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INQBATION LAB & INVO UPDATES
August/September 2024
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The InQbation Lab welcomed its 17th resident startup in August. HIDENN-AI (Prof. Wing Liu, McCormick) is developing convolution hierarchical deep-learning neural networks to simultaneously train, solve, and calibrate any advanced materials and manufacturing system. Their technology reduces solution time and data storage by orders of magnitude. HIDENN-AI is currently working on applying their technology to the design and manufacturing of biomedical products, as well as for optimizing the 3D printing of metallic components. To learn more about Q Resident Startups, visit the Q RESIDENT STARTUP PAGE.
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2024 Q SUMMER SCHOLARS DEMO DAY | |
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The Q Summer Scholars wrapped up their 8-week internships in August. This program provided entrepreneurial and fellowship opportunities to Northwestern undergraduates at Northwestern startups. Each Scholar discussed their summer projects and how they were integral to the companies. Congratulations to the 2024 Summer Scholars for all of their hard work and dedication this summer!
Pictured (left to right): Irene Martinez, WCAS'25 (Syenex), Julia Song, McC'25 (Rhaeos), Andrew Chin, WCAS'25 (Opera), Mackenzie Lanning WCAS '26 (Chang/IP Studio), Cheryl Tang, WCAS'26 (Temprian Oncology), Maura Madden, McC'25 (ARMA), Andrew Basinger, WCAS'25 (MSi), Aarav Lodha, McC'26 (MFNS), Angelina Shi, WCAS'25 (Volexion), and Katrina Peterson, WCAS'25 (ImmPro).
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FARLEY-Q ENTREPRENEURIAL SCIENTIST BOOTCAMP | |
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The Farley Center and The Q co-hosted a 2-day summer bootcamp designed to expose PhD students to entrepreneurship and opportunities at the University. In its inaugural session, it attracted 30 participants, drawing from many McCormick departments. It featured scientist-entrepreneur speakers and panelists who shared their experiences transitioning from academic research to successful startups. Students participated in hands-on workshops covering key aspects of launching a business, effective networking, and navigating the entrepreneurial ecosystem at Northwestern.
The combination of workshops, seminars, and networking sessions left the students with a number of invaluable "golden nuggets." Thanks to all of the PhD students and post-docs who participated in this successful pilot!
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The InQbation Lab hosted its very first Pitch Feedback Session, showcasing early-stage startup founders to pitch, receive feedback from 14 investors, and network afterwards.
Congratulations to the 8 pitchers: 3 Q Entrepreneurial Fellows and 5 CEOs who are in the middle of fundraising (see below). We are grateful for the generous support of our growing investor community in Chicago and on both coasts!
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2024-2025 Q ENTREPRENEURSHIP FELLOWSHIP
The Q is accepting applications for the second cohort of Q Entrepreneurial Fellows (EF). EFs partner with Northwestern faculty to advance innovations towards commercialization. During the one year program, Fellows undertake technical development and define commercialization plans. EFs are supported with a one year salary (plus benefits), a $10k stipend, and access to resources like mentoring, instruction and coaching. For more information or to apply, visit the Q EF WEBSITE.
