Fourth Event Draws Large Crowd to Hear Companies Practice Pitches Before Experienced Industry Players, “Eavesdrop” on Expert Feedback and Vote on Quality of Presentations
LIGHTNING RELEASES: NEW YORK, NY (3/11/2014) – Mid Atlantic Bio Angels (MABA) announced today that Contine Corporation, based in New London, CT, had won “Best in Show” at MABA’s 4th 1st Pitch Life Science forum, which took place February 26th at the offices of Anchin, Block & Anchin in New York City. Before an expert panel of five and an audience of close to 100 people, Dr. Robert Spitz, founder and President of Contine, succeeded over two other companies, showcasing the company’s Flourish™ product, a single use, disposable, non-surgical device for prevention of stress urinary incontinence in women. The device can be easily inserted, positioned and removed by its user.
“Being selected as ‘Best in Show’ was certainly an honor, but it was the feedback, advice and contacts that were most valuable. There was a particularly helpful mix of expertise in attendance at the 1st Pitch meeting. In addition to other aspiring entrepreneurs, there were people involved in many of the services that are needed to support start-up efforts, and I was able to make some promising contacts,” said Dr. Spitz. “Because the event was promoted as an educational evening, everyone seemed to be open and willing to share their expertise, and there was a free flow of ideas rather than a group of vendors soliciting business. It was truly a supportive environment for helping to orient early start-ups in the right direction and well worth the drive from Connecticut.”
Commenting on Contine’s win, one of the panelists, Bruce Toman, Cornell Center for Technology Enterprise and Commercialization, stated, “Contine’s business plan is a rifle shot. The physician inventor/entrepreneur’s presentation was well aimed, leaving me wanting to hear more. The underlying story is equally good: a great idea met with good luck that added tons of value, then met with bad luck [a change of business focus by a strategic partner] that Bob’s persistence has turned into opportunity.”
Another panelist, Steve Goodman, a MABA co-founder and partner in the New York law firm of Pryor Cashman LLP, remarked, “The diversity of the companies which presented offered some excellent teaching opportunities, which is what this event is about. Contine provided the best example of articulating a market need and describing an appealing solution. Their win was well deserved.”
The format of a 1st Pitch meeting gives aspiring life science entrepreneurs the opportunity to get constructive criticism, as well as supportive suggestions, from a panel of knowledgeable and experienced industry representatives. Members of the audience, drawn primarily from the New York metro area life science community, also get to “eavesdrop” on the panel’s discussion and reactions to both the pitch and the business models. Attendees get to ask questions of the presenters and to vote on-line to express their own views on the presentations, including “best in show.” The audience includes representatives from major NYC institutions such as Cornell University – CCTEC, Lux Capital, Michael J Fox Foundation, Mount Sinai School of Medicine, NYU and more, many of whom are on the 1st Pitch steering committee.
Mid Atlantic Bio Angels (MABA) 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.
Contine focuses on developing conservative treatments for quality of life conditions in the area of women’s health. Many women avoid pharmaceutical and surgical options and seek simpler solutions that will improve their quality of life, rather than curing their condition. Contine enables women by providing for improvement and predictability as the means for managing chronic quality of life conditions. For more information about Contine’s Flourish technology please contact Dr. Robert Spitz, President of Contine Corporation located at 342 Montauk Ave. New London, CT. You may reach him at 860-443-3700 or at email@example.com