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Innovation Space Marks 100th Company Milestone
As 12 New Start-Ups Join Science Inc. Accelerator Program

FOR IMMEDIATE RELEASE: March 9, 2023

Innovation Space Marks 100th Company Milestone As 12 New Start-ups Join Science Inc. Accelerator Program

Spring cohort includes companies specializing in therapies to improve medical outcomes, reduce climate pollution and protect the environment

(Wilmington, DE)- The Innovation Space ™ has accepted 12 companies for the Spring 2023 Science Inc.™ Accelerator Program, a virtual, cohort-based accelerator for early-stage science-based startups.  With the support of expert coaches (Entrepreneurs-in-Residence), Science Inc. ™ participants will work toward major milestones in order to ramp up their businesses quickly and successfully.

Science Inc.™ gives companies access to industry and investment experts who can advise them on decision-making in the critical early stages of their development. Through those connections with experts and their cohort, participants cultivate a network of potential funders and collaborators.  

Eligible startups also have an opportunity to apply for up to an additional $200k in support through the First Fund™ investment program.

“We are proud to announce that the Spring 2023 Science Inc.™ cohort is our largest to date and  marks a milestone of 100 portfolio companies from 15 states and four countries supported in their endeavors to improve the world in which we live,” said Innovation Space ™ founder and CEO Bill Provine. “We are excited to partner with these startups and accelerate their speed to market with the support of our incredible mentors and experts.” 

Companies participating in the Spring 2023 cohort include the following:

A.I. Whoo is a movement analytics company that provides gait assessment software to physical therapists via mobile application to help increase patient throughput and improve patient care.

Baleena closes the loop with a platform to capture and recirculate textile waste and prevent the flow of microplastic fibers into our waterways.

CaperRX is a therapeutics company developing a first in class proprietary peptide therapy for the safe and effective treatment of residual glioblastoma with the goal to maintain patient quality of life and significantly prolong time to recurrence of tumor and overall survival.

Cellergy Pharma is developing novel cellular therapies and bispecific antibodies for treating severe allergic disease.

Chiima Therapeutics is a biotech company developing early-stage molecules that include the delivery of safe, effective, and easy-to-use therapeutic compounds for acute and chronic pain.

FireSafe offers a novel, high-performing fire-retardant polymer that enhances fire-retardant properties of products in market segments such as Textiles, Building Construction and Electronics while also reducing risk to humans and the environment.

Nitro Biosciences retrains the immune system to target antigens for vaccination which are inaccessible via common immunization methods.

Ren Bioscience is developing a unique retinal disease treatment that preserves retinal cells by inhibiting pro-inflammatory molecules.

sHYp uses salt water sources to produce green hydrogen and other valuable products such as magnesium hydroxide at lower energy and lower CO2 footprint.

SingleTime Microneedles has developed a removable microneedle platform that can deliver single, multi-dose, and longitudinal dose vaccines in one patch. It eliminates biohazard waste, pain, the need for booster administration, and cold-chain transportation, all while improving immunity.

Sonogen Medical is working to commercialize a next-generation ultrasonic bone fracture healing device with built-in diagnostic fracture healing capability.

Torev Motors develops next- generation double axial flux electric motors using a patented stator structure that addresses rare earth metal consumption without sacrificing efficiency.

To date and including the current cohort, Science Inc.™ has supported 47 startup participants from 15 states and four countries, including the U.S. 

Ken Mitchell, CEO of Atlas Fermentech, an alumnus of the Fall 2022 cohort offered,  “In Science Inc., we were provided exceptional guidance and support in building our pitch materials and crafting a clear message for investors about the value we are creating. With the coaching from an expert group of entrepreneurs and advisors in Science Inc., we are now prepared to seek financing from the investment community.”

The Science Inc.™ Accelerator program accepts companies twice per year, in the fall and spring. The selective program receives applications from across the United States and beyond, with special consideration given to startups who are located or interested in locating within the Mid-Atlantic region. 