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Cour Pharmaceutical (Dr. Steven Miller, Feinberg) was named to Fierce Biotech's 2024 Fierce 15 honoring the best in biotech. Cour Pharmaceuticals is working on treatment for celiac disease, primary biliary cholangitis, and myasthenia gravis. READ MORE | | |
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Mesh Suture (Dr. Gregory Dumanian, Feinberg) was featured on the cover of MedTech Outlook as one of the Top Surgical Companies in 2024. Their flagship product, Duramesh, revolutionizes surgical suturing and patient outcomes. READ MORE | | |
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Dimension Inx (Prof. Ramille Shah, McCormick) was named a finalist at Fast Company 2024 Innovation by Design awards for their pioneering work developing CMFlex, a flexible ceramic graft designed for bone reconstruction. READ MORE | | |
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Epicore Biosystems (Prof. John Rogers, McCormick and Prof. Roozbeh Ghaffari, McCormick) signed a 3-year agreement with Chevron to equip their industrial frontline workers with its Connected Hydration solution. The sweat-sensing wearable biosensor provides actionable rehydration strategies in real time to minimize adverse dehydration events. READ MORE | | |
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Forge Nano (Prof. Mayfair Kung, McCormick, Prof. Harold Kung, McCormick and Prof. Peter Stair, Weinberg) announced the launch of TEPHRA, a single-wafer ALD cluster platform. The new technology enables the production of best-in-class coatings at commercial scale with unrivaled efficiency and speed. READ MORE | | |
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Innoblative Designs (Prof. David Mahvi, Feinberg) announced a successful first-in-human use of its novel electrosurgical device for breast cancer treatment, designed specifically for patients undergoing breast-conserving surgery. Their device uses radiofrequency ablation to reduce reoperations and prevent local cancer recurrence. READ MORE | | |
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Sibel Health (Prof. John Rogers, McCormick, and Dr. Steve Xu, Feinberg) announced two new FDA-clearances to enable its advanced wearable sensors to operate with compatible third-party software applications. This clearance gives Sibel the ability to collaborate and integrate with new digital health software applications. READ MORE | | |
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Chang Robotics (Prof. SonBinh Nguyen, McCormick) announced their new packaging technology, GOEco, based on graphene oxide technology. GOEco is designed to reduce microplastics and PFAS in food products. Their technology aims to replace traditional single-use plastics while enhancing food preservation and was featured on Packaging Gateway. READ MORE | | |
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Vanqua Bio (Dr. Dimitri Krainc, Feinberg) raised $45 million in new funding, which will support the clinical trial of VQ-101, Vanqua's experimental oral medication for the treatment of Parkinson's disease. READ MORE | | |
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MFNS (Dr. Vinayak Dravid, McCormick) received an NSF SBIR Phase II award of $1M. This award will enable them to further enhance their research, accelerate product development and expand their market presence. | |
ACTIVE STARTUP FUNDRAISING | | | |
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Actinia (Prof. Mercouri Kanatzidis, Weinberg) is raising $4M in Series A funding to use these funds to (i) add new AI-powered data processing and noise filters, (ii) build manufacturing capacity to produce >50kg per year, and (iii) sign 4-6 partnership deals to bring in >$20M in annual revenue. | | |
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Amphix Bio (Prof. Samuel Stupp, McCormick) is raising $10M in Seed funding, to launch first-in-human clinical trials in 2025. Their supramolecular therapeutics platform triggers targeted regenerative signaling pathways and provides an extracellular scaffold to support tissue growth. Their first two programs are regenerative therapies for spinal fusion surgery and acute spinal cord injury. | | |
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Affix Medical (Dr. Riad Salem, Feinberg) is raising $500k in Pre-Seed funding to continue their mission to improve percutaneous drain management for all patients with indwelling lines/tubes/catheters. Their flagship product is a drain fixation device that mitigates the need for suture fixation, expedites dressing changes, and decreases rates of tube-related complications. This device is tailored specifically to long-standing percutaneous drains placed by Interventional Radiologists and was developed in collaboration with interventional radiologists at Northwestern Memorial Hospital. | | |
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Inomagen Therapeutics (Dr. Rishi Arora, Feinberg) is raising a $5M Seed round to continue its development of a non-viral gene therapy to improve the treatment of atrial fibrillation. In conjunction with the company’s ongoing SBIR Fast Track grant award, the funds will be used to develop its novel transcatheter cardiac gene delivery system, optimize its proprietary plasmid vector, conduct therapeutic dose response studies, and continue building the team with a goal of filing an IND and initiating clinical study in 2026. | | |
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Opera Bioscience (Prof. Danielle Tullman-Ercek, McCormick) is raising $1M in Pre-Seed funding to scale up its bacterial protein secretion tool. The company's bacterial platform allows for manufactured proteins in a highly efficient fermentation process allowing for the development of high-purity therapeutics and research reagents. Opera will use the funds to advance existing biosimilar and therapeutics partnerships and bring a reagent protein kit to market. | | |
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Syenex (Prof. Josh Leonard, McCormick) is raising $10M to (i) integrate their delivery designs with 3 CDMOs, (ii) support the approval of 5 partner INDs, and (iii) secure a first-in-human readout for their lead T cell delivery composition. Since incorporating in May 2022, the company has raised $5M, launched two T cell delivery products, and secured over 20 partners with a first-in-human trial expected to initiate before year end. | | |
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Temprian Oncology (Prof. Caroline LePoole, Feinberg, Prof. SonBinh Nguyen, Weinberg) is raising $300k in Seed funding to demonstrate proof-of-concept in the treatment of melanoma in vivo. Temprian Oncology is developing lipid-based nanoparticle supercarriers to deliver active ingredients to metastatic melanoma tumors. This novel approach combines chemo- and immunotherapy into an off-the-shelf product suitable for delivery in remote geographic locations. | | |
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Volexion (Dr. Mark Hersam, McCormick) is raising $8M in Series A funding to scale-up and pilot its proprietary graphene encapsulation technology in an effort to enable the next level of performance and cost for Lithium-ion batteries, expand into new applications, and accelerate commercial engagement and strategic partnerships. | |
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INVESTORS: Contact the InQbation Lab for more information regarding these investment opportunities.
