Medical firms sweep Venture Forum contest
Medical companies swept The Venture Forum’s Five-Minute Pitch Contest Tuesday night, with the producer of a “smart pancreas” taking home $3,500 in prizes.
Admetsys, of Boston, won both the $2,500 first prize and the $1,000 audience choice award at the forum’s ninth annual contest, according to a statement from the organization. Admetsys won for a product that automates glucose and insulin delivery to hospitalized diabetic patients. It expects to improve the economics of health care by addressing the nation’s diabetes epidemic, which accounts for more than 20 percent of health care spending annually. The company will begin prototype production within months and clinical trials early next year, according to The Venture Forum.
VitaThreads, a company founded by WPI professors which makes rapidly absorbent sutures, took the $1,500 second prize, and Articulate Labs won special mention from the judges for an orthopedic device that speeds recovery from knee surgery.
The Venture Forum is a not-for-profit organization that focuses on technology entrepreneurs.
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