PLYMOUTH, MI--(Marketwire - March 14, 2013) - BioSavita announced today that Accelerate Michigan named it the top life sciences company in its annual business plan competition. The Accelerate Michigan Innovation Competition is the largest business plan competition in North America and annually awards $1 million in prize money. Accelerate Michigan's investor judges reviewed more than 300 business plans, selected 50 semifinalists and selected 10 finalists after pitches were made.
"The BioSavita team is honored and humbled to receive this recognition for our work to create new antibody and antibody-like drugs for devastating diseases. Working with our multiple large biopharma partners and our world class scientific team and advisors, we continue to exceed our growth expectations," stated James Kuo, MD, MBA, BioSavita's Chairman and CEO.
BioSavita's patented yeast platform technology enables the rapid and inexpensive production of antibodies, antibody-like drugs and complex recombinant proteins. The venture capitalists who served as judges for Accelerate Michigan were impressed by BioSavita's licensing business model, target market and the milestones already achieved in the business plan. The Company will continue to develop with pharma partners its pipeline of drugs including a biosimilar of Campath for the treatment of leukemia as well as multiple sclerosis. BioSavita is currently raising a new round of capital to further develop its technology, accelerate business development activities and strengthen its patent portfolio.
BioSavita is a biotechnology company focused on accelerating antibody development. Our genetically engineered strains of Saccharomyces cerevisiae yeast and Twin Cassette™ yeast expression vectors enable the rapid manufacture of fully functional antibodies, single domain antibodies, antibody-drug conjugates and fusion proteins. Multiple biopharma companies have licensed our technology. Our lead product in development is a biosimilar antibody of Campath. More information can be found at our website, www.biosavita.com.