Quebec City, QC; October 3, 2014 – Proteocyte Diagnostics Inc., a company with a unique test for early identification of oral cancers, was the highest ranked life science startup in the Most Promising Canadian Startup of the Year competition, and overall runner up, held by the National Angel Capital Organization (NACO) last night.
Proteocyte Diagnostics is a Canadian molecular diagnostics company that has developed a novel diagnostics test, Straticyte™ that objectively and accurately detects precancerous oral lesions at high risk of becoming cancerous. Straticyte is the first and only molecular diagnostic test for oral precancerous lesions that provides an objective and accurate prediction score as evidenced by retrospective clinical studies.
“We were pleased to be the highest ranked life science startup,” said Dr. Mario Thomas, President of Proteocyte Diagnostics. “It was a great opportunity to tell our story to over 200 investors and be recognized with such a high ranking. This is another validation of Straticyte and the impact it will have by saving lives, increasing quality of life, reducing healthcare costs and providing a strong financial return.”
Dr. Sunny Kumar, Senior Commercialization Manager at Ontario Centres of Excellence (OCE) said, ”Clearly, Proteocyte is a top startup company in the Canadian landscape. This is why OCE sponsored Proteocyte Diagnostics as a candidate for Canada’s most promising start-up. Over the last two years, OCE has supported this top venture with its various programs including a recent investment of $250,000.”
NACO is a non-profit organization that promotes and helps create a vibrant Angel community in Canada. NACO’s annual Pitch Competition celebrates dynamic early-stage companies that have demonstrated successful growth and whose outstanding achievements have made them some of Canada’s most promising startups. Up to 15 semi-finalists were invited to attend the 2014 National Angel Summit and five (5) finalists, including Proteocyte Diagnostics, pitched on stage to over 200 Angel investors, venture capitalists and industry leaders. Most Promising Startup of the Year was selected by an expert panel of judges and audience voting and presented by KPMG Enterprise. The 2014 Pitch Competition was in Quebec City, on Thursday, October 2, during the 2014 National Angel Summit (October 1-3).
Proteocyte Diagnostics Inc. is a Canadian molecular diagnostics company that develops and commercializes a novel diagnostics technology, Straticyte™ that offers objective and accurate early diagnosis of precancers and cancers. The company’s first product objectively and accurately distinguishes between those precancerous oral lesions at high risk of becoming cancerous and those that pose low risk. Early diagnosis of high risk lesions permits more effective and less traumatizing treatments. By identifying and treating oral cancer before it happens, clinicians can save lives, healthcare costs are reduced and quality of life of patients is improved. Identifying more accurately low risk pre-cancerous lesions avoids unnecessary surgeries and allows clinicians to monitor patients regularly for peace of mind.