Boston platelet startup China-bound after winning business plan competition

BOSTON — The Boston company that recently earned top honors at an international business plan competition for life sciences startups may only have two employees and no permanent headquarters yet, but it’s got one thing plenty of biotech companies many times its size never attain: A simple explanation of what it does.

The Boston Business Journal recently featured this story about the company.

“Platelets stop you from bleeding. Our bioreactor makes platelets,” reads the main text on the website for Platelet BioGenesis, which was named winner of the Boston-area regional 2016 BioSciKin Competition, held at the offices of MassBio earlier this week. CEO Jonathan Thon says the spinout from Harvard University in 2014, now based at LabCentral in Cambridge, has gotten funding from private investors as well as grants from the Massachusetts Life Sciences Center and the National Institutes of Health. The company aims to provide platelets without the need of donors by creating them from pluripotent (or induced) stem cells, for use by the 2 million U.S. patients every year who need them due to cancer treatment, transplant, and surgery. The company estimates the market at $20 billion.

Platelet BioGenesis will get a $30,000 prize for the win. The runner-up at the Boston competition was a Canadian firm called Exact Imaging that makes a high–resolution device for imaging and biopsy guidance of the prostate. The two won out amid the 150 startups that entered the contest, 10 of whom pitched their companies to a panel of judges on Tuesday.

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Source: Boston Business Journal

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