October 4, 2017 (GLOBE NEWSWIRE) – As researchers and companies around the world increasingly recognize the importance of the microbiome, they face a critical gap in expertise, according to one Vancouver biotechnology startup.
Microbiome Insights, Inc., which conducts testing and bioinformatics on microbial communities for applications ranging from human health and disease to beauty products and agriculture, aims to help their clients address this expertise gap and innovate more quickly.
Last week, Microbiome Insights’ growth and momentum was recognized with a second place win in the 2017 British Columbia Innovation Council-New Ventures Competition, out of a field of 166 companies. The company also took home the Centre for Drug Research and Development Life Sciences award.
"The microbiome is one of the fastest growing areas in life sciences," says Malcolm Kendall, Microbiome Insights' CEO. "Microbiome science is changing the direction of numerous large industries like healthcare, food, cosmetics and agriculture, and can add significant value to products. Our success in this competition highlights the bright future for microbiome testing and expertise.”
A panel of judges made up of industry experts, venture capitalists, and successful entrepreneurs determined that the company was primed to succeed as a business venture in the current market environment. The company is on a run rate to grow its revenue over 400 percent this year.
"A major theme in research today is a growing appreciation of the importance of microbial communities, or microbiomes, and the imperative to better understand these communities,” says University of British Columbia professor Dr. Bill Mohn, who co-founded the company with his colleague, Dr. Brett Finlay. “These highly complex communities are critical for human health, environmental quality and industrial processes. Consequently, there is a real need for expertise in designing and conducting microbiome studies.”
Kendall adds, “Our testing services help researchers and companies innovate and accelerate the development of products so they can remain competitive as microbiome science advances and impacts their industry."
Reports indicate advances in microbiome science offer tremendous potential for medical, environmental and economic benefits. Analysis of the human microbiome may yield new approaches to diagnose and treat many chronic diseases, while understanding and managing environmental microbiomes may improve productivity and sustainability of agriculture and diverse resource industries, such as forestry, mining and aquaculture.
About the BCIC-New Ventures Competition
New Ventures BC (NVBC) is a not-for-profit that promotes entrepreneurship through innovation. NVBC runs the annual BCIC-New Ventures Competition, offering education, coaching, and $300,000+ in prizes to B.C. startups. The NVBC Venture Acceleration programs also provide training and mentorship for early-stage tech companies. Over the past 17 years NVBC competition winners have gone on to create 2,700 jobs and raise $300 million in financing.
Learn more: newventuresbc.com
See this press release online here.
See the Microbiome Insights video here.