Eligible industries include: Aerospace, Agriculture, Biotechnology, Chemicals and Chemical Products, Diagnostics, Clean Technology , Electronics/Instrumentation, Food and Beverage, Healthcare Services, Industrial/Energy, Marine, Medical Devices and Equipment, Nanotechnology, Oil and Gas, Renewables/Renewable Energy, Semiconductors, Telecommunications, Therapeutics, and Transportation. 

Science Inc.™ is among a suite of Innovation Space programs funded by a $1.5 million U.S. Department of Commerce grant, which is designed to build regional economies by supporting the growth of technology-oriented startups.

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About The Innovation Space:

The Innovation Space™ is a not-for-profit innovation ecosystem and is a virtual and physical home for leading science entrepreneurs.  The Innovation Space™ works to “transform science and technology startups into industry leading companies.” Located on the historic Experimental Station campus in Wilmington, Delaware, The Innovation Space™ is comprised of 130,000 ft2 of state of the art lab and office space with access to cutting edge equipment alongside a suite of entrepreneurship programs and opportunities supporting startup growth. Register for more information and updates to learn more about all The Innovation Space™ programs and funding opportunities.

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The Innovation Space™ Partners with The Fourth Floor to Address Gaps in Funding, Gender Wealth for Women in Sciences, STEMM

FOR IMMEDIATE RELEASE: March 2, 2023

The Innovation Space™ Partners with The Fourth Floor to Address Gaps in Funding, Gender Wealth for Women in Sciences, STEMM

WILMINGTON, Del. — The Innovation Space ™ today announced that it has joined The Fourth Floor as a “Greater Impact Partner” to help address gender wealth and funding gaps by advancing for-profit board careers for women and supporting women founders in STEMM (Science, Technology, Engineering, Math and Medicine).

Women make up only 28% of the U.S. field in STEM, and gender and wage gaps are most prevalent in the fastest-growing, highest-paid industries such as engineering, according to AAUW, an organization working to advance gender equity for women and girls. 

Bill Provine, Founder and CEO of The Innovation Space ™ said: “Our goal has always been to connect our clients to the resources they need to succeed, and partnering with The Fourth Floor is just one more way we hope to accomplish that while making strides for equity for women in STEM careers and the sciences.”

Through the “Greater Impact Partnership,” startups in The Innovation Space ™ ecosystem receive an annual membership on The Fourth Floor’s AI-powered matching and community platform, which provides access to The Fourth Floor’s network of well-qualified and diverse board candidates, investors, mentors, and job candidates.

The Partnership also includes:

  • The opportunity to nominate board-ready women leaders from the greater Innovation Space network for 1-year free Board Candidate Memberships on The Fourth Floor to advance their board careers;
  • The launch of a dedicated and co-branded “STEMM Startups” space on The Fourth Floor platform for STEMM founders, board-ready women, and investors to convene and share STEMM-specific resources; and
  • Joint virtual programming events that address the development, funding, and/or commercialization needs of STEMM startups.

“We are thrilled to partner with The Innovation Space and offer access to our platform to their startups,” said Breen Sullivan, Founder, The Fourth Floor. “Our aim is to empower women and amplify their voices as leaders in their field. In the male-dominated STEMM industry, this amplification is indispensable.”

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About The Innovation Space (www.innovationspace.org):

The Innovation Space™ is a not-for-profit innovation ecosystem and is a virtual and physical home for leading science entrepreneurs.  The Innovation Space™ works to “transform science and technology startups into industry leading companies.” Located on the historic Experimental Station campus in Wilmington, Delaware, The Innovation Space™ is comprised of 130,000 ft2 of state of the art lab and office space with access to cutting edge equipment alongside a suite of entrepreneurship programs and opportunities supporting startup growth. Register for more information and updates to learn more about all The Innovation Space™ programs and funding opportunities.

