Biotechnology companies were in the spotlight this week. On Tuesday, the winner of the 2012 Venture Showcase was announced.
"The showcase is an opportunity for some of emerging companies in Colorado to create more awareness about what they're doing and get in front of a panel of investors and pitch their story," April Giles with the Colorado BioScience Association said.
The top spot went to a Fort Collins company, VetDC Inc. VetDC Inc. is a veterinary biotechnology company that licenses innovative human biomedical technologies to address serious unmet medical needs in pets.
"There about 200,000 new cases of lymphoma in dogs per year. unfortunately, 90 percent of those dogs on the primary treatment of care relapse. So what VetDC is doing is creating a new technology to help treat dogs with lymphoma. In fact, it will be the first FDA approved treatment for dogs with lymphoma," Giles said.
Flashback Technologies out of Longmont was also a top contender.
"They use a sensor-based technology to look at hemorrhage in patients. The basis for that is, a lot of times, in triage situations, physicians or folks in the battlefield aren't able to triage patients very quickly and their technology allows rapid response treatment system," Giles said.
Hemorrhage is the most common cause of preventable death on the battlefield.Also in the spotlight at the showcase wasKromaTID, another company in Fort Collins.
"They look at DNA mutations that have never been discovered before to help researchers better understand those mutations and find treatment protocols for those," Giles said.
A Boulder company is also using biotechnology to make a big impact, Siva Therapeutics Inc. is developing a method for cancer therapy which they say promises to be safer with fewer side effects, and at least as effective as current therapies.
Giles said biotechnology is a major sector in Colorado that continues to grow.
"It's 27,000 employees. We've had a 4 percent growth over the last four years andthere's an average salary of about $74,000 per employee. So it's a significant impact to Colorado's economy," Giles said.