Tuesday, 19 January 2021

Spinoff Prize positions Proteona among top 44 science-based global spinoff companies

06 July 2020 | News

Proteona is one of the three Asia-based companies that made it to the prestigious list

Photo Credit: Proteona

Photo Credit: Proteona

Proteona has been selected by the Spinoff Prize as one of the top 44 science-based spinoff companies from around the world. The Spinoff Prize is established by Nature Research in partnership with the Merck Group. The award highlights spinoffs who take top-quality scientific research to the market and make a positive impact.

Proteona is recognized for addressing the clinical need in multiple myeloma, a blood cancer that is difficult to treat. Different patients, or even tumor clones within the same patient, may respond to drug treatment differently. Choosing the right drug is challenging. Proteona uses single-cell proteogenomics and artificial intelligence-assisted algorithms to measure tumor cell diversity in a patient biopsy, which can help clinicians choose the best treatment for individual patients.

“It is a great honor to be recognized by the Spinoff Prize award, issued by Nature research, who represents the top scientific standard, and by Merck, an industry leader well known for its accelerator programs and technology innovation.” Said Dr. Andreas Schmidt, CEO of Proteona. “It adds credibility to the science and business we are doing at Proteona, and provides momentum for us to achieve the next milestones. This comes just at the right moment for our upcoming fundraising campaign, which will be launched in a few weeks’ time.”

The Spinoff Prize application was open to all spinoff companies worldwide from fields of pharmaceuticals, agriculture, chemicals and digital technology. The companies were selected by a judging panel consisting of experts from Nature Reseach, Merck, and M Ventures. All companies were evaluated in five criteria: the science, the opportunity, the plan, the team, and the impact.

Proteona is committed to improving the clinical outcome of multiple myeloma. Proteona has recently been selected by Amgen as part of the Start-ups Meets Pharma program to improve multiple myeloma treatment selection.

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