About The Fourth Floor (www.thefourthfloor.com):

The Fourth Floor works to close the gender power, wealth and funding gap by advancing for-profit board careers for women, supporting women-led startups and funds, and providing women opportunities to invest in other women. Specifically, The Fourth Floor matches forward thinking startups and companies to board-ready women in a trusted, efficient and cost-effective way to disrupt the traditional board search process and overcome systemic barriers that have kept women out of the board candidate pipeline.  
The Fourth Floor also matches under-represented founders and fund managers with women angels and LPs because women invest differently than men, and that difference will unlock a missed opportunity worth trillions of dollars. Attend a platform tour to learn more about the 800 ecosystem companies, 1,500+ board-ready women and 100+ women-led funds and investors currently benefitting from The Fourth Floor Board Seat Exchange, Private Investment Club, Job Board and Membership Community, and whether membership might be right for you.

Contact:

Meredith Montalto  
610-322-1703  
meredith@ceislermedia.com 

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The Innovation Space™ Expands Its Team and Adds Experienced Leaders from New York City and Philadelphia Startup Ecosystems

FOR IMMEDIATE RELEASE: February 27, 2023

The Innovation Space™ Expands Its Team and Adds Experienced Leaders from New York City and Philadelphia Startup Ecosystems

Wilmington, Del. —  The Innovation Space™ is continuing to expand its talent-based resources  as it fuels the growth of science-based startups and entrepreneurs. Drawing from the Mid-Atlantic science entrepreneurship ecosystem, Innovation Space is adding individuals with decades of experience in business development, start-up acceleration and partnerships to its existing roster of renowned mentors and leaders. 

Anne Stamer has over 20 years of experience with startup accelerators, leadership, and business coaching. She most recently spent time as the director of a student-facing accelerator at the University of Pennsylvania. Stamer will lead the Spark Factory™, the month-long mentoring program where founders develop and improve their business pitch while receiving feedback from our Startup Mentors, Entrepreneurs-in-Residence, and other experts.

Dario Vasquez will develop partnership and ecosystem connections across the MidAtlantic and support The Innovation Space™ relationships with universities and students. Vasquez brings strong experience with managing entrepreneurship programs at Columbia University including the NSF I-Corps program, startup bootcamps, and pitch competitions. 

Stamer and Vasquez join a growing Innovation Space team that has attracted high-value talent including RoseAnn Rosenthal, who came to The Innovation Space™ in 2022 after a 25-year tenure at Ben Franklin Technology Partners of Southeast Philadelphia where she served as its President, CEO, and Board member. Rosenthal brings her expertise to lead The First Fund™, a source of funding for early-stage science startup companies in need of capital, lab space, and wrap-around support and mentorship.

“RoseAnn, Anne, and Dario bring years of experience and a level of combined talent that will propel The Innovation Space™ mission forward,” said Bill Provine, Founder and CEO. “We are continuing to grow as an organization on all fronts, from staffing, to clients, to facility upgrades – all in effort to expand our expertise and presence in the regional innovation ecosystem and help startups advance to market readiness.”

In just six years since its inception in 2017, The Innovation Space™ has supported and enabled more than 100 startups in their growth journeys, which in turn has raised over $800 million in private capital.

Across the Mid-Atlantic and throughout the country, The Innovation Space™ has invested in dynamic startups in the fields of health care, advanced materials, diagnostics, therapeutics, nutrition, chemical ingredients, industrial and agricultural biotechnology and renewable energy. Clients are working to advance science and improve lives from cancer treatments to climate change solutions and nearly everything in between.  

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About The Innovation Space (www.innovationspace.org):

The Innovation Space ™ is a not-for-profit innovation ecosystem and is a virtual and physical home for leading science entrepreneurs.  The Innovation Space™ works to “transform science and technology startups into industry leading companies.” Located on the historic Experimental Station campus in Wilmington, Delaware, The Innovation Space™ is comprised of 130,000 ft2 of state of the art lab and office space with access to cutting edge equipment alongside a suite of entrepreneurship programs and opportunities supporting startup growth. Register for more information and updates to learn more about all The Innovation Space™ programs and funding opportunities. 

Contact:

Meredith Montalto  
610-322-1703  
meredith@ceislermedia.com 

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Inventia Life Science cements its US presence by opening its first US office and facility at The Innovation Space™ in Wilmington, Delaware

FOR IMMEDIATE RELEASE: October 18, 2022

Inventia Life Science cements its US presence by opening its first US office and facility at The Innovation Space™ in Wilmington, Delaware

(Wilmington, DE) – Inventia Life Science, an Australian based biotechnology company, is pleased to announce the launch of its first US office and facility at The Innovation Space™, located at the Experimental Station in Wilmington, Delaware. The Innovation Space™ will service Inventia with premium, supported lab and office space with unparalleled access to business building services and growth partners.

