05 Jun Extended-release drug delivery platform winner of the 2020 Business Plan Contest
A Madison-based “drug delivery” technology platform for extended-release medications used in the treatment of opioid addiction took home the grand prize in the 17th annual Wisconsin Governor’s Business Plan Contest.
Jacqueline Hind, Lisa Krugner Higby, Timothy Heath and others created Plumb Pharmaceuticals, which is a platform technology for extended-release medications. The first application of the platform focuses on treatment of opioid addiction.
Like 11 other “Diligent Dozen” finalists, Hind recorded her presentation for judges and others in advance of the annual Entrepreneurs’ Conference, which was held on a virtual platform this year due to COVID-19 restrictions.
“Conventional therapies help suppress cravings by blocking opioid receptors. However, relapse can occur between doses. What Plumb Pharma has done is create a way to help reduce relapses,” said Tom Still, president of the Wisconsin Technology Council. “Plumb Pharma’s technology can reduce costs for patients and providers alike, with potential to move beyond opioid abuse.”
Independent judges recruited by the Tech Council heard pitches from 11 other finalists in four categories: Advanced Manufacturing, Business Services, Information Technology and Life Sciences. Plumb Pharmaceuticals won the Life Sciences category. Other category winners were:
Advanced Manufacturing: Advanced Ionics, Milwaukee, which is developing hydrogen production systems for industrial consumers that will offer zero-emission, on-site, on-demand hydrogen at a lower cost. Presenter: Chad Mason.
Business Services: Last Lock, Milwaukee, which has designed a self-powering “smart lock” that allows for easy installation into existing door hardware while augmenting any mechanical entry system. Presenter: Jack Ryan.
Information Technology: My GenomeRX, Wisconsin Dells and Palatine, Ill., brings personalized medicine to consumers by providing an online portal that identifies potential gene-drug interactions based on at home genetic tests. Presenter: Annette Gilchrist.