Austin life sciences company heads to D.C. startup competition

May 13, 2014
Austin Business Journal

EPatientFinder, an Austin life sciences startup, is one of 64 companies worldwide headed to Washington, D.C., next week to compete in the Challenge Cup funding competition


The company uses analytical tools to connect patients and their doctors with novel treatments that have just received FDA approval or are still in clinical trials. EPatientFinder, which has 14 employees, was one of three Austin companies chosen to compete in the Hatch pitch competition at this year’s South By Southwest


Tom Dorsett, president and CEO of EPatientFinder, said inclusion in the Challenge Cup validates his company’s potential. He said a preliminary round of the Challenge Cup resulted in $100,000 investment from a venture capitalist who was in attendance and the company has closed a round of $1.4 million in capital, with a $5 million round due to close in August. Organized by the D.C.-based 1776 start-up accelerator, the event was created to address issues in education, health, energy and environment and offers $150,000 in funding to the winning company


Dorsett said the company, which expects to hire more than 24 marketing and sales staff with its new funding, has signed agreements with four major pharmaceutical companies to get access to their clinical trials. It's working on deals with other large manufacturers and hopes to close more soon, he added


Separately, 1776 has filed regulatory paperwork for a planned $25 million fund, advancing the year-old startup hub's longstanding plans to not only house, but fund, early-stage companies


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