Luminoah Triumphs in the 8th Annual Crab Trap Competition at BioHealth Capital Region Forum receiving cash prize and clinical services from regional award sponsors.
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Luminoah, a promising MedTech startup headquartered in Charlottesville, VA, was awarded the top spot at the 8th Annual Crab Trap Competition, a marquee event within this year’s BioHealth Capital Region Forum.
Luminoah impressed the judges with its innovative wearable system, designed to revolutionize enteral feeding care. This ground-breaking system seamlessly integrates durable medical equipment, consumable nutrition pouches, and remote patient monitoring to optimize patient compliance and clinical outcomes.
In recognition of their achievement, Luminoah received a $10,000 prize from Greenberg Traurig, LLP, along with $10,000 worth of Preclinical Contract Research Organization (CRO) services from Noble Life Sciences Inc..
“Noble Life Sciences is thrilled to grant Luminoah $10,000 worth of preclinical services in recognition of their revolutionary portable feeding tube device, featuring remote monitoring capabilities. Neal Pipers excellent pitch and personal connection to the technology, along with Luminoah’s commitment to enhancing the quality of life for individuals reliant on enteral feeding truly impressed us,” stated CEO Srujana Cherukuri.
Presenting the award from Greenberg Traurig, LLP was Charles Andres, Ph.D, RAC who was compelled by the combination of a late-stage technology that had a clear and timebound path to market, and an excellent well-honed pitch by Luminoah’s Founder & CEO, Neal Piper.
Piper started the company after his personal experience with his son who was diagnosed with cancer and required a constraining feeding tube so their mission to bring the technology to market is also personal. The company hopes for a Food and Drug Administration approval in 2024 and then enters the pediatric home healthcare market initially followed by the senior and rehabilitation markets. The company says the enteral feeding technology market is worth about $12 billion and that half a million children could benefit from its product.
It has been a breakout year for Luminoah, who won the Light House Labs’ Demo Day in May, followed by a $6 million Series A round in June that was led by Charlottesville’s Fry’s Path Capital and included participation from Arlington’s Sands Capital, Charlottesville’s CAV Angels, Virginia Beach’s 757 Angels and Richmond’s Virginia Venture Partners — the equity investment arm of the Virginia Innovation Partnership Corp.
Luminoah shared the pitch competition stage with five other startup companies which were selected from 50 applications to this year’s Crab Trap. This year’s competition featured several other companies, each presenting innovative solutions to address pressing healthcare challenges. Uzi Ron of EyeControl, hailing from Tel Aviv, Israel, introduced their AI-based, screenless wearable eye-tracking communication solution. Elaine Haynes of KaloCyte, Inc., based in Baltimore, Maryland, introduced ErythroMer, an ingenious dried, bio-inspired artificial red blood cell.
The distinguished panel of judges for the Crab Trap Competition included:
- Sally Allain, Head of Johnson & Johnson Innovation JLABS @ Washington, D.C.
- Charles Andres, Shareholder at Greenberg Traurig, LLP.
- Conley Jones, Principal- Science & Technology at Alexandria Real Estate Equities, Inc./ Alexandria Venture Investments
- Daniel Keating, Partner at Wilson Sonsini Goodrich & Rosati
- John Newby, Chief Executive Officer of the Virginia Biotechnology Association
- Katherine Hill Ritchie, Senior Director of Venture Funds at TEDCO
- Brett Shealy, Executive Director of Life Sciences Banking at J.P. Morgan
Among the other noteworthy winners at the competition was Solaxa, a phase III clinical-ready biopharmaceutical startup committed to enhancing the lives of patients afflicted by nerve damage. Solaxa secured $25,000 in funding from the Montgomery County Government, a testament to their remarkable work.
Mobius Scientific also garnered attention for their pioneering work on the Mobius Disc platform, a biologic optimized for cholesterol removal in tissues. Their victory earned them a coveted one-year residency at Johnson and Johnson Innovation’s JLABS @ Washington, D.C., presenting an invaluable opportunity for further development.
