LSU LBTC, Pennington Partner for Biotech Business Incubator
BATON ROUGE – LSU’s Louisiana Business and Technology Center, or LBTC, and the Pennington Biomedical Research Center, or PBRC, have teamed up to create a biotechnology business incubator. The BioTech Initiative is a specialized incubator that will facilitate the growth of companies focusing on impacting patient health and care through technological advances.
LBTC’s staff is comprised of incubator specialists who provide professional guidance on developing business plans, raising capital, networking, patent development and more.
“We are excited about bringing our 25 year success in business incubation and entrepreneurial assistance to the Pennington BioTech Initiative,” said Charles D’Agostino, LBTC executive director. “With the Pennington expertise and facilities linked with the LBTC’s business counselors, we are able to assist companies in medical software, medical devices and life science technology to develop vibrant businesses that are creating high paying jobs in the life sciences cluster.”
PBRC provides space for the tenant companies, plus access to equipment, patients and research expertise.
“We are very excited about this initiative, as given the goals, it allows Pennington Biomedical to link its expertise with startup companies whose focus is clearly aligned with our research,” said Dr. William Cefalu, PBRC executive director. “LBTC provides the entrepreneurial know-how and Pennington Biomedical provides access to world-renown research and expertise, creating a great environment for these new companies.”
There are currently four tenants in the BioTech Initiative: Cardio Fortress, Next Generation Fitness, ComplyRx and inforMD Solutions.
Cardio Fortress was conceived in 2009 by Kevin A. Courville, MD, FACC, a cardiologist focused on improving the care for patients with congestive heart failure. Over the course of four years working with software entrepreneur Randy Gray, they have perfected the balance of clinical expertise and information technology, improving the lives of heart failure patients with their software application HF Defender.
"Our mission is to improve the quality of care for patients suffering from congestive heart failure and lower costly hospital readmissions, through specialized care and state of the art technology,” said Gray, president and co-founder of Cardio Fortress. "Being part of the Pennington Bio Tech Initiative, along with services available from LBTC, provides collaboration and business advantages that we could not find anywhere else in the country.”
ComplyRx provides software solutions addressing healthcare cost concerns facing employers, providers and insurers. The company leverages web-based tools and modern mobility to help employers connect with employees in entirely new ways. Their platform provides a combination of strategies, including employee marketing, mobile communication, incentives, reporting, risk assessment, compliance and interventional care.
ComplyRx reduces claims costs by increasing health and wellness program adoption and improving plan member engagement. They centralize the administration and management of employee communications, improve ease of access to health and wellness and employee benefit services, with the objective of helping administrators reduce healthcare claims costs, employee absenteeism and exceed compliance goals, particularly among at-risk members.
“ComplyRx deeply appreciates its affiliation with the Pennington BioTech Initiative. We are thrilled to have the opportunity to align ourselves with such a prestigious organization,” said Richard Duhe, founding partner and CEO. “This affiliation has substantially helped to provide marketplace acceptance of our company’s employer/employee mobile app communication platform, which allows an employer to disseminate any pertinent corporate information, documents or training videos to employees, plan members or retirees via Push Notifications to their Smartphones, iPads or Tablets.”
inforMD Solutions provides ancillary platforms that enhance revenue cycle management for physicians while improving patient outcomes. The company’s point-of-care platforms, powered by smart technology, focus on delivering more detailed patient information to enable providers to improve their patient’s medication adherence while mitigating potential medication diversion.
“As a healthcare start-up based in Baton Rouge, there could be no greater partners than LSU LBTC and Pennington Biomedical. This opportunity allows for companies like ours to have access to tremendous resources from globally recognized entities while being headquartered in Pennington’s state-of-the-art facility. We look forward to a long, prosperous relationship with LSU LBTC and Pennington Biomedical and believe together we can make Baton Rouge a hotbed for medical/biotech companies,” said Rick Massengale, president/COO of inforMD Solutions.
Next Generation Fitness & Research Labs LLC
Next Generation Fitness & Research Labs LLC is a 100 percent veteran-owned small business that specializes in combat conditioning, tactical physical fitness, corporate wellness programs and personal training. Previous clients include United States military, athletes, law enforcement and corporate offices.
“NextGenFit specializes in tactical conditioning, corporate wellness programs and exercise physiology research. Our past clients have included United States Marines, Louisiana National Guardsmen and Northwestern Mutual,” said Canaan Heard, owner of Next Generation Fitness & Research Labs LLC. “We started in my garage four years ago and have grown since then. Being at Pennington allows us to interact with the researchers here and conduct our own research. We look forward to advancing the science of combat conditioning and exercise physiology.”
For more information about LBTC, visit www.lsu.edu/innovationpark/about-lbtc.
To learn more about PBRC, visit http://www.pbrc.edu.