May 26, 2010

Quantitative Insights, Inc wins CBC Business Plan Competition

The CBC held its Third Annual Business Plan Competition on May 17, 2010, at the University of Chicago Gleacher Center in Chicago, IL. Five graduate student-led teams from the business and management schools at the three CBC affiliated institutions presented business plans describing their biomedical companies and products to a panel of judges. The judges were selected from Chicago-area venture capital firms, angel investors, biotechnology and pharmaceutical companies and included:

Bob Altman (Marathon Pharma)
George Arida (Venture Investors)
Tom Churchwell (Midwest Venture Partners)
Ron Kirshner (Heartland Angels)
John Larson (Abbott Laboratories)
Donna Williamson (Ceres Venture Fund)

The three business and management schools and the plans they presented were:

  • Northwestern University, Kellogg School of Management, Center of Biotechnology Management
    • Barron, Inc
    • UroVention
  • The University of Chicago Booth School of Business, Polsky Center for Entrepreneurship
    • Quantitative Insights, Inc
  • The Liautaud Graduate School of Business, UIC Institute for Entrepreneurial Studies
    • Apana
    • MMPe Technologies

At the conclusion of the half-day program, the University of Chicago team’s business plan for Quantitative Insights, Inc was announced the winner of the competition and received a $10,000 CBC prize. Quantitative Insights, Inc is developing a computer-aided diagnostic (CAD) software platform that assists radiologists during breast cancer diagnosis. The software, QuantX, provides new and expanded diagnostic information and uses an advanced neural network to assist radiologists in characterization and assessment of identified lesions, leading to fewer missed and incorrectly diagnosed cancers. As the company moves forward, it plans to extend the QuantX platform to a variety of cancers and imaging modalities and ultimately create the industry’s first integrated multi-modality CAD solution. The team members include:

James Krocak: CEO
Brian Luerssen: President
Maryellen Giger, PhD: Co-Founder, Scientific Advisor
Yading Yuan, PhD: Scientific Officer
Ryan Richardson: VP Marketing
Shailesh Agarwal, MD: Medical Officer

LEFT: Katie Stallcup, the CBC Executive Director and the Quantitative Insights, Inc team members (from left to right: James Krocak, Ryan Richardson, Brian Luerssen, Yading Yuan). RIGHT: The judges listening to the presentations. (Photos: CBC)