Inventia specializes in building systems capable of creating realistic 3D human tissues for drug and therapy research applications. The 3D cell culture platform, RASTRUM™ has many diverse biomedical applications. For example, it can be of enormous benefit to the pharmaceutical industry, by allowing new drugs to be tested in a 3D cellular environment and eliminated if necessary, long before they reach the stage of clinical trials.

One of the biggest challenges in drug discovery is that over 90% of drugs that look good in the lab fail in humans. By reducing the risk of drugs failing once they enter human clinical trials, pharmaceutical companies can save hundreds of millions of dollars to the total cost of bringing a successful drug to market. Similarly, researchers can now work at scale with cell models that mimic the human body almost exactly and produce research results that are more accurate and predictive than before.

Headquartered in Sydney, Australia, the new space will enable Inventia to closely support its customers based in North America as well as attract a highly skilled workforce. Inventia hired its first US employee, Dr. Dwayne Dexter as Director of Sales and Operations in the US, last year ahead of its USD $25million Series B fundraise. The funds have subsequently facilitated the launch of RASTRUM™ to the U.S. market.

Dr. Dwayne Dexter, Director of US Sales and Operations commented, “Inventia’s unique 3D cell culture technology is the most advanced and precise 3D bioprinting of its kind in the world. Subsequently, we have seen a strong international demand from leading research institutes and top 10 global pharmaceutical companies for RASTRUM™ – four of which use RASTRUM™ for their drug discovery programs.”

“We were initially attracted to The Innovation Space™ because Delaware has a strong reputation for attracting engineers, chemists and other talented workers due to the DuPont Company and nearby world-leading universities. Furthermore, the State of Delaware and the Mid-Atlantic region has a rich life sciences ecosystem including many of the world’s largest life science companies.”

“The Innovation Space™ welcomes Inventia as a new growth client and we are already working collectively with the Inventia team to rapidly accelerate their global growth,” said William Provine, Ph.D, CEO of The Innovation Space™.  “The Innovation Space™ is fully equipped with the facilities, expertise and networks to bolster the international capabilities of Inventia in order to enable them to build the value of their company and exceed customer expectations.”

About Inventia Life Science

At Inventia, we’re creating some of the most powerful tools for advanced biomedical discovery today. We build printers and formulate bioinks that together allow human cells to be printed in three-dimensional structures and help forward-thinking pioneers in the fields of cancer research, drug discovery and medicine to create human tissue for research and therapy purposes. Our RASTRUM™ platform creates 3D cell cultures which imitate real human tissue in terms of its structure and behaviour across a range of disease states. The physiological complexity of these cell cultures provides an environment in which world-class research and discovery can occur, right in the researcher’s own lab. Inventia Life Science Pty Ltd was the vision of Dr. Julio Ribeiro and founded by him with Dr. Aidan O’Mahony, Dr. Cameron Ferris and Peter Arthur in 2013 and is headquartered in Sydney, Australia.

About The Innovation Space (www.innovationspace.org):

The Innovation Space ™ is a not-for-profit innovation ecosystem and is a virtual and physical home for leading science entrepreneurs.  The Innovation Space™ works to “transform science and technology startups into industry leading companies.” Located on the historic Experimental Station campus in Wilmington, Delaware, The Innovation Space™ is comprised of 130,000 ft2 of state of the art lab and office space with access to cutting edge equipment alongside a suite of entrepreneurship programs and opportunities supporting startup growth. Register for more information and updates to learn more about all The Innovation Space™ programs and funding opportunities. 

