Ringing in the New Year!
Welcome 2025!
As we reflect on 2024, our client companies achieved remarkable milestones:
Several companies secured significant funding through SBIR grants and venture capital, ranging from $400K to $10.2M. Others expanded globally, with one reaching 10 million screenings in India’s healthcare initiative. Notable achievements include Medicare/Medicaid code approvals, strategic partnerships in the Middle East, and breakthrough patents in biotechnology.
Our alumni continue to thrive, winning industry awards and securing additional funding for clinical advancement.
Here’s to continued innovation in 2025!
Client Company Wins in 2024
- Caravel Bio has been awarded a Small Business Innovation Research (SBIR) Phase 1 grant from the National Science Foundation (NSF). This prestigious award will fund our pioneering efforts to develop mid and high-throughput engineering methods for heterogeneous biocatalysts.
- During Phase 1, our research will focus specifically on advancing a novel lipase product. This innovative enzyme has diverse applications, including the production of sustainable aviation fuels and the synthesis of pharmaceutical ingredients.
- Our work aims to revolutionize biocatalysis, offering environmentally friendly and efficient solutions to some of the most pressing challenges in the biotechnology and chemical industries.
- With the announcement of our SBIR Phase I Funding in June, Caravel has added an additional $800,000 in venture funding to our pre-seed round. This will enable us to grow our team and increase throughput via automation.
- Joined OBI in May 2024.
- EndoRel completed the Biomedical Innovation Commercialization Readiness Program offered through OHSU. Through this program they were able to use the Innovation Within platform to further develop their business model and they received valuable guidance from the experienced and knowledgeable mentors.
- Joined OBI in October 2024.
- EnterX Bio earned the prestigious People’s Choice Award at the Innovation Pitch Competition during this year’s Biotech Summit. The company’s compelling presentation showcasing their breakthrough technology resonated strongly with the audience, who voted them as the most promising venture among all competitors. This recognition highlights both the innovative potential of EnterX Bio’s solution and its ability to effectively communicate its value proposition to the broader biotech community.
- Our early launch continues as United Medical Doctors becomes our first, in the state of California, to adopt the EVS at two of their centers. We are honored to be on this journey with such a passionate team; they are dedicated to expanding EUS access with a more affordable EUS system for their patients across several SoCal communities.
- The EndoSound team recently attended the annual Digestive Disease Week (DDW) in Washington, D.C. The event attracts over 13,000 GI professionals from industry to physicians. This was the product launch of the EndoSound Vision System(TM), or EVS(TM) to the community at large and we were busier than we’ve ever been fielding questions and obtaining leads.
- EndoSound has installed the EVS in several locations in the US, and we aim to substantially increase the number of locations by the end of the year.
- Lastly, we continue to expand our footprint at the Macadam facility by adding more storage and R&D space.
- EndoSound®, Inc., is thrilled to announce that the Centers for Medicare & Medicaid Services (CMS) has granted a Transitional Pass-Through (TPT) code, effective July 1, 2024, for the company’s EndoSound Vision System™, or EVS™, a revolutionary advancement in endoscopic ultrasound (EUS) technology. Read the article in Business Wire.
- EndoSound, a start-up in Endoscopic Ultrasound (EUS) in Gastroenterology, recently congratulated Stuart Akerman, MD of Texas completing over 120 cases with the EndoSound Vision System. Dr Akerman is leading the US in the number of cases completed.
- EndoSound is pleased to announce our partnership with Medoxa, a prominent, privately owned company based in the United Arab Emirates.
- Since 2018, Medoxa has been a key player across the Middle East and Africa, specializing in advanced surgical devices, endoscopic solutions, and wound care management. Their focus areas include innovative solutions for GERD, obesity, diabetes management, and vascular interventions.
- We are looking forward to providing access to EUS in EMEA, a market where this procedure has been underutilized.
- November was Pancreatic Cancer Awareness Month, a time to spotlight this challenging disease and the importance of early detection. At EndoSound, we know all too well the devastating impact of pancreatic cancer, which remains one of the deadliest forms of cancer.
- ESG Brands was named one of 35 U.S. Startups to Watch in the Chicago Business Journal.
- New executive advisory board established with our first board member. Our first executive advisor brings a lifetime of experience in the textiles business green fielding multiple international factories, leading institutional fiber testing labs for Uster, and with deep experience across cotton and bast fiber manufacturing and innovation while supporting USDA fiber initiatives.
- Secured $3.2m in matching grants from InterAmerica Development Bank (IDB) and USAID-Guatemala of which we’re seeking to match today.
- Public announcement by Administrator Samantha Power about our USAID award at the United Nations General Assembly for ‘Democracy Delivers’.
