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Immunovent Wins "Best of the Best" in Year-End 1st Pitch Life Science Competition

NEW YORK, Jan. 6, 2015 (GLOBE NEWSWIRE) -- Mid-Atlantic Bio Angels (MABA) announces today that Immunovent (www.immunovent.com), a New York-based company that has developed a sophisticated and convenient test for allergies -- including peanut allergies -- was chosen as the "Best of the Best" among previous winners of MABA's 1st Pitch Life Science events in 2014. The "Best of the Best" competition was held on December 10, 2014 in New York.

Immunovent is developing a platform technology called the Local Antibody Mucosal Brush Diagnostic (LAMB-Dx). It is a needle-free allergy test that works with minute cell samples that are easily and painlessly collected with a soft brush. A proprietary process is then used to detect the specific proteins in the samples that indicate the presence of a food or airborne allergy.

As a consequence of sampling directly from the mouth and nose, LAMB-Dx is expected to diagnose those allergy patients whose blood or skin-based tests are not accurate or inconsistent with their clinical symptoms. This is important because allergies, which affect over a quarter of the population, can be halted or reversed with emerging new therapies, but only if the allergies of the patient are accurately diagnosed. The use of LAMB-Dx to detect airborne and food allergies has been described in several publications. Immunovent plans to initially use the platform to develop a convenient test for peanut allergies, a persistent and potentially dangerous food allergy that affects over 3 million Americans.

"Allergies continue to be a debilitating problem in the United States, where more than 80 million people suffer from allergies. Yet the sophistication of identifying these allergies in those who need it has not advanced for many years," said founder and CEO of Immunovent, Erick Berglund, Ph.D.

Immunovent's Chief Science Officer and co-founder, Kate Rochlin, PhD, added, "It was an honor to be among these other six companies, and we are grateful to have been recognized by MABA as the 'Best of the Best' for 2014 among the some 26 companies that have competed since the inception of the program. We anticipate that the recognition that comes with this title may help us to continue to develop our LAMB-Dx assay and get it into physicians' hands."

"Seven prior "Best in Show" winners competed head to head for the title of 'Best of the Best,' and the competition was tough," said Yaniv Sneor, president of Blue Cactus Consulting, and co-founder of Mid-Atlantic Bio Angels, which organizes and sponsors the 1st Pitch Life Science events. "All of the presenters have upped their game significantly since they first presented, which is a testament to the value of the enterprise. Immunovent was the first of the companies to present. They set the bar high, and no one could match them throughout the night, earning them the title of 'Best of the Best.'"

About Immunovent

Immunovent is a NYC-based bioventure that is focusing on the commercialization of novel technologies for diagnosing allergies. The company is currently developing the Local Antibody Mucosal Brush Diagnostic (LAMB-Dx), a platform technology that allows for accurate detection and diagnosis of diseases including airborne and food allergies. The LAMB-Dx is a local allergy diagnostic that can conveniently and accurately diagnose allergies using a small sample of cells that is painlessly collected with a soft brush from the inside of the nose or mouth. These diagnostic tests can be used to guide targeted patient treatments, such as immunotherapy. Importantly, LAMB-Dx is designed to correctly diagnose the many patients who have test results from blood or skin testing, which are inaccurate or not consistent with their allergy symptoms.

About 1st Pitch Life Science

At a 1stPitch event (http://www.1stpitchlifescience.com), early stage life sciences and healthcare companies make a 15-minute presentation to a panel of experienced life science investors and consultants, followed by a 15-minute audience Q&A. However, where actual investors would then ask the presenting company to leave the room during their subsequent discussion, presenting companies at 1st Pitch are invited to hear the panel constructively critique the company's presentation, business model and perceived viability in the market.

About MABA

Mid Atlantic Bio Angels (http://bioangels.net) is a group of active angel investors, which meets in New York City monthly (except July and August) solely to hear from pre-screened early-stage life science companies. MABA members consist of individuals from Delaware to Massachusetts with significant expertise and experience in the biotechnology, pharmaceutical and healthcare industries, including former and current corporate executives, doctors and Ph.D. scientists with product development backgrounds, successful medical entrepreneurs and analyst/investors focused on life sciences. MABA's goal is to create an environment where the depth of investors' knowledge coupled with the pre-screening of presenting companies enhances the potential for meaningful investment.

CONTACT: Jules Abraham JQA Partners, LLC 917-885-7378 jabraham@jqapartners.comSource: Mid Atlantic Bio Angels