Inventia Media contact

Elle Kress
media@inventia.life
+61 490 472 947

Innovation Space media contact

Meredith Montalto
meredith@ceislermedia.com
610-322-1703

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Innovation Space Welcomes New Start-Ups to Science & Tech Accelerator Program

FOR IMMEDIATE RELEASE: September 19, 2022

Innovation Space Welcomes New Start-Ups to Science & Tech Accelerator Program

Science Inc.™ fall cohort includes companies specializing in cell & gene therapy, medical technology and clean energy 

(Wilmington, DE) – The Innovation Space ™ has accepted 10 companies for the Fall 2022 Science Inc.™ Accelerator Program, a virtual, cohort-based accelerator for early-stage startups in the sciences.  With the support of expert coaches (Entrepreneurs-in-Residence), Science Inc. ™ participants will work toward major milestones in order to ramp up their businesses quickly and successfully.

The four-month program includes weekly business curriculum and meetings, as well as coaching and training. Eligible startups also have an opportunity to apply for up to an additional $200k in support through the First Fund™ investment program.

Science Inc.™ gives companies access to industry and investment experts who can advise them on decision-making in the critical early stages of their development. Through those connections with experts and their cohort, participants cultivate a network of potential funders and collaborators.  

“We are thrilled to welcome our current cohort of Science Inc.™ participants, eager to support their developing business, and excited to see what they manifest as a result of this accelerant,” said Innovation Space ™ founder and CEO Bill Provine. “For companies in the startup phase, the expertise and experience of our network of advisors can make a tremendous difference in how quickly they are ready to launch and how successful they are at bringing their ideas and inventions to market.”

Companies participating in the fall 2022 cohort include the following:

  • Ally Power Inc. is a hydrogen and electric gas station company with zero-emission and carbon-negative solutions for both infrastructure and vehicles.
  • ARDAN Pharma is developing a first-in-class immunotherapy that aims to address the problem of therapeutic resistance in cancer patients by using a small molecule that enhances anti-tumoral responses while targeting the malignant cell.
  • Atlas FermenTech is a specialty ingredients company developing sustainable technologies to produce products by fermentation. 
  • Flow Medical is setting the new standard of care for interventional pulmonary embolism treatment and improving patient safety by enabling personalized, precision medicine with its data-driven catheter. 
  • NKILT Therapeutics is a new cell therapy biotech developing a novel approach of engineering Natural Killer (NK) cells with their unique Chimeric ILT-Receptor (CIR) binding technology to directly target leukemias and solid tumors.
  • Neuronity is developing first-in-class gene therapy to cure Parkinson’s disease and protect against age-related neurological disorders by restoring healthy immune responses.
  • Novaurum Bioscience has developed AuPEC (Augmented Protection and Enhancement Coatings), a novel coating technology of a nanocomposite of cells and noble metal nanoparticles. This technology seeks to address the growing problem of hospital-acquired infections, specifically around implantable devices.
  • OncoXome is an oncology therapeutic startup focused on inducing cancer cell death and preventing cancer resistance in advanced lung, colorectal and pancreatic cancer cases — the biggest challenge  facing  oncology today.
  • Quantum Copper is innovating solutions to prevent the incidence of fire in lithium batteries by limiting thermal runaway inside the cell using patented fire-retardant polymer solutions. 
  • Score Pharma leverages the power of small molecule pharmacology to develop improved potency versions of existing therapeutic monoclonal antibodies through its operationally simple CoreX™ technology platform. 

To date and including the current cohort, Science Inc.™ has enrolled 37 startup participants from 12 states and four countries, including the U.S. 

“Participation in Science Inc.™ has opened doors for my company and taken us from an idea to a working prototype,” said program alumnus Dr. Jalaal Hayes, Founder, Elyte Energy. “The authenticity of the business lessons and hands-on mentorship have helped me acquire at least 20% of our seed funding goal so far.”

The Science Inc.™ Accelerator program accepts companies twice per year, in the fall and spring. The selective program receives applications from across the United States and beyond, with special consideration given to startups who are located or interested in locating within the Mid-Atlantic region. 

Eligible industries include: Aerospace, Agriculture, Biotechnology, Chemicals and Chemical Products, Diagnostics, Clean Technology , Electronics/Instrumentation, Food and Beverage, Healthcare Services, Industrial/Energy, Marine, Medical Devices and Equipment, Nanotechnology, Oil and Gas, Renewables/Renewable Energy, Semiconductors, Telecommunications, Therapeutics, and Transportation. 