- First product in front of automotive, construction, and homegoods customers: a performance industrial nonwoven with increased tensile strength (increased safety), less density (reduce weight, increase MPGs), and the world’s first chemical-free natural nonwoven suitable for replacing synthetics and existing natural fibers (a product solution to California’s Prop 65). NFPP and NVH product types with a multitude of uses. Products imported under CAFTA-DR, USMCA (previously NAFTA), or are suitable under the Berry Amendment through US manufacturing.
- We were awarded a grant from Oregon Health & Science University’s new Oregon Clinical and Translational Institute (OCTRI) Regulatory Consultation and Assistance Program to help fund the development of an FDA 510(k) application for the use of our GPF diagnostic test in cardiovascular disease risk assessment.
- Our latest paper showing world record-high GPF levels in COVID-19 patients is now online.
- Gamma Diagnostics has been accepted to participate in the University Summer Investment Opportunity (USIO).
- Companies whose core IP comes from OSU, OHSU, UO, and PSU are able to apply for potential investment from premier investors, including: Portland Seed Fund, Elevate Capital, Oregon Venture Fund, ONAMI, Cascade Seed Fund, Willamette Valley Capital, Vital Enterprises, Industrial Technology Investment Corporation, VertueLab, Ideaship, and E8 Angels.
- Potential investments are estimated to be in the $25,000 – $250,000 range.
- Gamma Diagnostics presented new data at the Vascular Discovery meeting of the American Heart Association showing that high GPF levels are associated with death in COVID-19 patients.
- Gamma Diagnostics was approved to receive a TABA Needs Assessment Report from the NIH to assist with further business development for our funded NIH STTR grant, “Development of Antisense Oligonucleotides to Regulate Gamma’ Fibrinogen Levels.”
Major Successes
- Gazelle has been used in an important study in Haiti, published in Blood Advances, demonstrating improved follow-up rates when parents received their child’s sickle cell diagnosis at the point of care.
- India’s Sickle Cell Elimination Mission, aimed at screening 70 million people and eliminating sickle cell disease by 2047, has screened 10 million people so far. Hemex is proud to contribute to this initiative.
- Progress on India’s National Health Mission: Hemex has deployed Gazelle across 520 sites in 20 districts of Odisha, training over 700 doctors and technicians.
- Hemex is now selling Gazelle in 44 countries, reaching 1.5 million people with the Hb Variant (sickle cell) test.
Product Development
- Two new product enhancements for Gazelle were announced at Haematocon: The “Snap Cartridge” for the sickle cell test, which dramatically simplifies test preparation.
- A new ferritin test to help diagnose iron deficiency anemia, a serious global health issue.
- Research funded by a Phase I NIH NINDS grant is underway for a new Gazelle test to detect mild traumatic brain injuries in the field.
New Hires
- Dr. Sulatha Dwarakanath joined Hemex as Vice President of Assay Development, bringing over 25 years of experience in the biotech and diagnostics industry.
- Brie Stoianoff joined as Vice President of Quality Assurance and Regulatory Affairs, offering expertise in FDA regulatory frameworks to guide Hemex’s growth.
Awards and Recognition
- Hemex was awarded a Phase I grant from the National Heart, Lung, and Blood Institute to develop a 2-minute test for hemoglobinopathies and a test for oxygen affinity.
Conferences and Events
- Gazelle was featured in several studies presented at conferences:
- Dr. Cathy Segbefia presented at the FSCDR conference in Ft. Lauderdale, showcasing Gazelle’s utility in monitoring hydroxyurea therapy in Ghana.
- Lucy Osei Ababio presented at the European Hematology Association (eHA) Hybrid Congress on integrating Gazelle into primary healthcare in rural Ghana.
- Gazelle participated in India’s premiere hematology conference, Haematocon, and other events in India, Africa, and ASCAT ’24 in London.
- Founders Patti White and Peter Galen presented Gazelle to the Chief Minister of Gujarat at the Vibrant Global Investment Summit in India.
Infrastructure Development
- Hemex opened the Coimbatore Design Center (CDC) in Coimbatore, India, which is now fully operational with a leadership team in place.
Product Development
- CryoFast™, an ML-based solution for cryo-EM workflow automation, is being tested at PNCC/OHSU with great progress. Further testing planned at NYSBC and other sites.
- CryoFast data collection architecture uses deep learning to fully automate Cryo-EM data collection and processing workflows, improving throughput, accuracy, and cost of structure determination.
- CryoFast 1.0 to be released at M&M’24 (July 29–August 1) in Cleveland, OH, showcasing its ability to double throughput with 50% cost savings.
- UCSF has deployed CryoFast in their production environment.
- New product enhancements for CryoFast’s GTM (go-to-market) plan include defined channels, pricing, and launch timeline.
- CryoFast was presented at the first Cryo-EM Symposium in Portland, Oregon, on November 7.
