Biotech, med-tech startups win business plan contest for Minnesota University students and faculty

Two biotechnology startups and a fledgling medical-device maker are this year’s
winners of the University of Minnesota’s annual Gopher the Gold Business Plan
Competition.

Staff report Star Tribune.com

ActiPep Biotechnology — a biopharmaceutical startup focused on the research
and development of peptide-based biopharmaceuticals for the treatment of
cancer, infection, arthritis and other ills — took first place and will receive $20,000
in equity and $10,000 in services to help launch its company.

Minnesota High-Tech Resources, took second place, receiving $15,000 in equity
and services. The venture is commercializing a proprietary hypothermia device for
the treatment of cardiovascular disease and to improve the survival and recovery
of heart attack and stroke patients.

ANDX won third place and $5,000 in equity and services to help the biotech
company commercialize its diagnostic tool, which might help the owners of
domestic and farm animals foresee their animals’ genetic predisposition to
cancer and other diseases.

The competition is designed to encourage the growth of innovative business
ideas and entrepreneurial ventures in Minnesota and is open to University of
Minnesota student and faculty entrepreneurs statewide.

The competition is sponsored by David and Carolyn Cleveland, St. Paul Venture
Capital, Dorsey & Whitney, KPMG, Andcor Companies and the university’s
Carlson School of Management.

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