NanoMark Therapeutics wins Ballard Morton New Venture Competition with kinder, gentler chemotherapy concept

     LOUISVILLE, Ky., (October 18, 2009) --New technology that would dramatically reduce the cost and side effects of chemotherapy was the unanimous first choice of judges Saturday at the University of Louisville Ballard Morton New Venture Competition. 
     NanoMark Therapeutics, a company created by a team of UofL Entrepreneurship MBA students, earned the business plan competition’s top prize of $8,000 for its development of AUra, a revolutionary drug that attacks cancer cells but spares healthy cells. The drug also reduces treatment dosage to a fraction of that required in traditional chemotherapy.
     “The concept is strong and the team is solid,” said venture capitalist Dale Boden, one of the competition’s judges.  “There are firms that would invest in this today.” 
     Created by NanoMark president Dr. Sham Kakar, AUra is expected to be effective on 12 types of cancer, including ovarian cancer. He believes the technology’s use of gold nano-particles to deliver and bind the medication also may have applications for diabetes and AIDS treatment.
     NanoMark earned an additional $500 for winning the Trade Show competition.  In addition to Dr. Kakar, team members include Dr. Gary Degan, Cohin Kakar, David Noack and Viji Sundar.
     Now in its 13th year, the New Venture Competition featured five teams of UofL MBA students vying for more than $17,000 in prize awards.   The competition is designed to prepare students for qualifying events for Global Moot Corp, the annual $100,000 “Super Bowl” of business plan competitions. All participating students are working professionals.

     NVC judges awarded the CALMsenior team the second place prize of $5,000.  The team has developed an interactive console and website offering impaired senior citizens improved health, safety and connectivity with friends and family members.  CALMsenior also received the “Best Presentation” award of $500. Team members are Colin Lippy, Dr. Joe Rotella, Aaron Welenken and Matt Wilson.
     “They told a great story in their presentation,” said judge Ed Nasief, senior vice-president of UBS Financial Services.  “Very human, very real.  Could bring a tear to your eye.”
 
     Third place honors and $3,000 were awarded to the Legal Interactive team for its software that clarifies and streamlines the division of assets process in divorce cases.  Judges liked the project’s “ready to market” completeness.
     “Investors would find out right away if they had a winner,” said Boden, who is president of B.F Capital Inc. “If it’s not, a quick ‘no’ is better than a long ‘maybe’.”
     Legal Interactive team members are Nathan Andaya, Amy Fisher, Joshua Sickles and Cara Silletto.


     Chad Barras of Clarity Imaging Solutions earned $500 for his team by winning the 60-second Fast Pitch competition.  The team, which also includes James Bahe, John Weis and Laura Zanewicz, is developing technology it believes can revolutionize the speed and accuracy of cancer diagnosis by improving the quality of CT scans.  The team also received a runner-up award of $1,500.

     Judges awarded $1,500 and special recognition to the HDP-Solar team for its exceptional effort. The team is comprised of University of Louisville European MBA students Matthias Aeikens and Christian Klippel.  In presenting their concept for manufacturing solar panels for hazardous and unusual applications, the duo traveled to the U.S. the day before the competition and battled jet lag and language barriers in addition to four other teams.
     The event was moderated by UofL Entrepreneur-in-Residence Suzanne Bergmeister.  The competition is funded by former College of Business Executive-in-Residence T. Ballard Morton and members of the college’s Entrepreneurship Council. The College of Business graduate entrepreneurship program is led by Cobb Family Professor of Entrepreneurship Van G.H. Clouse.  

 Click for 2009 program