New Brunswick Company Wins Regional Life Sciences Competitionadmin October 22, 2014
For Immediate Release
(Halifax, NS – October 22, 2014) — They invented, they pitched, and they conquered. NB-Biomatarix Inc. from Saint John, New Brunswick was named winner of the fourth BioInnovation Challenge at BioPort Atlantic 2014. NB –Biomatrix is going after the waste water treatment market valued at $90B. Their nano-technology liquid filter was deemed the most attractive for investment by a panel of judges dubbed The Commercialization Council and the conference audience. The company’s biodegradable Naqua-Pure™ has the ability to bind small particles such as heavy metal contaminates so that they can then be removed from the environment.
Dr. Keith Brunt, Chief Scientific Officer at NB-Biomatrix Inc. said, “As a finalist the pitch training alone was worth participating in the BioInnovation Challenge but actually winning means I can leverage the prize package to hire co-op students and advance our business.”
NB-Biomatrix will receive a prize package that includes $15,000 in seed funding and an advisory services package worth more than $30,000 including services provided by Cox & Palmer, Jennifer Cameron PR, Marsh Canada Ltd., PricewaterhouseCoopers and Sandler Training. NB-Biomatrix was up against Fenol Farm Inc. of Mount Uniacke and Athletigen Technologies Inc. of Halifax.
With evaluation criteria such as adaptability, market pull and consumer readiness, NB-Biomatrix edged the competition with higher marks from the panelists and conference audience.
“We had a great cohort this year, an excellent judging panel, and the three finalists presented extremely well today,” said Brian Lowe, chair of BioNova. “All three companies deserve the win, but there can only be one and NB-Biomatrix came out on top and I wish them every success moving forward.”
The BioInnovation Challenge was created by BioNova, Nova Scotia’s life sciences industry association, and a number of partners to help ease the transition from research laboratory to market. This year marked the second time companies from New Brunswick were able to compete for the Prize and the first year for companies from Prince Edward Island. BioNova partnered with its sister organizations, BioNB and PEI BioAlliance to open the competition to participants outside of Nova Scotia.
“This award brings recognition to a key sector in the Atlantic region, and proves that New Brunswick can hold its own as an innovator in life sciences,” said Meaghan Seagrave, Executive Director of BioNB.
The Commercialization Council:
Jeff Dawson, Corporate Finance Leader at PricewaterhouseCoopers, Halifax
Ross Finlay, Co-Founder and Director of the First Angel Network, Halifax
Patrick Keefe, Build Ventures, Halifax