Ten innovative life sciences and healthtech companies enter 16-week accelerator
RICHMOND, VA, August 19, 2024 – Activation Capital, an innovation ecosystem development organization, has announced the selection of 10 fast-growing startups from across the country for the inaugural Frontier BioHealth program, which commenced with an in-person gathering on August 8-9, 2024. Each company will benefit from highly specialized training, targeted mentorship, and extensive relationship-building opportunities to accelerate its growth in the life sciences and healthtech sectors.
Frontier BioHealth by Activation Capital is an educational and support program designed to provide highly specialized training, targeted mentorship, and relationship building to help scale pharmaceutical, biotech, medical device, and health-focused consumer products companies. As an independent nonprofit corporation operating on behalf of the Virginia Research Biotechnology Partnership Authority, Activation Capital is committed to advancing life sciences and other cutting-edge technologies through scientific research, commercialization, and ecosystem development.
The innovative startups selected for Frontier BioHealth are:
Atticus has developed a unique, sustained-release system for delivering therapeutics directly to the skin.
GenAssist has created MyoMatrix, a patented biomaterial that regrows muscle lost to disease or traumatic injury.
Gisens Biotech’s saliva test allows patients with chronic kidney disease (CKD) to monitor their health from the comfort of their home and receive personalized and timely care.
KeViRx is transforming acute lung injury patient care through the development of novel small molecule drugs.
Light Switch Bio is developing an approach for laser-targeted drug delivery to avoid side effects by using lasers to activate drugs only where they’re needed in the body.
Oncoustics creates advanced AI solutions for low cost, non-invasive surveillance, diagnostics, and treatment monitoring of diseases with high unmet clinical need.
OrthoPreserve’s meniscus replacement implant improves quality of life for people with knee injuries involving the meniscus.
Pele Therapeutics is powering the patient in vivo protein therapy revolution to treat devastating and debilitating metabolic and fibrotic diseases with safer, effective, and (dare we say) affordable gene/protein therapy.
Rapid Forensic Cell Typing (RFCT) is revolutionizing criminal investigations by providing law enforcement and crime labs with a powerful SaaS platform that enables rapid identification and prioritization of forensic evidence
Vizma Life Sciences’ device enables MRI scanners to directly visualize treatment response in days, rather than months.
“Frontier BioHealth embodies Activation Capital’s commitment to fostering innovation and entrepreneurship in the life sciences,” said Jim Pannucci, Vice President of Entrepreneurship at Activation Capital. “We are excited to see how these talented startups will leverage our resources and mentorship to make a significant impact in their fields. This program not only supports these innovative companies but also strengthens the Richmond entrepreneurial ecosystem, making it a thriving hub for future growth and success.”
Funded (in part) through a grant with the U.S. Small Business Administration, the program offers access to a wide variety of resources from Activation Capital and its national-level partnerships with gener8tor, FedTech, and Fat Robin Consulting. Participants will benefit from tailored educational programming, expert coaching from global thought leaders and serial biomedical entrepreneurs, investor access, corporate partnerships, and fully funded travel to Richmond, VA.
The team received 150 global applications and conducted a thorough review process. Each written application was meticulously evaluated for program applicability and technology feasibility, leading to 75 companies being invited to the first round of interviews. This stage focused on assessing openness, commitment, and readiness, resulting in 30 companies advancing to the second round of interviews. From there, the selection was narrowed down to the 10 companies listed above who received an offer to join the program. The success of the review process was bolstered by the participation of multiple reviewers from Frontier BioHealth’s partner organizations (Activation Capital, gener8tor, FedTech and Fat Robin Consulting) and external industry experts, including seasoned investors, government agencies, and medical device companies. The final 10 companies were chosen based on their growth potential, technology fit, team strength, and investor readiness.
“The 2024 cohort features some of the most passionate and talented founders and innovative technologies in life sciences today,” said Jackie Mejia, Managing Director of Frontier BioHealth. “These startups have immense potential to scale and succeed, significantly impacting the life sciences and healthtech industries. We are excited to support their growth and see how the Richmond ecosystem can foster their development.”
At the end of the Frontier BioHealth program, the startup founders will pitch their companies to investors, community partners and the public at the Final Showcase event in Richmond, VA on November 20, 2024 (https://bit.ly/FBH2024Showcase).
To learn more about Frontier BioHealth, apply for future programs, or explore mentorship and other involvement opportunities, visit the Frontier BioHealth website (frontierbiohealth.com) or contact Managing Director Jackie Mejia at jackie@gener8tor.com.
