New Orleans Startup 'RDnote' Focusing on Patient Diets Wins Statewide BioChallenge Business Competition
Pitch event featured four regional startups developing life-saving new healthcare technologies
NEW ORLEANS — The New Orleans BioInnovation Center announces that RDnote has won the 2017 BioChallenge pitch competition, an annual business challenge for Louisiana life science startups. Four companies pitched in the competition finals today at the Joy Theater on Wednesday Nov. 8, and New Orleans-based startup RDnote won the competition’s $25,000 grand prize.
The digital health startup helps healthcare providers deliver quality care and receive compensation for effective, customized nutrition interventions with high-risk patients in hospitals and clinics. This can have demonstrable impacts that improve patient health outcomes, and the company is already working with Lafayette General Health.
“RDnote will have an incredible impact on improving how nutrition is integrated into care for patients in Louisiana,” said Aaron Miscenich, President of the New Orleans BioInnovation Center. “We’re proud to highlight all four of these outstanding teams of entrepreneurs, and we look forward to seeing their future impact on healthcare in our region and around the world.”
The other finalists were Instapath, Obatala Sciences, and Ready Responders. Every year, one in five U.S. patients receiving a biopsy to diagnose cancer will need to repeat the procedure due to inadequate biopsy quality. Instapath’s new solution can provide an exact picture of a whole biopsy within seconds, thus ensuring biopsy quality, shortening procedure times, preventing repeated procedures, and speeding life-saving interventions.
Obatala is developing a fat-on-a-chip technology for use in drug discovery. This screening tool will help academic and pharmaceutical researchers identify more effective lead drug compounds and reduce the time, money, and efforts required in testing potential drugs to treat obesity, diabetes, and other metabolic diseases.
Ready Responders develops networks of EMTs and health professionals to respond to 911 medical calls in partnership with ambulance services. With rapid deployment and telehealth technology, Ready Responders speeds response times, directs patients to suitable points of care, and reduces ambulance transports and use of overcrowded ERs.
Two other prizes were awarded. The New Orleans BioFund, a micro venture capital fund and subsidiary of the BioInnovation Center, awarded RDnote an additional $25,000 investment prize. Audience members selected Instapath via a text vote to win the $2,500 Audience Favorite Award. Each company presented an eight-minute pitch to six national health and life science investors from across the country, who then asked questions, provided feedback, and scored each pitch.
Developed and run annually by the New Orleans BioInnovation Center, the BioChallenge supports new businesses that will generate jobs and economic growth in Louisiana. The competition has awarded more than $175,000 in funding prizes to regional companies since it was launched in 2012. The competition was presented as part of the Center’s annual Innovation Louisiana series of events, which highlights scientific discoveries from universities and startups across the state. Learn more at www.neworleansbio.com/innovationla.
About the New Orleans BioInnovation Center
Opened in 2011, the New Orleans BioInnovation Center is a not-for-profit business incubator that fosters entrepreneurship and supports life sciences technology innovation across Louisiana. The Center offers office and lab facilities, educational events, business consulting, and the New Orleans BioFund capital program to emerging startups as they work to bring new technologies to the market. From cancer treatment to water management, these include diagnostic tools, drugs, medical devices, health IT platforms, and clean technologies with great promise for addressing a wide range of medical and environmental problems. The BioFund has injected over $3 million in capital into more than 15 regional companies in a variety of industries. Overall, the Center’s programs have supported and empowered more than 200 new Louisiana companies that have created nearly 400 jobs and attracted nearly $100 million in funding to the region. Learn more at www.neworleansbio.com.