Boston-based Admetsys was the winner of The Venture Forum’s ninth annual Five-Minute-Pitch contest, held in Worcester Tuesday.
Admetsys was founded seven years ago by father and son Jeff and Tim Valk. Tim Valk serves as the company’s chief scientist. The company is the creator of the “smart pancreas,” a machine that automates glucose and insulin delivery to hospitalized diabetic patients.
Admetsys CEO Jeff Valk gave the winning presentation, earning the $2,500 first prize and the $1,000 audience choice award.
The company is set to begin prototype production within months and clinical trials early next year. Diabetes accounts for more than $1 of every $5 spent on healthcare in the United States, according to a press release from the Venture Forum.
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