Meet the 2024 Cohort
Leigh Hsu, CEO | lhsu@atticuspharma.com | 858.395.3870 | Greeneville, SC
Atticus has developed a unique, sustained-release system for delivering therapeutics directly to the skin. The first product uses this topical delivery technology to administer anandamide over 12-24 hours onto cutaneous lesions in lupus patients, thereby increasing bioavailability of the drug and providing optimal therapeutic impact. The second product, for androgenic alopecia will be evaluated in human subjects in 2024. Atticus spun out of Zylö Therapeutics and incorporated in February 2024 after Zylö secured $4M in grants to develop the Atticus technology. Since then, Atticus has raised $500K as part of a $2M Bridge Note and added the world’s leading authority on cutaneous lupus to its clinical advisory board.
Joe Beggs, CEO | joe@genassist.co | 573.587.3058 | St. Louis, MO
GenAssist has created MyoMatrix, a patented biomaterial that regrows muscle lost to disease or traumatic injury. MyoMatrix recreates the natural muscle environment with proteins that support and stimulate muscle stem cells already in the body, forming new functional muscle tissue as MyoMatrix resorbs. GenAssist won a $295K Phase I SBIR grant from the National Science Foundation and is now testing MyoMatrix in a large animal model of muscle trauma.
Luis Pierpauli, CEO | luis.pierpauli@gisensbiotech.com | 415.996.6356 | Berkeley, CA
Gisens Biotech’s saliva test allows patients with chronic kidney disease (CKD) to monitor their health from the comfort of their home and receive personalized and timely care. Rather than constantly traveling to a clinic to undergo regular blood and urine tests, Gisens Biotech’s solution allows CKD patients to accurately assess kidney function within minutes by monitoring levels of urea and electrolytes from a single saliva sample. Gisens Biotech has 1 paid pilot with Roche pharma, 1 LOI from a major European research facility, 1 LOI from one of the largest NYC employers, and has raised $500K.
Elizabeth Sharlow, CEO | ersharlow@KeViRx.com | 724.996.5777 | Charlottesville, VA
KeViRx is transforming acute lung injury patient care through the development of novel small molecule drugs. The current standard of care involves inconsistent steroid treatment or mechanical ventilation, which can further damage lungs, without addressing the root cause of the disease. KeViRx’s small molecule drugs heal underlying lung damage and restore lung function by regenerating lung cell connections and blocking inflammation. Acute lung injury is caused by common viral diseases, like influenza and COVID, and inhalation of chemicals, like chlorine gas. KeViRx has raised $3MM in grant funding to show its lead asset to be effective in chemical and viral preclinical models of acute lung injury and is advancing toward the clinic.
Alex Ratti, CEO | rattija@lightswitchbio.com | 757.237.4020 | Richmond, VA
Light Switch Bio is developing an approach for laser-targeted drug delivery to avoid side effects by using lasers to activate drugs only where they’re needed in the body. The lead product, IR-Platin, is a laser-targeted version of a common chemotherapy, cisplatin, that’s known for its efficacy but also serious toxicities in healthy tissues that can limit its use and increase average costs of care by $10,000 per patient. Light Switch Bio received a $400K Phase I STTR Award from the National Cancer Institute to complete the first set of pharmacokinetic, toxicity and efficacy studies in mice.
Jonathan Schwartz, CEO | jschwartz@orthopreserve.com | 864.580.8230 | Atlanta, GA
OrthoPreserve’s meniscus replacement implant improves quality of life for people with knee injuries involving the meniscus. Traditional treatments remove the damaged meniscus tissue, which can lead to recurring pain and arthritis. OrthoPreserve’s meniscus implant preserves knee function by mimicking the natural knee tissue, reduces the risk of arthritis and the need for a knee replacement, and helps patients recover quickly and return to pain-free activity.
Beth Rogozinski, CEO | brogozinski@oncoustics.com | 415.203.6008 | Toronto, Canada
Oncoustics creates advanced AI solutions for low cost, non-invasive surveillance, diagnostics, and treatment monitoring of diseases with high unmet clinical need. By applying AI to raw ultrasound signals, Oncoustics rapidly differentiates healthy versus diseased tissues via novel acoustic biomarkers for virtual biopsy tools, surgical guidance and drug development. Their prospectively collected >4M+ pieces of data is the largest RF signal dataset in the world and includes clinical data on liver, prostate, kidney, breast and thyroid diseases and cancers. Initially targeting liver disease, a $65B+ global diagnostic market, Oncoustics is filing FDA submissions for the OnX liver assessment solution which has been introduced to over 70 clinics and hundreds of KOLs globally.
