NEW YORK, Sept. 29, 2014 (GLOBE NEWSWIRE) -- Mid-Atlantic Bio Angels (MABA) announces today that RAbD Biotech, LLC (http://rabdbiotech.com), a Philadelphia area company that is developing a unique approach to treat ovarian cancer, was chosen as "Best in Show" at MABA's 1st Pitch Life Science event, which took place September 16, 2014 in Philadelphia.
Using its knowledge-based protein design methodology, RAbD is developing a drug that acts on a receptor known as MISIIR, a functional but untapped target present in ovarian cancer cells. MISIIR can interact with a naturally occurring hormone called MIS, and when ovarian cancer cells are exposed to MIS, they die. However, decades of effort have failed to produce an ovarian cancer drug based on this promising pathway.
RAbD's compounds are designed to kill ovarian cancer cells by mimicking the behavior of MIS. If successful, the result will be a breakthrough, first-in-class ovarian cancer treatment.
"First Pitch PA was our first event outside of NYC, and the reception was beyond our expectation. The attendance was close to 100, validating the need for and importance of this series outside New York," said Yaniv Sneor, 1st Pitch Panelist, MABA Co-Founder and President Blue Cactus Consulting. "The three presenting companies accepted input from the audience with grace, even when the audience was, at times, tougher than the angel investors in the panel. Ultimately, the audience awarded the well earned title of "Best in Show" to RAbD Biotech, which did a superior job in communicating its value proposition."
"The feedback from the panelists and the audience highlighted our strengths as an early stage venture, but it also showed us where we need to tighten our message," said Brian Smith, Ph.D., MBA, Director of Business Development at RAbD. "As we seek investment capital, it is critically important that we understand the lens through which we will be evaluated. 1st Pitch helped us gain this perspective, and the networking contacts we made at the event are invaluable."
About 1st Pitch Life Science
At a 1st Pitch event (http://www.1stpitchlifescience.com), early stage life sciences and healthcare companies make a 15-minute presentation to a panel of experienced life science investors and consultants, followed by a 15-minute audience Q&A. However, where actual investors would then ask the presenting company to leave the room during their subsequent discussion, presenting companies at 1st Pitch are invited to hear the panel constructively critique the company's presentation, business model and perceived viability in the market.
About MABA
Mid Atlantic Bio Angels (http://bioangels.net) is a group of active angel investors, which meets in New York City monthly (except July and August) solely to hear from pre-screened early-stage life science companies. MABA members consist of individuals from Delaware to Massachusetts with significant expertise and experience in the biotechnology, pharmaceutical and healthcare industries, including former and current corporate executives, doctors and Ph.D. scientists with product development backgrounds, successful medical entrepreneurs and analyst/investors focused on life sciences. MABA's goal is to create an environment where the depth of investors' knowledge coupled with the pre-screening of presenting companies enhances the potential for meaningful investment.
About RAbD Biotech, LLC
RAbD Biotech (http://rabdbiotech.com), a discovery stage startup, was formed with the vision of transforming cancer therapy. Using a knowledge-based approach, RAbD is designing and developing protein therapeutics against promising but challenging disease targets. RAbD's scientific founders have over 70 years of combined experience in studying, designing, and testing cancer biologics. RAbD's lead agent, RAD-003, is a potential first-in-class treatment for ovarian cancer, an indiscriminate disease characterized by high mortality and few therapeutic options.