Oregon Entrepreneurs Network (OEN) and its partners announced the angel investee and Emerge Initiative awardee at the Angel Oregon Life & Bioscience (AOBIO) Grand Finale + Innovation Showcase, held May 17th in Portland.
ProMedix, Inc., a local medical device company focused on capillary refill time to diagnose and treat diseases ranging from sepsis to dehydration, earned the $175,000 angel investment from the program. Co-founder and CEO Scott Filer presented the company alongside finalists Frank Lau from Keliomics, Connor Barth from Trace Bioscience, Kabir Bhatia from StoneStable and Luke Marshall from VitalFlo.
“AOBIO has been a tremendous experience, and the ProMedix team was so excited to participate in the process. At each step in this journey, we have been encouraged and bolstered by an incredible array of investors, marketplace experts, and frankly, brand new friends. We are a stronger company as a result,” said ProMedix’s co-founder Scott Filer after the announcement.
The winner of the AOBIO 2023 Emerge Initiative Award was Saravit Wellness, founded by Dr. Siatta Dunbar. Saravit Wellness helps clients overcome the challenges that lead to poor sleep, fatigue and loss of vitality. Dr. Dunbar accepted the $5,000 non-dilutive award from The BFM Fund Principal Marquita Jaramillo and award sponsor, Umpqua Bank.
The second annual AOBIO hosted by OEN was presented in partnership with Oregon Bioscience Incubator (OBI), Oregon Health & Science University (OHSU) and Oregon Bioscience Association (OregonBio). The four-month program included entrepreneur education in addition to the angel investment competition and is one in a series of Angel Oregon events.
The AOBIO angel fund is made up of investments from 15 local investors and the Oregon Growth Board. Investors in the fund conducted due diligence on the applicants and selected a winner in a private vote, the results of which were revealed at the finale that was held at Amaterra Winery. Attendees included investors and venture capital firms, universities, government agencies, service providers, and nonprofits, representing a cross-section of the Oregon and Southwest Washington bioscience sector.
The finale also included special announcements of investments made by ONAMI totaling $300,000 to Trace Biosciences ($125,000), Keliomics ($100,000) and ProMedix ($75,000).
“ONAMI is thrilled to again be a part of the annual AOBIO event, and is particularly pleased with the quality of this year’s applicant pool, in which we found three excellent investments. We’re already looking forward to next year,” said Skip Rung, President and Executive Director at ONAMI at the conclusion of the event.
And Ideaship announced a $100,000 investment in Keliomics.
“Keliomics is truly a game changer in the fight against breast cancer so we’re thrilled to have met them through AOBIO. We look forward to digging in deeper with the other finalists as well, even after the big checks have been presented. Speaking personally, I’m ecstatic to have moved from a founder of AOBIO to an investor in it,” said Amanda Oborne, Managing Director at Ideaship
“This year’s event was really exciting,” said Cara Turano, President and Executive Director of OEN. “To catalyze a half a million dollars into local life and bioscience innovators is incredible and reflects that power of the OEN network bringing together founders, funders and folks supporting entrepreneurs. Congratulations to all the companies who participated and thank you to the many investors involved in the process.”
Oregon Entrepreneurs Network (OEN) is a 501(c)3 nonprofit organization dedicated to helping entrepreneurs start up and scale up. The organization hosts a mix of sector-specific Angel Oregon entrepreneur education and angel investment programs each year, including Angel Oregon Life & Bioscience (AOBIO), Oregon Tech (AOTech) and Oregon Angel Food (OregonAF), as well as the annual OEN Entrepreneurship Awards. Learn more at www.oen.org.
The Oregon Bioscience Incubator (OBI) is the state’s first and only bioscience-focused incubator. The multi-client company bioscience complex provides startups and scientists access to entrepreneurial mentoring, state-of-the-art bioscience facilities, meeting space and shared equipment. OBI is operated by Oregon Translational Research and Development Institute (OTRADI), a 501(c)(3) nonprofit funded in part by the Oregon State Lottery and administered by the Oregon Business Development Department. Learn more at www.otradi.org.
Oregon Health & Science University (OHSU) is a nationally prominent research university and Oregon’s only academic health center. It educates health professionals and scientists and provides leading-edge patient care, community service and biomedical research. Learn more about OHSU Innovates at https://www.ohsu.edu/innovates/about-ohsu-innovates.
The Oregon Bioscience Association (OregonBio)seeks to create opportunity through advocacy, cultivation, education and group purchasing discounts for its members and the sector. Oregon Bio promotes the growth and quality of the bioscience industry in the region and continually seeks ways to support sustainability, acceleration and growth in the life science, bioscience, biotechnology and device manufacturing industries. Learn more at oregonbio.org