GenNext Technologies Wins the $250,000 Grand Prize at the BioTools Innovator Capstone Event
LOS ANGELES–(BUSINESS WIRE)–#diagnostics—BioTools Innovator, the first-ever accelerator focused on life science tools companies, announced today that GenNext Technologies is the grand prize winner of the BioTools Innovator 2022 Final competition. The winning company was determined by a live audience vote on Thursday, October 13 at the BioTools Innovator Capstone Event in Carlsbad, Calif.
GenNext Technologies, the winner of the $250,000 non-dilutive Grand Prize and the title of 2022 BioTools Innovator, is a San Francisco Bay Area life science startup, developing the FOX™ platform to elucidate the critical role that protein Higher Order Structure (HOS) plays in the safety, stability, and effectiveness of biotherapeutics. By integrating its novel platform into its customers’ structural biology workflows, the company aims to speed drug development in ways that have never been done before.
“Our experience with BioTools Innovator was incredible. The program gave us unprecedented access to industry experts and partners who together have helped us chart an informed path to long-term success,” said Scot R. Weinberger, president and CEO of GenNext Technologies. “We look forward to using this experience to springboard our growing presence in biopharmaceutical research, where customers are using our novel technology to answer key drug development questions in days rather than weeks and months.”
More than 160 companies applied to the BioTools Innovator 2022 program, of which 26 companies were invited to pitch during the Road Tour, with 14 companies ultimately participating in the 2022 Cohort. Ananda Devices, Cellbox Solutions, CellChorus, DropGenie, and RealSeq Biosciences each received a prize of $10,000 as finalists selected from this year’s Accelerator program. Opera Bioscience was also voted the winner of the $5,000 Best Video Award for their one-minute pitch video.
“Congratulations to all of the BioTools Innovator 2022 cohort companies, and especially to our top winner, GenNext Technologies. Now in our second year, BioTools Innovator and our sponsors, have identified and supported dozens of companies developing new and innovative life science tools and diagnostics,” said Kathryn Zavala, managing director of BioTools Innovator. “We are thrilled for GenNext Technologies to take home the $250,000 grand prize, to support the development of their FOX™ tool. BioTools Innovator was launched to advance life science tools innovation and this award will help GenNext Technologies achieve its next milestone.”
GenNext Technologies participated in the BioTools Innovator 2022 Accelerator program, which provides early-stage companies with in-depth, customized mentorship from key leaders in the life science and diagnostics industries, exclusive networking opportunities and workshops, and high-profile visibility to investors, strategic corporates, and potential customers. Judges of the 2022 final competition included: Chad Souvignier, vice president, Research Corporation Technologies (RCT); Bryan Poltilove, operating partner, BroadOak Capital Partners; Norio Hashimoto, general manager, Life science and materials Dept., Nissan Chemical America Corporation; and Julia (Zhu) Zhen, Director, Strategy & Business Development, Cell and Gene Therapy, Thermo Fisher Scientific. The audience ultimately voted for the winner.
“Congratulations to GenNext Technologies for receiving the title of the 2022 BioTools Innovator,” said Chad Souvignier, vice president of RCT. “We look forward to tracking their success as they continue to increase their presence in the market. The breadth and depth of all technologies presented at the final competition validate the strong need for an accelerator dedicated to the support of innovation in life science tools that can impact the drug discovery process and improve outcomes, and we are proud to be a founding member of that growing ecosystem.”
“This year’s BioTools Innovator cohort had so many well-qualified companies. While there could only be one winner, it was exciting to hear from all of the entrepreneurs at the cutting edge of cell and gene therapy, single cell genomics, and more,” said Bryan Poltilove, operating partner at BroadOak Capital Partners. “Congratulations to GenNext Technologies for taking home the top prize. We applaud the BioTools Innovator team and the work they are doing to bring together the most promising new products and founders in the industry.”
A complete list of the BioTools Innovator 2022 Accelerator companies can be found here.
BioTools Innovator provides startups with individualized mentorship and feedback, funding opportunities, and continual engagement with peers and advisors. Funding for BioTools Innovator is provided by the Frederick Gardner Cottrell Foundation of Research Corporation Technologies, Inc. (RCT). Additional support is provided by BroadOak Capital Partners and Nissan Chemical America Corporation.
About BioTools Innovator
Based in Los Angeles, BioTools Innovator was established to advance cutting-edge research and improve human health by accelerating the growth of a broad spectrum of life science tools and diagnostics. BioTools Innovator matches industry leaders with innovative early-stage and emerging growth biotechnology-focused companies for mentorship and support. BioTools Innovator is powered by MedTech Innovator, the largest accelerator of medical device companies in the world and the premier nonprofit startup accelerator in the medical technology industry.[i] To date, MedTech Innovator has supported 421 alumni that have gone on to raise $5.8 billion in follow-on funding, brought 135 products to market, and achieved 31 exits.
For more information about BioTools Innovator, visit http://biotoolsinnovator.org/ and follow @BTInnovator on Twitter and on LinkedIn.
[i] Gibbs, M., Johnson, B., Silva, B. A., & Berube, K. (2020, July 10). Q2 2020 Life Science Accelerators Insights Cipher Bio. Retrieved September 15, 2020, from https://www.cipherbio.com/blog/life-science-accelerators-insights/
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