Structured Immunity: A biotechnology company focused on accelerating and de-risking the development of T cell therapies. They offer highly specialized R&D services to biopharmaceutical companies to enable the improved validation and optimization of T cell receptor molecules for safer, more effective therapeutic use. (University of Notre Dame)
  • Novosteo: Founded to reduce the morbidity, mortality and loss of productivity associated with bone fractures. Based on discoveries of agents that accelerate bone regeneration and breakthroughs in methods to target these agents selectively to fracture surfaces, Novosteo has designed a series of fracture-targeted drugs that concentrate a drug's healing power specifically at the fracture site. (Purdue University)
  • OmniVis: Features patented technology that uses a revolutionary sensing technique to quantify and analyze biomolecular solutions directly at the source. Their easy to use hardware device and consumable test kit attaches to a smartphone and reduces the detection process to 30 minutes, accurately and affordably. (Purdue University)

The Indiana Inject Tech Challenge, which was first announced in July, aims to "catalyze the creation of new, disruptive solutions designed to improve patient outcomes." The three finalists for the inaugural competition are: 

  • Indianapolis-based DigiBiomarker, an innovative platform capable of capturing digital information directly from patients through their smartphones or via a web-application;
  • Indianapolis-based Ecogenesis11, developing an artificial intelligence-based clinical trial platform to recruit and retain patients; and
  • Indianapolis-based Regenstrief Institute, developing a platform to effectively access and leverage social factors data to enable health care organizations to take further action and address the whole patient to attain better health outcomes.

You can learn more about the Indiana Life Sciences Summit and each competition by clicking here.