Science Inc.™ is among a suite of Innovation Space programs funded by a $1.5 million U.S. Department of Commerce grant,which is designed to build regional economies by supporting the growth of technology-oriented startups.

About The Innovation Space:

The Innovation Space ™ is a nonprofit incubator for hard science ventures, launched through a partnership between the State of Delaware, DuPont, and the University of Delaware. The organization works to “transform science and technology start-ups into industry leading companies.” Located on the historic DuPont Experimental Station Campus, the 130,000 square foot innovation ecosystem offers state of the art lab and office space with access to cutting edge equipment alongside a suite of entrepreneurship programs and opportunities supporting startup growth. Register for more information and updates about all Innovation Space™ programs and funding opportunities. 

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Contact: Meredith Montalto  

610-322-1703  

meredith@ceislermedia.com 

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The Innovation Space™ Expands Lab and Office Space Available to Startups

The Innovation Space™, an ecosystem with funding, resources, and programs tailored to accelerate and scale science-based startups, announced today that 50,000 ft2 of Class A laboratory and office space will be available in April 2022. This space, located in The Innovation Space’s Wilmington, Delaware headquarter building is comprised of 33 laboratories, 76 offices, and a network of shared conference rooms, collaboration spaces and amenities. Residential clients also gain access to the Experimental Station, a secure, 24/7 supported, innovation campus with a cafeteria, fitness center, exercise classes, and critical infrastructure support resources.

“Whether you are just starting out your journey as a science entrepreneur or are have recently raised a multi-million-dollar round of investment, you will find supportive programs and capabilities across The Innovation Space that will enable you to move your startup forward more aggressively”Tweet this

The lab and office footprint aims to enable biotechnology, chemistry, and material science startups as they grow and attain key milestones for expanded facilities. The space available in April 2022 is currently occupied by a large biotechnology client and supports both the advancement of their research and development of their business. Upon this client’s graduation from The Innovation Space in early 2022, the space will be made available to the next generation of startups and scaling companies.

“We are very pleased to be able to intensify our commitment to the growth of science-based startup companies and drive economic growth,” said Bill Provine, CEO of The Innovation Space. “This space would be a perfect fit for biotech or chemistry-based companies and can support multiple smaller growth companies or be a great home for a rapidly scaling larger company.”

“The Innovation Space has been a critical partner for Prelude Therapeutics in support of our rapid growth,” said Kris Vaddi, CEO of Prelude Therapeutics. “We continue to gain value from their entrepreneur-first business focus and flexible engagement strategies which have provided us with the framework to expand our company with them from 5 employees in 2017 to over 100 employees today,” said Vaddi.

“Whether you are just starting out your journey as a science entrepreneur or are have recently raised a multi-million-dollar round of investment, you will find supportive programs and capabilities across The Innovation Space that will enable you to move your startup forward more aggressively,” said Provine. “We are an entrepreneur-first organization and have both physical assets such as leveraged scientific equipment and world-class laboratory capabilities in addition to our supportive suite of business building programs. These programs include our First Fund™ where we provide investment, our Science INC™ cohort-based accelerator where we work intensely over a four month program with early startups on their business models and connect them with partners and investors, and our Spark Factory™ mentoring program where we provide access to and advice from seasoned functional experts and business leaders.”

About The Innovation Space™:

The Innovation Space is a multi-dimensional, non-profit entrepreneurial support organization and an ecosystem where entrepreneurs, scientists, business leaders, community members, investors, and service providers in the advanced materials, industrial and agriculture biotechnology, chemical ingredients, renewable energy, nutrition, therapeutics, diagnostics, and healthcare fields can build business concepts together and accelerate the path to commercialization of each startup. The Innovation Space was formed from a public-private partnership between the State of Delaware, DuPont, and the University of Delaware. The Innovation Space™ is also known as Delaware Innovation Space™ and the Home for Science Entrepreneurs™.

Learn more: innovationspace.org; https://bit.ly/TheInnovationSpace; and www.firstfund.org.