Rice University Business Plan Competition Winner Rings Closing Bell at NASDAQ OMX Stock Market
Winner offers new osteoporosis treatment.
HOUSTON – June 25, 2010 - At 4 p.m. EDT today, Paul Mlakar, president of BiologicsMD, LLC., along with his colleagues Misty Stevens, chief operating officer; Robyn Goforth, chief scientific officer and Michael Thomas, chief marketing officer, presided over the NASDAQ OMX closing bell ceremony in New York City as the winners of the 2010 Rice University Business Competition. The team is from the University of Arkansas in Fayetteville, Arkansas.
“My old football coach once told me, ‘you will never be a good kicker until you get enough courage to miss...’ That really stuck with me, said BiologicsMD CEO, Paul Mlakar. “Taking part in the competitions and RBPC in particular showed me how important it is to assume risk, step outside of your comfort zone, and push yourself. After all of the work, analysis, and preparation, I realized you have to have something extra that is not in your business plan. You have to be willing to fail. Getting to ring the NASDAQ closing bell is truly an honor and an experience I will never forget. It is proof that you just never know what you can achieve until you try.”
BiologicMD has developed OsteoFlor™, a new medication that builds better bones. It binds directly to bone, nearly tripling new bone growth. It requires less frequent dosing and is expected to have few, if any, side effects. Osteoporotic fractures strike 1 of 2 women and 1 of 4 men over the age of 50.
BiologicsMD bested 41 other business plan teams at the world’s richest and largest business plan competition, the Rice University Business Plan Competition, taking home more than $400,000 in cash and prizes. When asked what the experience of winning the competition was like, Michael Thomas, chief marketing officer, had this to say: ‘this has been a defining moment in my life, truly an amazing experience that I would put right up there with having kids.’
Brad Burke, managing director of the Rice Alliance for Technology and Entrepreneurship, host of the competition; as well as competition sponsors: Tracye McDaniel, executive vice president and chief operating officer of the Greater Houston Partnership, Jeff Davis, director space life sciences, NASA Johnson Space Center and representatives from venture capital firm, DFJ Mercury, joined the BiologicsMD executive team in the NASDAQ OMX studios to ring the bell. The NASDAQ OMX three-story billboard in Times Square heralded the event.
This is the third year that NASDAQ OMX has sponsored the Rice Business Plan Competition and BiologicsMD is the third team to ring the bell. Representatives from NASDAQ OMX also judged the competition held April 15-17 this year at Rice University, Houston, TX.
Closing ceremonies took place at NASDAQ MarketSite - 4 Times Square - 43rd & Broadway - Broadcast Studio on Friday, June 25 at 4:00 p.m. EDT
The Closing Bell is available from 3:50 p.m. to 4:05 p.m. on AMC-3/C-3 (ul 5985V; dl 3760H). The feed can also be found on Ascent fiber 1623. If you have any questions, please contact Robert Madden at (646) 441-5045.
An audio transmission of the Closing Bell is also available from 3:50 p.m. to 4:05 p.m. on uplink IA6 C band / transponder 24, downlink frequency 4180 horizontal. The feed can be found on Ascent fiber 1623 as well.
A live webcast of the NASDAQ Closing Bell will be available at: http://www.nasdaq.com/about/marketsitetowervideo.asx
To obtain a high-resolution photograph of the Market Close, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market close of your choice.
About the Rice University Business Plan Competition:
The Rice University Business Plan Competition (RBPC) is the world’s richest and largest business plan competition. During the competition’s nine-year history, 36% of teams (97 out of 270 past competitors) have gone on to successfully launch their business. In 2009, 33 of the 42 teams launched their companies after competing at the RBPC. More than $223 million in early-stage funding has been raised by Rice Business Plan Competition participant companies with $75 million of that being raised in the last year alone. There are 200+ judges on the judging panel consisting of “who’s who” of the investor, venture capital, entrepreneur, & business community.
About BiologicsMD, LLC.:
BiologicsMD is developing OsteoFlor™, a new medication that builds better bones.
Osteoporotic fractures strike 1 of 2 women and 1 of 4 men over the age of 50. Yet most current treatments, which constitute a $9 billion market, are not very effective at growing new bone. OsteoFlor™ binds directly to bone, nearly tripling new bone growth. It requires less frequent dosing and is expected to have few, if any, side effects. Our team’s experience includes SBIR grant funding, medications development, FDA regulatory strategy, and start-up expansion. BiologicsMD is seeking $5 million over four years to take OsteoFlor™ through a Phase I clinical trial. A projected valuation of $160 million in 2014 represents a 45x return to early-stage investors. BiologicsMD.com