Awards, Grants, and Recognitions
- Submitted NIH SBIR Phase 1 grant proposal titled “Volume Electron Microscopy Vision Systems for Tumor Biopsy Analysis,” with strong endorsements from OHSU/KCI and Business Oregon.
- Received letters of support from Dr. Gordon Mills, Dr. Joe Gray, Dr. Xubo Song, Jessica Riesterer, and Thermo Fisher.
- Supported by National Science Foundation (NSF), OHSU, and Business Oregon for the development and launch of CryoFast 1.0.
- Draft of NSF Phase 2 final report is in progress.
Conferences and Presentations
- CryoFast presented by PNCC at the NIH conference with great support from cryo-EM users.
- HTI attended BIO2024 conference in San Diego (June 3–6) at the Oregon BIO Pavilion.
- CryoFast will be presented at an April NIH invitation-only event.
- Planning underway for M&M’24 presentation in Cleveland, OH.
- Presented HTI’s investment pitch to investors at JPM2024 and received positive feedback.
Partnerships and Collaborations
- Signed an MSA with a major pharma company for a second Cryo-EM project.
- Collaboration with OHSU/KCI for the vEM grant proposal.
- Received support from key partners for CryoFast product demonstrations and press releases.
Press and Publicity
- Issued two press releases showcasing CryoFast’s capabilities and partner support for product demonstrations.
Progress on Related Projects
- Continued progress on vEM (Volume Electron Microscopy) grant proposal with contributions from Zeiss.
- Planning underway for CryoFast’s deployment at additional sites and production environments.
- Keliomics has received a $400,000 SBIR Phase 1 grant (1R43CA291515-01) from the National Cancer Institute (NCI) to validate our ex vivo breast tumors for fast, clinically relevant biopharmaceutical development. This funding supports our efforts to recreate disparities in patient responses to neoadjuvant chemotherapy in HR-/Her2+ breast cancer, as reported in clinical trials. The goal is to stand up the first ex vivo tumor platform that recreates clinical trial data.
- Keliomics welcomes Dr. Smriti Agrawal, Ph.D., a pioneering biotech innovator and former co-founder of Lazarus 3D, as Co-Founder and Chief Commercial Officer to help advance their mission of revolutionizing drug discovery through organ-scale modeling technology.
- ProMedix is one of the Consortium for Technology & Innovation in Pediatrics‘ 2024 Health Equity FlexGrant winners!
- ProMedix has developed “PeriFRL” – a noninvasive, peripheral blood flow monitor for early detection of septic shock.
- Selected as one of the Growth Stage Semi-Finalists for the 2024 Bend Venture Conference.
- Awarded a Business Oregon matching grant to focus on market expansion for their AI-powered biomedical image processing technology. Read the Business Oregon press release.
- Senju USA, Inc. Pharmaceutical and Eyenovia, Inc. collaborated on Novel Dry Eye Treatment. Under the agreement, Eyenovia and Senju plan to present a clinical development proposal to the U.S. FDA aimed at supporting a New Drug Application (NDA) for a novel drug-device combination product.
- Sirona secured a government contract (> $500K) with the US Department of Defense to develop a custom ultra-deep immune profiling panel to accelerate the development of vaccines against viral and bacterial pathogens. Great demonstration of the depth of knowledge and dedication of our scientific team.
- Secured contracts for our specialized single cell multi omics and spatial biology capabilities with numerous leading pharma and biotech companies including a $1.4M contract to support a phase 2 clinical trial.
- Sirona is leader in profiling complex biology with single-cell resolution to reveal the next generation of precision biomarker signatures. Our team has developed multiple, propriety immune oncology profiling panels which can accelerate immunotherapy development and distinguish responders vs non-responders. Our team’s leading edge expertise in single cell biology and digital pathology has attracted 9 out of the top 20 global pharma companies (J&J, Gilead, Amgen, Eli Lilly, Pfizer, Boehringer Ingelheim, Merck, AstraZeneca, and Moderna). We are initiating new contracts in 2024 that will triple revenue compared to 2023.
- In addition to maintaining our CLIA accreditation and passing the last 3 audits with Zero Deficiency, our QA team developed and implemented an advanced Quality Management System enabling us to operate under GCLP guidelines and support two Phase 2 clinical trial studies in 2024. An important aspect of this includes the development of leading edge, validation strategies, enabling our clients to submit single cell biology readouts in FDA submissions.
- Grants received: Working on an SBIR for spatial biology. We are also focused on applying for state funded grants.
- New board members: We are excited to have Dr. Carlo Bifulco, Chief Medical Officer @ Providence Genomics, Translational Molecular Pathology, joining our Scientific Advisory Board.