NU STARTUPS: To share your fundraising/milestone news, email inqbationlab@northwestern.edu.
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FDA/NIH Webinar | Regulatory Do's and Don'ts: Tips from FDA
This webinar aims to provide academic life-science accelerators and early-stage oncology-related companies an overview of resources and programs developed by the FDA designed to help develop new therapeutics, devices, and diagnostics.
REGISTER HERE
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FARLEY-Q | TECH VENTURES FELLOWSHIP @ ENGINE VENTURES
Learn about DeepTech investing, venture capital structures/strategy, the significance of PhDs as founders and in their organizations, and ways to engage in the venture capital world. REGISTER HERE
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OUP Webinar |Finding your startup CEO Part 2- Sourcing
Following up on the first session of this two-part webinar series, OUP Managing Partner Matt Cohen will moderate a panel discussion on sourcing C-level candidates for your academic startup company. REGISTER HERE
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FoundHER Stories | A Fireside Chat with Mariana Matus
Learn about Mariana Matus’ experience spinning out Biobot analytics in 2017 from her doctoral research at MIT. Dr. Matus will share how the company analyzes sewage to provide early warnings of health threats across the globe. REGISTER HERE
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OTHER NEWS & OPPORTUNITIES | | |
NUCLEATE CHICAGO HOSTS 2024 ACTIVATOR LAUNCH EVENT ON SEPT 5, 2024 | |
The 2024-2025 Nucleate Activator Launch event is scheduled for September 5, 2024 at Cresa in West Loop. This flagship program runs from January through May and teaches academic trainees how to spin out their ideas from labs into successful biotech ventures. The Chicago chapter runs two tracks: Bio and Eco. Nucleate is recruiting MDs, PhDs, Master's students, MBAs, and postdocs who have an idea they would like to commercialize. REGISTER HERE | |
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FALL APPLICATIONS ARE OPEN FOR EQUALIZE STARTUPS | |
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Equalize Startups is a pitch competition and platform for coaching and promoting women academic inventors. Equalizers receive education, a field-specific mentor, and access to networks that drive entrepreneurial connections. Applications are open through November. For more details or to apply to become an Equalizer, please click here.
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FUNDING OPPORTUNITY FOR MEDICAL DEVICES & THERAPEUTICS | | |
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Applications for the Windy City Innovation Award through The Chicago Biomedical Consortium Hub for Innovative Technology and Entrepreneurship in the Sciences (CBC-HITES) are due October 1st for innovations in medical devices, health information technology, or research tools and offers up to $75K in funding.
Applications for the Chi-Town Commercialization Award through The CBC-HITES are accepted on a rolling basis for therapeutics and offers up to $250K in funding.
For more details or to join future information sessions, click here.
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SAVE THE DATE FOR THE 2024 CHICAGO BIOCAPITAL SUMMIT ON NOV 7, 2024 | |
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The Chicago BioCapital Summit is a full day event showcasing Chicago's extraordinary biotech talent, cutting-edge innovation, and lucrative bioventures. The summit is hosted by the Chicago Biomedical Consortium (CBC) and brings together industry, academia, and investors to showcase the latest innovations in the life sciences and biotech space.
For more details or to register for the event, please click here.
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ENTREPRENEURSHIP AT NORTHWESTERN NEWSLETTER
SUBSCRIBE to the Entrepreneurship at Northwestern Newsletter. This newsletter is a monthly roundup of university-wide news featuring the launches, raises, and milestones of our students, faculty, and alumni! This snapshot celebrates the wide-ranging impact of the Northwestern community and enables us to stay in touch with our Wildcat entrepreneurs.
Please share your own milestones through the newsletter.
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