HULA Therapeutics Wins $250,000 Investment at PABC’s 10th Annual Entrepreneur Spotlight
HULA Therapeutics, a Philadelphia-based biotech startup, has won a $250,000 investment at the Pennsylvania Biotechnology Center’s 10th Annual Entrepreneur Spotlight, powered by Hatch BioFund.
July 23, 2024
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In a thrilling showcase of innovation, HULA Therapeutics, a promising biotech startup from Philadelphia, emerged victorious at the Pennsylvania Biotechnology Center’s (PABC) 10th Annual Entrepreneur Spotlight on July 18. The event, powered by Hatch BioFund, marked a significant milestone with its first major financial incentive, a $250,000 investment.
HULA Therapeutics, dedicated to developing safer and more effective therapies for children and adults with solid tumors, captivated the audience and judges with their groundbreaking work. Leveraging a novel target discovery engine from Children’s Hospital of Philadelphia, HULA Therapeutics aims to enter the clinic with a CAR-T cell therapy for neuroblastoma by late 2024. Their pipeline also includes treatments for sarcoma, medulloblastoma, and gliomas.
The panel of four expert judges and nearly 100 attendees cast their votes, resulting in a close competition. HULA Therapeutics’ win secures them a $250,000 investment from Hatch BioFund, the venture capital arm affiliated with PABC.
The two other finalists, chosen from over 40 applicants, were awarded one-year memberships at PABC along with business development opportunities:
- Eliksa Therapeutics: Based in Doylestown, Eliksa is pioneering secretome-based therapies for ocular, cardiovascular, and osteoarthritic conditions. Their lead product, ELK-003, targeting ocular manifestations of Epidermolysis Bullosa, entered clinical trials in 2024.
- ThirdLaw Molecular LLC: Operating out of Blue Bell, PA, this company is advancing Spiroligomer™ molecules from Temple University, aiming to revolutionize targeted medicine for safer and more effective disease treatment.
About the Pennsylvania Biotechnology Center (PABC): Nearly 100 companies belong to the PABC, which is a nonprofit life sciences incubator and accelerator providing a collaborative ecosystem and state-of-the-art laboratory and office space. There are nearly 70 early stage biotech companies onsite at its two locations. Along with its campus in Doylestown, where a new building with labs and offices opened two years ago, the PABC operates B+labs at Cira Centre in University City, Philadelphia. B+labs, which was launched in 2022, is a partnership with Brandywine Realty Trust. The PABC uses a highly successful services-based approach to nurture and guide its member companies to success, advancing biotechnology, maximizing synergies among nonprofit scientists and their commercial colleagues, and launching new ideas and discoveries. PABC companies account for 17% of all National Institutes of Health SBIR grants awarded in Pennsylvania and over the years have created billions of dollars in market value from IPOs, acquisitions and commercial valuations.
About Hatch BioFund: Formed in 2023, Hatch BioFund provides early stage capital to promising life science companies, along with access to deep industry expertise and physical platforms to help them realize their missions. Hatch partners include Brandywine Realty Trusty, Daiichi Sankyo, the Hepatitis B Foundation, the Baruch S. Blumberg Institute, the PABC and B+labs at Cira Centre.
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