- Recent contracts and partnerships: Sirona is the process of signing a master collaboration agreement with Providence Clinical Research to advance the Sirona cutting-edge technologies which allow us to provide insights and analytical capabilities that were previously unimaginable, offering our clients a comprehensive understanding of the complex interactions within the tumor microenvironment and the immune system.
- Thaena’s patent for the composition of a fecal-derived, sterilized postbiotic in anti-aging and neurotherapeutic applications is being issued this month! This will be Thaena’s first of hopefully many issued patents, and it marks a major milestone in Thaena’s mission to harness the power of the microbiome through its groundbreaking postbiotic dietary supplement, ThaenaBiotic®.
- Velanidi was recently awarded two patents. Patent 1: Molecular wire for detecting biological or chemical entities or events Patent 2: System, apparatus and method for sensing, detecting and effecting in a micro-to-nano environment
- Vivifi Medical is making great progress in BPH and early-stage prostate cancer surgery. Read their press release.
OBI Alumni Updates
- PDX Pharma received continued Phase II SBIR funding from the National Cancer Institute (NCI) to support a novel lung cancer treatment, ARAC-02. Read more here.
- They have received a fast-track SBIR award from the National Cancer Institute, which focuses on development of a drug candidate named PETTRA (PLK1 and EGFR Targeted Therapy and Radiation sensitizer) for lung cancer treatment. The budget is about $2.4M over 3 years. Read more here.
- They have been selected as one of six semi-finalists for the 2023 AIM-HI Women’s Venture Competition.
- They were granted a new US patent (11,679,082) on nanoparticle co-delivering broad ranges of mitotic kinase inhibitors and immune checkpoint inhibitors.
- Their EU patent application (16765662.8) on the core Pdx-NP delivery platform received the notice of allowance.
- They received a fundable score on their pending Commercialization Readiness Pilot (CRP) grant application at the NCI. The budget is about $250,000 over 2 years.
- Their drug candidate, ARAC-02, was selected into the Nanotechnology Characterization Lab (NCL)’s collaborative program funded by the NCI.
- They published a review article at SMALL (impact factor 13.3) on the topic of ‘Nanotechnology Applications in Breast Cancer Immunotherapy,’ in a special issue of Nanomedicine for Women’s Health.’ Read more here.
- Big news for Sparrow: They recently raised $10.2 million for clinical trials for a drug therapy for treat endocrine disorders caused by excess cortisol. Congratulations!
- Connor Barth, PhD and Trace Bio won the FastPitch Judge’s Award and a $5000 prize at Life Science Innovation Northwest in April!
- See Connor and his big check in OHSU Innovates’ LinkedIn post.
- Selected as one of the Growth Stage Semi-Finalists for the 2024 Bend Venture Conference.
- In February, Veana closed on an additional $400,000 tranche in our Seed 2A Round.
- We also hired Dr. Patricia Beckmann as the new CEO, Dr. Emmanuel Akporiaye will remain with Veana as CSO, appointed Dr. Sandy Shotwell as Board Chair and attracted a new seasoned biotech Board member (Stephen Malaska, J.D., General Counsel at Karius).
- In January we also expanded our clinical trial from U. Washington/FHCRC to now include Providence Cancer Center, Portland, too. We also enrolled our first Oregon patient in the trial.
Congratulations on your hard work and successful endeavors! You’re creating wonderful innovations for healthcare.
Thank You for Your Continued Support!
OBI is gearing up for some excellent free entrepreneurial programming this year, designed to support startups of all stages of development across the state. We have monthly Lunch & Learns on all kinds of interesting topics geared toward the life science community, regular Happy Hour networking events, and a robust BioMentoring program.
We are so pleased to be able to bring you these valuable programs and events, and we thank you for your support over the past 10 years since our incubator opened. To help support our upcoming educational offerings, each of our programs has sponsorship opportunities available. We also have Platinum, Gold, and Silver corporate sponsorship packages for a year-long impact.
To continue your support of OBI’s programming with a tax-deductible sponsorship, please take a look at our Sponsorship Kit and contact Adrienne Klein for sponsorship or questions.
Upcoming Events
OBI Accelerate Happy Hour Networking
January 9 | 5:30-7:00 PM
OBI Event Space, Portland
Free! Register here
Workshop: Scaling Biotech and MedTech Startups
January 29 | 1:00-4:00 PM
OBI Event Space, Portland
Register Here
America’s Seed Fund Week
and Virtual Road Tour 2025
February 11-13
Virtual
More information here
ITHS Biomedical Innovation Fireside Chat Series
Jan 16 & 30, Feb 13 & 27, Mar 13 | 2:00-3:00 PM
Virtual
Free – register here
Entrepreneur Support Org Reverse Pitch
January 30 | 8:00 AM
Metro Region Innovation Hub, Portland
Get tickets