Anna Bulysheva, CEO | abulysheva@usf.edu | 704.877.9802 | Tampa, FL
Pele Therapeutics is powering the patient in vivo protein therapy revolution to treat devastating and debilitating metabolic and fibrotic diseases with safer, effective, and (dare we say) affordable gene/protein therapy. Overcoming immune rejection, cancer risks, complexity and economic challenges of leading viral gene therapies, Pele Therapeutics’ economical, non-viral gene/protein therapy platform is ideally suited to disrupt the $2.6T U.S. diabetes and arthritis markets. Pele Therapeutics’ IP-rich gene/protein therapy platform has been supported by State and Hospital System funding to advance preclinical R&D towards first in human use.
Jon Brew, CEO | jon@rapidforensiccell.com | 804.382.3214 | Richmond, VA
Rapid Forensic Cell Typing (RFCT) is revolutionizing criminal investigations by providing law enforcement and crime labs with a powerful SaaS platform that enables rapid identification and prioritization of forensic evidence. RFCT’s innovative technology analyzes crime scene samples in minutes, not days, including the ability to estimate the age of the sample or time since deposition, significantly accelerating case timelines, reducing backlogs, and improving judicial outcomes. Targeting a $25 billion global human identification market, RFCT has secured $600,000 in funding from an NSF Phase I grant and angel investors, developed a proven technology, and established early partnerships with crime labs domestically and internationally.
Carlos Dedesma, CEO | carlos@vizma.ai | 919.448.6187 | Chapel Hill, NC
Vizma Life Sciences’ device enables MRI scanners to directly visualize treatment response in days, rather than months. Vizma obliterates the concept of watchful waiting by providing timely insights into cancer treatment effectiveness, thereby empowering patients and their physicians to take meaningful action. This scalable breakthrough device leverages established clinical validation and positions Vizma to enhance an existing market of over 4 million annual cancer scans. Bolstered by over $1.3M in NIH SBIR grants, Vizma has achieved proof of concept animal imaging studies at 4 academic institutions
###
About Activation Capital
Activation Capital is a leading innovation ecosystem development organization providing social, knowledge, and financial capital to clusters, entrepreneur support organizations, and entrepreneurs – accelerating their progress through development and maturation. Activation Capital, an independent authority of the Commonwealth of Virginia, is on a mission to grow life sciences and other advanced technology innovation by promoting scientific research, commercialization, and ecosystem development that attracts and creates 21st-century jobs and companies. It operates the 34-acre Virginia Bio+Tech Park – the hub of life science and technology innovations in Central Virginia. It oversees the Cluster Accelerator for Advanced Pharmaceutical R&D and Manufacturing and supports developing and expanding the region’s startup ecosystem. For more information, visit www.activation.capital.
About the Program
Frontier BioHealth by Activation Capital is a comprehensive educational and support program designed to accelerate the growth of pharmaceutical, biotech, medical device, and health-focused consumer products companies. Supporting up to ten cutting-edge startups in each cohort, the program offers highly specialized training, targeted mentorship, and valuable networking opportunities. Funded by Activation Capital, participants benefit from months of tailored, mentorship-based programming that simplifies life sciences venture-building and healthcare regulatory frameworks. Startups gain access to local and national investor networks, assistance in engaging federal government funding, and hands-on guidance in deep tech venture building.
###
About gener8tor
gener8tor is a global venture firm and accelerator network that supports startups, workers, employers, artists and musicians across race, place and gender. gener8tor partners with companies, governments, universities and nonprofits to operate accelerator programs and conferences in more than 45 communities across 25 states and territories and three countries. Fast Company named gener8tor one of the Best Workplaces for Innovators in 2021 and 2022. The International Trade Council recognized gener8tor as the Global Venture Capital Firm of the Year in 2022.
About FedTech
FedTech‘s mission is to accelerate the commercialization of emerging technologies by connecting federal labs, entrepreneurs, and the market. We empower innovators to transform groundbreaking research into impactful solutions for both government and commercial applications, driving economic growth and advancing national security.
About Fat Robin Consulting
Fat Robin Consulting delivers growth strategy, ecosystem analysis and commercial acceleration to health focused companies of all sizes. Our platform approach brings best-in-class partners to drive efficient business scale up opportunities. We are pleased to bring our collaborators at Reason Street and Netnewideas to the Frontier BioHealth program.