Top prize of $350K awarded to the maker of diagnostic platform for rapid detection antimicrobial resistance
San Jose, Sept. 26, 2017 – MedTech Innovator announced today Day Zero Diagnostics as the winner of its 2017 global competition. The Boston-based company was selected in a real-time vote by an audience of nearly 1,500 at The MedTech Conference powered by AdvaMed.
This year’s winner, Day Zero Diagnostics is combining genome sequencing and machine learning to combat antimicrobial resistant infections, enabling physicians to switch from broad-spectrum antibiotic therapy to a targeted antibiotic in hours rather than days. CEO Jong Lee participated in MedTech Innovator’s expansive, customized accelerator program, which included in-depth mentorship from senior leaders in the medtech industry, exclusive networking opportunities, virtual and in-person workshops, and pitching with investors, manufacturers, providers, and customers.
“It was a record-breaking year for MedTech Innovator, with no shortage of amazing talent and transformative technologies, and we’re thrilled to see Day Zero Diagnostics selected as the 2017 winner,” MedTech Innovator CEO Paul Grand said. “Ultimately, though, it’s the patients who win when companies like these four finalists have the tools they need to succeed.”
Beating out nearly 600 other startup and emerging-growth medical technology companies, Day Zero Diagnostics is the recipient of the $350,000 grand prize, which will be used to further its business goals and objectives. The runners up were Allotrope Medical, Abreos Biosciences, and Selio Medical, and they received $50,000, $25,000 and $25,000, respectively.
“As a founding sponsor of MedTech Innovator, we’ve seen remarkable companies come through the program, and we expect Day Zero Diagnostics’ technology to provide value to patients, providers and the healthcare system as a whole,” said Renee Ryan, Vice President, Venture Investments, Johnson & Johnson.
Now in its fifth year, the MedTech Innovator competition awarded more than $500,000 in cash prizes, scholarships, and in-kind awards. It comprises several rounds during which companies gain increasing amounts of exposure to industry leaders through online application reviews, in-person pitch sessions, and audience competitions at three leading industry conferences.
“It was a tremendous benefit to be part of the MedTech Innovator Accelerator, but to win the whole competition is invaluable,” said Jong Lee, CEO and Co-Founder, Day Zero Diagnostics. “We’re proud to be considered a startup that is doing transformational work in healthcare, and the resources and funding awarded through MedTech Innovator will help support us as we make our goals a reality.”
The judges on stage for the competition finals were Albert Lauritano, Director, External Innovation & Partnerships, BD Technologies & Innovation; Amy Belt Raimundo, Managing Director, KP Ventures; Anne E. Sissel, Vice President and Head / Baxter Ventures, Baxter International Inc.; and Renee Ryan, Johnson & Johnson.
“We congratulate all the finalists in their success in the MedTech Innovator program and are excited for the potential impact they can contribute to improving healthcare around the world,” Baxter Vice President Anne E. Sissel.
MedTech Innovator is supported by establishing sponsors Johnson & Johnson and RCT Ventures’ Cottrell Foundation and annual program partners Baxter, BD, Amgen, BTG, Olympus, and Ximedica. Additionally, MedTech Innovator is proud to hold its three semi-final and finals competitions in conjunction with leading industry events run by the Advanced Medical Technology Association (AdvaMed), Wilson Sonsini Goodrich & Rosati, and Innovation in Medtech.
About MedTech Innovator
MedTech Innovator is the industry’s nonprofit global competition and accelerator for medical device, digital health and diagnostic companies. Our mission is to improve the lives of patients by accelerating the growth of companies that are transforming the healthcare system. MedTech Innovator 2017 features 100 companies that address one or more of the transformative themes identified in an annual survey of leading manufacturers and providers.